SBA loan

By Terry Savage on March 06, 2024 | Credit/Debt

Hi Terry
I have a $17,000 sba loan plus $1500 interest that is in Charge off status. What is your suggestion as to do with this loan? Thanks

Terry Says

I would suggest reaching out to the National Foundation for Credit Counseling. They can give specific help, as I’m not familiar with SBA loans. Call 800-388-2227 to connect with them You can trust them.

Now that your loan is in charge off status, it has probably impacted your credit score mightily. Go to to check your score.
It’s best to get this resolved — and since it’s in charge-off, I’m not sure there’s anything else you have to do.



a personal
finance question