What happens if you default on an SBA loan?

I own a business in Texas and I can no longer afford to make the monthly loan payments. The loan was issued by a local bank and its a SBA loan. I am one of four people who is a "guarantor". What does this all mean? Can the bank come after my...

There has been a lot of talk in the news about the student loan crisis. The statistics show that 10% of students who go to public colleges default on their student loans and 25% of students who go to for profit schools. If all these students defaulted...

I want to open a coffee shop someday and want to know if it is an impossible dream since my husband and I lost our home to foreclosure and I have a student loan in default.

This will be our first ever default and our mortgage company refuses to work with us. Every time we call to work things out they are very rude. We plan to pay the total amount owed four days after our default date, and can't come up with the money until...

My (then 18 yr old) daughter bought a car from a dealership 5 years ago. Within the first year the car stopped running and so she stopped making payments. Come to find out, the dealership falsified her income and she never should have qualififed for...

Do they take my house since I have an equity loan with them also?

The loan was defaulted over a year ago but the creditor has not picked it up. Can it be relicensed (tags expired) and driven? Don't want to do anything illegal. Have tried to contact the original creditor but no response.

Under the guaranty concept, commercial lenders make and administer the loans. The business applies to a lender for their financing. The lender decides if they will make the loan internally or if the application has some weaknesses which, in their opinion...