Re: SBA loan, bad debt statute of limitations
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Posted by Mike (206.66.57.203) on July 25, 2002 at 17:56:48:
In Reply to: SBA loan, bad debt statute of limitations posted by mary ann hernanez on April 12, 2001 at 15:54:44:
There is a 6 year statute of limitations of gov't debt. By law your delinquent account was referred to Dept. of Treasury. Disaster loans have not been forgiven since a Congressional act did so in 1971. If you don't pay off eventually, next time you go for a gov't loan (student loan, FHA, VA, etc) you will be denied because of this bad debt to the govt.
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