Posted On: March 23, 2011
Are SBA loans dischargeable in a Florida Bankruptcy?
The short answer is possibly. Although small business administration loans are issued by the federal government, they are not specifically mentioned in the bankruptcy code as being an exception to discharge.
Unlike federally issued student loans, SBA loans are nowhere to be found in the bankruptcy code. Student loans are for the most part nondischargeable. It is a common misconception that all government debt is nondischargeable. In fact, recent IRS debt and student loans are kind of the exceptions to dischargeability. You should contact an experienced bankruptcy attorney
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Greg Gilbert
Keith Maynard
