Hey bros,So I had a restaurant during COVID in Western, NC. I took the EIDL for 930k with the hopes that thing would have got better. Inflation and labor shortages forced us to close in September of 2023. Then Hurricane Helene destroyed my area. I owe about 110k in taxes to my State. I had pushed them off in hopes of a good summer of 2023, to no avail. The EIDL has been sent to collections and is now 1.2m.I have contacted some CPAs about this, but while I wait I was wondering if any of you knew of the best way to handle all of this.I ran it with my parents who are both collecting social security and one is disabled, father. We had basically stock piled my money into my father's name, as my mother and I were on the EIDL and had other debts. When we closed my Father basically had a mental break and was literally pretending to be an Irish cousin. He went on a pilgrimage/late life crisis with all of his hopes into XRP. He's effectively blown all of the money we've had over the past two years, while saying he was handling the taxes and our mortgage. He put the house on deferment and didn't handle any of the taxes. He has been hiding this in hopes of XRP exploding. I didnt work for about 2 years but attended school as I had decent savings. He has maybe 8k XRP left, my mother and I are at wits end with it all.
file for bankruptcy
>>34491129I plan on it, but I own the house with my mother and father. We have animals too.
>>34490967Damn that is a clusterfuck of bad financial decisions... mostly on your father unfortunately. I truly don't know what options you have other than liquidating every possible asset and living in squalor while you build up capital. Your dad's financial brain is long gone, totally fried by crypto brain. He's just gambling at this point. If your finances are tied to him, you are going to go down until there is no further depth
>>34491259Ye, it's super fucked and out of nowhere. I wasn't expecting him to go bananas after we closed, but I guess with him being old and having nothing left the stress broke him. I was just planning on using his credit to float it all back with a refinance or sell the house, but he was driving all over the country and anytime I wanted to discuss things he would either start weeping or blow up, and then drive off either way. I thought that he was atleast handling some of the backend shit, I didn't care as much as I should of I guess as I was pretty down about it all too. My restaurant was doing extremely well before COVID, had 2 more businesses starting the year of COVID type thing. I was hoping XRP would blow too, and when it went to 3.5~ I wanted him to sell it all as I had a feeling it was gonna dump. It did and he just kept buying more. Apparently owes a friend like 50k or somewild shit too. He has a shitbox car that costs 1200 a month. He owes 38k. It's worth 18k. Frankly I just want my mother and my animals to be safe and he can fucking rot. I'm probably going to liquidate all my shit as you say, save some money from my job, give it all to my mother and then bankrupt so she can get a place to rent. Shes likely going to divorce him. I am very Christian so it's hard for me, but the dude is legit mentally retarded, so I can't see her being SAFE with him frankly.Thanks brother. Atleast you confirmed he's gone bonkers.
>>34491259And every time I mention selling the house he just breaks down about "This is my home" etc. My area got rekt by Helene and is probably one of the most densely populated illegal immigrants area. Its all 2nd homes and tourism and only illegals will pile in together to make 15 and hour painting a billionaires house
>>34490967Did you not get the EIDL through a LLC?
>>34491419Over 200k you are personally liable. We earnestly had incredible business before COVID and during because my area is where all the rich white city folk went during BLM and COVID. I didn't think 30 million illegals and trannies in the military were going to be a thing.
>>34491419As an example of inflation. I fully furnished the restaurant with 50k. In 2023 I just wanted to replace about 60% of my kitchen equipment and it was 110k. No one besides the richest of the rich could afford the prices we had to raise to cover new costs. Over night I went from paying my dishwasher 14 to 21 from all the fucking Biden increasing the minimum wage bullshit. Restaurants got extra fucking weird during COVID and I didnt follow the mask mandate from the NC faglord so we had some faggot liberals stirring shit up.Many of them have died or have health issues now btw. Fucking sheep lmao
What a clusterfuck. My advice is to call in to The Ramsey Show so your problems will also entertain people (me). I can't help with your immediate problems so feel free to skip the rest of this post.>>34491259>mostly on your fatherI have to disagree on that. Taking on personal liability for a business is a very bad idea. Storing all your shekels under the matress of your disabled elderly father is also a very bad idea. The root causes of the current situation are those two terrible decisions, and not immigrants/inflation/a hurricane.>>34491376>I'm probably going to give it all to my mother and then bankrupt so she can get a place to rentThat's nice of you but you may be opening another can of legal worms here. Get an attorney to sort this bankruptcy shit out. You seem intent on always kicking the can down the road and blame things on external factors. I don't get the impression you're learning anything from all of this and are not changing your decision making process. I really hope I'm wrong. Good luck with all this.
>>34491555Yea you lost me at the "the issue wasn't the illegals, COVID, or the hurricane that literally destroyed towns".Why are restaurants closing left and right all over the place then you goy? Had the government not shutdown restaurants and made people believe that a mask while standing, but not while sitting will save you from the cold, they didn't have chickens farms and beef farms being burnt down, or passing a law requiring refrigeration to be 3 degrees cooler, making compressors burn out faster, and then those compressors being 3x the cost before COVID etc. You're likely a maskie, vaxxxie faggot that wants to be a subtle shitlord. I've recieved over 1m in money from the government and I'm not gonna have to pay back a dime you stupid fuck lmao. What a good citizen you are. Pic related.I seem intent on kicking the can because my politicians should all be hung. Bitchmade faggot lmaoI'm not even worried about anything but my mother mind you. The credit score and shit doesn't matter at all, because Ill just make a shitload of money like I did before. Pic related.
>>34491598>I wouldn't be in debt if nothing bad ever happenedYeah no shit Sherlock. Businesses can fail for a trillion reasons. That's why you don't let yourself become personally liable. This is very basic stuff anon.I'll let the rest of your rant slide because of your circumstances.
>>34491623What color rope do you like kike?
I take it back. All your decisions were made soundly, you couldn't have done anything better and if you continue like this your life will turn out great.
>>34491671You are 100% right actually. Ill pay less taxes and not have to pay back 900k. I simply get a new job and make money like it did before but with a bad jew score. Oh no I can't get into debt? Lmao seethe more kike I owe alot of money. They have a problem. BTW I've already figured out how to make 75k out of this shit show after I bankrupt. Turns out not being dumb goy cattle works. >wow someone didn't reveal the whole story on the internet Pay your taxes faggot lmao everyone remembers normie bitches like you for sure
>>34491671BTW they are likely passing legislation that will make the forgiveness cap for EIDLs 1m. Which is me. COVID and Helene provide massive tax breaks, which my nigger state hasn't factored in.So all in all I'm likely not going to pay more than half the taxes and I'm famous for being the Rebel King.You're the best goy though
>>34491671Imagine continuing to be a "good citizen" during COVID and BLM. Absolute bitch lmao
>>34490967so you had a business partner that you just trusted to handle stuff like taxes and you never actually verified that he was doing it?
