One month ago a started receiving letters of garnishment from the US Dept of Treasury on my SBA EIDL loan for non payment on the $150k I borrowed from SBA. As of today the they have levied/garnished over $25k which is way more than what is even due. The problem is I have been paying the loan monthly via ACH set up on their portal. I’ve been paying $731 every month for the last year but SBA has no record of the payments.
My bank statements all show payment going to EIDL loan repayment SBA yet there is nothing showing on any statement from SBA.
As you can imagine this levy is crippling my cash flow and we have stopped billing federal payers worried those will get levied.
Has anyone experienced this? Wondering what my recourse might be.
I have called, emailed and was even forced to file for hardship on the portal to stop the bleeding even though I don’t need the hardship.
Anyone with advice or help to offer would be amazing.
-BK