Refer the debt to a private collection agency.Offset the debtor's Federal payments, including income tax refunds, salary, certain benefit payments (such as Social Security), retirement, vendor, and travel reimbursements and advances.Name, address, and phone number of a contact person or office within the creditor agency.Įxplain the agency's intent to enforce collection if debtor fails to pay by taking one or more of the following actions:.Date by which payment should be made to avoid late charges and enforced collection (generally, 30 days from the date the demand letter is mailed). ![]() ![]() Explanation of how interest, penalties, and administrative costs are added to the debt.Nature and amount of the debt, including the basis for the debt.The information may be included in one letter or a series of letters. Department of the Treasury's Financial Management Service for debt collection (cross-servicing). The following information should be included in a Federal agency's written communication with a debtor at least 60-days prior to referring a delinquent debt to the U.S. ![]() If you are in default on your SBA loan, you will get what is termed a "60 day letter". We are dedicated to helping you settle your SBA loan default. ![]() Instead, turn to one of our attorneys who specializes in SBA OIC claims. You should not have to struggle to settle your SBA debt on your own.
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