SBA debt and personal BK - how can I make it go away???

[jsparkles]

My husband and I filed personal BK because of an SBA loan he took out in 2007. We were discharged in February of this year. The loan was taken out from a local credit union. I just received a notice in the mail from the US Small Business Administration that it "intends to refer you to the US Department of Treasury as a delinquent borrower or guarantor on a loan made by SBA or other lender (credit union) and guaranteed by SBA." It says that the loan is now due or we need to call to make arrangements.

The business has since dissolved and there are no assets or money to pay anything. It is my understanding that by filing personal BK, we are not responsible for the business debt. Is this correct?

I don't know what to do now. I just want this to be OVER. I don't want to think about this debt anymore! Do we need to file BK for the company as well? Can they go after the company if there is nothing there? Can they go after us personally even though we included the debt in our personal BK?

I'm sorry this is long. I was hoping this was over, and now am so stressed out about this letter. If anyone has any personal experience similar to this, I would love to hear.

Thank you in advance! This forum is always so helpful and knowledgeable.

[HHM]

Was the loan secured by your home or personal assets.

SBA loan ARE dischargeable. I think you are simply receiving the standard notice from the bank when the loan is returned to the SBA. If the loan was not secured by any personal assets (e.g. house) and you filed bankruptcy, the loan is toast.

[jsparkles]

Thank you for your response, HHM. No, the loan was not secured by personal assets. The notice we received was from the SBA, saying it would be turned over to the Treasury in 60 days.

So do you know what we need to do now to stop getting these notices? The loan has been discharged in a personal BK, the company is dissolved, there is nobody to collect money from...so now what? Do we call the SBA and explain? Do we send a letter somewhere? Is it complicated? I just want to know what steps we can take to get this done once and for all.

We have been doing so well since we have been discharged. We are saving money, feel good about the future...then I get a notice like this and that familiar pit in my stomach returns.

Thanks again for your help!

[HHM]

Send your creditor matrix and discharge order to the SBA, along with a cover letter.