We can't find an attorney

[desertplains]

Um, sba-attorneys.com wants $250 for a 30 minute consultation. That is not affordable in rural Wyoming

[justbroke]

When seeking an OIC with the IRS, the SBA, or any part of the government, the specialist do charge what's likely the reasonable fee in that area. I was hoping you'd have a strong bankruptcy attorney that has a strategy for dealing with the SBA which may include filing bankruptcy. I cannot provide you with any advice here. I will say, though, that the bankruptcy attorney may be the best to handle both. Only because they are familiar with your bankruptcy case. But, at the same time, an SBA specialist knows more about the OIC process and what a reasonable offer would be to release the lien on the residence.

There's no away around this; you need to deal with both the personal bankruptcy and the SBA lien on your home. I would lean on my bankruptcy attorney and hopefully they can work something out with the SBA or you could seek an OIC post-discharge. So many factors to consider and is likely why the SBA OIC specialist wants you to pay for the consult (because it is likely worth the $$$).

[desertplains]

When seeking an OIC with the IRS, the SBA, or any part of the government, the specialist do charge what's likely the reasonable fee in that area. I was hoping you'd have a strong bankruptcy attorney that has a strategy for dealing with the SBA which may include filing bankruptcy. I cannot provide you with any advice here. I will say, though, that the bankruptcy attorney may be the best to handle both. Only because they are familiar with your bankruptcy case. But, at the same time, an SBA specialist knows more about the OIC process and what a reasonable offer would be to release the lien on the residence.

There's no away around this; you need to deal with both the personal bankruptcy and the SBA lien on your home. I would lean on my bankruptcy attorney and hopefully they can work something out with the SBA or you could seek an OIC post-discharge. So many factors to consider and is likely why the SBA OIC specialist wants you to pay for the consult (because it is likely worth the $$$).

I asked his paralegal and she asked him, emailed back:

"Hi,
With regard to the SBA, we will list them as a creditor and they will get notice of the bankruptcy. We can then see if they file a proof of claim and go from there."

I can't see them not filing a proof of claim for $700K. If the building was auctioned off and equipment liquidated it will bring in pennies on the dollar. I downloaded the loan docs from idoc in my county so it seems to be perfected. Atty wants to do chap 13 for personal but knows my husband has not yet found a new job.

I thought the OIC had to come during the 60 day demand letter but her response seems after. Is this standard?

[desertplains]

I asked his paralegal and she asked him, emailed back:

"Hi,
With regard to the SBA, we will list them as a creditor and they will get notice of the bankruptcy. We can then see if they file a proof of claim and go from there."

I can't see them not filing a proof of claim for $700K. If the building was auctioned off and equipment liquidated it will bring in pennies on the dollar. I downloaded the loan docs from idoc in my county so it seems to be perfected. Atty wants to do chap 13 for personal but knows my husband has not yet found a new job.

I thought the OIC had to come during the 60 day demand letter but her response seems after. Is this standard?

If the building was auctioned off and equipment liquidated it will bring in pennies on the dollar.

Same with our house, it's out of town in bad weather, no water or furnace etc.

[justbroke]

If it's me, that sounds like a good strategy. It's called the "wait and see what they do" approach. Their lien, however, still passes through the bankruptcy. But you are likely in a better negotiating position for an OIC. Remember that they have to look at what they can recover. No one can guess at this point what they'll do until you force their hand... or make an offer.