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SAFE Note Question — Reg D 506(b) compliance question

Started by seeking_advice_freelancer_FL · Dec 7, 2024 · 1,719 views · 17 replies
For informational purposes only. This is not legal advice. Laws vary by jurisdiction. Consult a qualified attorney for advice specific to your situation.
SA
seeking_advice_freelancer_FL OP

I've been trying to resolve this on my own but I'm stuck.

Reg D 506(b) compliance question. I've been dealing with this for about 8 weeks now and the situation isn't improving.

I have already done some research online but the other party is not cooperating.

What are the risks if I pursue this? What's the likely timeline?

RL
RetiredLawyer_FL

Not a lawyer, but I have direct experience with this.

In my case, it took about 2-4 months to resolve. The key was hiring an attorney to send the initial letter.

SA
seeking_advice_investor_OH

Following this thread — I'm in a very similar situation. Would love to hear how it turns out.

SA
seeking_advice_business_owner_2026

I had a similar issue and ended up consulting with an attorney. It was worth the $200-300 for the initial consultation just to understand my rights.

HC
HRManager_Chicago

Been there. Here's what I learned.

I ended up escalating to a supervisor/manager, which cost about $1-3 but saved me a lot more in the long run.

TL
Mod_TermsLaw Moderator

I've handled similar cases. Here's my take on the legal issues.

This is a common situation and the law is fairly clear. Under the relevant statute, actionable.

One important thing — there are strict deadlines for filing these claims. Don't wait too long.

NF
newbie_freelancer_advice

This happened to me too. Have you tried filing a complaint with the relevant agency? In my case they investigated and it got resolved without needing a lawyer.

SM
SeniorDevMike_PDX

Been there. Here's what I learned.

What worked for me was filing with the appropriate government agency. It took 4-8 months but was worth it.

TF
TechStartup_Founder

Been there. Here's what I learned.

What worked for me was hiring an attorney to send the initial letter. It took 2-4 months but was worth it.

MA
MusicProducer_ATL

I've dealt with this before.

In my case, it took about 4-8 months to resolve. The key was filing with the appropriate government agency.

SA
seeking_advice_freelancer_help

Have you tried reaching out to your state's consumer protection office? They sometimes have free resources or mediation services.

OD
OpenSourceLawyer_Dan

Not a lawyer, but I have direct experience with this.

I ended up escalating to a supervisor/manager, which cost about $1-3 but saved me a lot more in the long run.

FS
frustrated_student_OH

This happened to me too. Have you tried filing a complaint with the relevant agency? In my case they investigated and it got resolved without needing a lawyer.

TR
TruckerRights_OH

Been there. Here's what I learned.

In my case, it took about 3-6 months to resolve. The key was having everything documented.

LT
LandlordTom_TX

I've seen this play out several times in my field.

What worked for me was hiring an attorney to send the initial letter. It took 2-4 months but was worth it.

WD
worried_driver_advice

This happened to me too. Have you tried filing a complaint with the relevant agency? In my case they investigated and it got resolved without needing a lawyer.

HM
help_me_contractor_advice

I had a similar issue and ended up consulting with an attorney. It was worth the $200-300 for the initial consultation just to understand my rights.

JC
just_curious_contractor_WA

NAL, but from what I've read, you should check your state's specific laws. That said, definitely get a lawyer to look at the specifics.

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