SBA Loans sold to third party?

[ALEXANDRA]

Can anyone help me with this:

In 1998 I obtained (a) SBA women's small business loan from the participating lender "Bank Of America" in a total amount of $30,000. The loan was approved as a "start-up" business loan for capital finance receivables and working capital. The clothing business was profitable the 1st year of operation. Later in the second year of operation the business cash flow went considerable down and as result I was unable to pay the monthly installments and I closed the business. I have lost a lot of money and maxed out my credit cards trying to stay solvent. I paid the "Bank of America" loan in monthly installments for more than 1 year. The last statement from the "Bank of America" loan indicated a balance of $25,557.00 After that I stopped paying as my financial situation went from bad to worse. This Loan was never reported to any credit reports...so there is no negative mark on the credit. BOA "charged off" the loan.

On Oct.2004 I received an inquire from a Collection Agency to pay an amount of $31,669.68 to a financial company who allegedly bought the loan from Bank of America. I sent a validation letter to he Collection agency via certified mail. As I did not received an answer in the next 30 days I send the second validation letter, again via certified mail. So far no answer.

My question is this:

Under this program, SBA guarantees to repay a participating lender a pre specified percentage of the 7(a) loan amount (generally between 75 and 80 percent) in the event of borrower default. Can anyone tell me if this is quite possible: to have this type of loan sold to a third party who can come after you years later. Should I contact Small Business Administration and ask this question or should I stay quiet. What chances do I have with this new Creditors? Can they report "now" the loan to my Credit Reports? How if other Collection Agency or Creditors will popup in the future?

Thank you for the patience.

Arina