SBA with Capital One in default

Date: Sun, 11/07/2010 - 18:22

Submitted by dantheman
on Sun, 11/07/2010 - 18:22

Posts: 860 Credits: [Donate]

Total Replies: 4

Does anybody have any information on Capital One SBA default? I took out a loan of $100k about 4 years ago and owe about $65k now. This is my last debt and is not eligible to settle since the business is still in operation. I am trying to avoid escalation but can't seem to get the payment reduced. I am willing to pay in full but the monthly is too high. Any help or information is appreciated, Capital One or otherwise but must relate to an SBA Loan. dtm

I think you may negotiate with your creditors to reduce the inte

I think you may negotiate with your creditors to reduce the interest rates of the loans. You may even ask them to waive off a portion of the debt amount or extend the loan term period. In the mean time try to gather funds to repay the loan.

lrhall41

Submitted by anonymous on Wed, 11/10/2010 - 03:53

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Update...I have defaulted on this Capital One SBA Loan. Just co

Update...I have defaulted on this Capital One SBA Loan. Just could not make the payments. I paid so much on settlements. Does anyone have any specific info on Cap One? Please, no vague replies like the one above. dtm

lrhall41

Submitted by dantheman on Wed, 12/01/2010 - 19:40

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Dear Dan, My husband's business went "belly up"last January....a

Dear Dan, My husband's business went "belly up"last January....and we settled all of his credit card debt except we could not settle the cap one SBA loan that he had......we ended up making payments for reduced interest (I believe they reduced the interest).....they even settled another CC with cap one for 48%, but not the cap one SBA....so sorry to bring you that info....apparently because it is government backed....it is considered like a school loan....now I think that it can be taken care of with bankruptcy.....but I dont 'know that for sure....

this is debtor in Ca .....you always helped me so much and I thank you.....can never sign in correctly......Please let us knwo what you find out!!!!

lrhall41

Submitted by anonymous on Wed, 01/05/2011 - 17:06

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Dan, Anything new on your cap one sba, I have same loan, sounds

Dan,
Anything new on your cap one sba, I have same loan, sounds like my situation is very much like yours. I am now 60 days late, have not heard a word from cap one in about 2 weeks.

Thanks, hope things workput for you!!

lrhall41

Submitted by anonymous on Sat, 01/15/2011 - 07:49

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