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Are SBA Loans Dischargeable in a Chapter 7 Bankruptcy?

Are SBA Loans Dischargeable in a Chapter 7 Bankruptcy?

Yes.

Be sure to distinguish between a businesses bankruptcy, individual bankruptcy, loan guarantee, and secured SBA loan. SBA loans are dischargeable in a Chapter 7 bankruptcy. SBA loans are also dischargeable in a business bankruptcy.

If the SBA loan is guaranteed by an individual Chapter 7 debtor, then personal liability is discharged in the individual Chapter 7 bankruptcy. If the SBA loan is secured, then the security interest is not extinguished by the bankruptcy.

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We are here for you if you have questions about filing for Chapter 7 bankruptcy. Contact us online today or by telephone at (888) 910-6652 to schedule your free initial consultation with an experienced bankruptcy lawyer

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
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