For businesses dealing with repayment issues related to pandemic relief funding, our Ohio COVID loan default lawyer can offer invaluable legal guidance. At Gudeman & Associates, P.C., we work with small business owners who received loans like the Paycheck Protection Program (PPP) or Economic Injury Disaster Loans (EIDL) during the COVID-19 pandemic and now find themselves in default or under scrutiny. With over 50 years of experience supporting individuals and businesses across a wide range of legal needs, we’re here for you. Our attorneys are proud members of the Michigan Bar Association and the American Bar Association, and we focus on delivering clear, reliable support during stressful times—along with no-obligation consultations. If your business is struggling with repayment or government collection efforts related to a COVID-19 loan, contact us today to discuss your options.
How Defaulting On A COVID-19 Relief Loan Can Affect Your Finances
Many business owners acted in good faith during the pandemic, taking out federal loans to cover payroll, rent, and other essential costs. But as the economy shifted, repayment obligations became harder to meet. Now, the SBA and other federal agencies are taking steps to recover funds from loans that weren’t forgiven or are now considered delinquent. This can lead to tax refund offsets, wage garnishment, or even legal action if the borrower offered a personal guarantee.
Working with our Ohio COVID loan default lawyers can give you peace of mind, as we offer help with assessing your situation so you can move forward with a set plan in place. We will review your loan documents, track down any forgiveness or repayment options you may have missed, and determine whether there are errors or miscommunications that need to be resolved. Our ultimate goal is to help you reduce stress while finding a practical way to deal with financial issues.
Legal Resolutions To Address Loan Defaults
Our Ohio COVID loan default attorneys will help you explore multiple legal strategies to respond to default notices or collection efforts. Every case is different, but there are a few common approaches that we may recommend.
If your loan was not forgiven and you’re unable to pay it back in full, our COVID loan settlement attorney can help submit offers to the SBA to settle your debt for less than the full amount.If you’re being accused of misusing funds or facing penalties due to alleged violations, we also provide COVID relief loan legal defense, which may include responding to fraud allegations or appealing collection actions. For clients who received Paycheck Protection Program loans but either didn’t qualify for forgiveness or faced repayment issues, our PPP loan default attorneys will help you understand your obligations and explore repayment or settlement options, including installment agreements or hardship relief.
We also provide help for borrowers who received Economic Injury Disaster Loans. These loans are different from PPP loans and come with longer terms and stricter collection processes. We help you understand what’s expected and how to respond if the SBA or Treasury initiates collection.
In some cases, borrowers may be wrongly accused of fraud. If you’re facing this situation, we can serve as your pandemic loan fraud lawyer, defending your business from serious allegations that may arise from misunderstandings or documentation issues.
Moving Forward With Legal Support
When you’re facing loan default concerns, it’s important to have a team that listens and acts in your best interest. At Gudeman & Associates, P.C., we understand the pressure that COVID-era loans continue to place on business owners. If you need help sorting out your repayment options, if you’re facing a default, or if you require professional aid to respond to legal actions put against you, we’re here to help. Reach out today to schedule a conversation with our team.
