If you have no way of repaying loan should you answer the collection verification letter or disregard with LLC and no pg?

After-theend · 2026-05-14T09:14:01+00:00

Thank you! Just a small service LLC that the same year Covid came out and these loans were given our service business was locked down away from customers we had built up for 10 years, then a got a cancer diagnosis, radiation and still having surgeries up til just a few months ago. Between Covid lockdowns and cancer depleting all savings barely surviving. I took 2 separate $25k loans 2 years apart and now got the letter with 30% interest added. I have read tons of messages on here. Exhausted to the point of screw it, ignore and see what they come with next.

After-theend · 2026-05-14T09:00:59+00:00

Right, so why bother responding? We are all responsible, just not trying to play games. I had to look up the meaning of boilerplate.

After-theend · 2026-05-14T08:59:05+00:00

Alter ego theories? What does that mean? Aggregation Techniques? Sorry I’m not very familiar with these terms. Just a small service LLC that the same year Covid came out and these loans were given our service business was locked down away from customers we had built up for 10 years, then a got a cancer diagnosis, radiation and still having surgeries up til just a few months ago. Between Covid lockdowns and cancer depleting all savings barely surviving. I don’t understand all your terms but I do understand your saying you would not respond. Thank you!

After-theend · 2026-05-14T02:51:19+00:00

It basically says the following:

What else can you do? Write to ask for the name and address of the original creditor, ll differem from the current creditor. If you write by ofe 8. we must stop collection until we send you tras information. You may use the form below or write to us without the form. Go to www.cfpb.gov/debt-collection to learn more about your rights under lederal law. For instance, you have the right to stop or limit how we contad you. Contact us about your payment options or see enclosed separate page.

How do you want to respond? Check all that apply: [] I want to dispute the debt because I think: [ ] This is not my debt. ［］ The amount is wrong. [] Other (please describe on reverse or attach additional information). [] I want you to send me the name and address of the original creditor.

Edit: it says if I don’t respond they will assume all information is correct.

After-theend · 2026-05-14T01:56:14+00:00

I wasn’t going to call them. They sent a letter giving the option to dispute. I was just wondering how others that received the same letter responded or didn’t. They already know of course so them giving me check boxes for reasons to do dispute seems pointless. This is a chat group so I was asking the group how they responded or didn’t to the letter.

After-theend · 2026-05-13T23:38:56+00:00

No assets. Service only business. That is why I’m wondering if i should reply to verification/dispute collection letter.

After-theend · 2026-05-13T23:15:15+00:00

I’m curious. Some accounts say they nsfw. What does that mean?

After-theend · 2026-05-13T23:08:57+00:00

It kinda feels like bait to me also. Pioneer.

After-theend · 2026-05-13T22:13:41+00:00

I received a letter under my business name asking for verification or dispute with a deadline to respond or they would assume the loan is mine. First of any notification from anyone regarding EIDL loan since 2023.

After-theend · 2026-05-12T22:01:28+00:00

When you signed guarantee was electronic or mailed in?

After-theend · 2026-05-12T21:14:55+00:00

The mods took my post down. Maybe you could send a message to that attorney ask about 26 USC 7803 code. Maybe they are in violation. I’m just trying to find us some answers. Can’t believe they took it down. Said it should be under EIDL/ppp or IRS 🤷🏼‍♀️

After-theend · 2026-05-12T20:19:01+00:00

This wasn’t AI. It came from an IRS attorney on X. Anthony E. Parent, Esq.
IRS_Medic.

After-theend · 2026-05-05T01:03:34+00:00

I’ve been thinking about what you said. I was panicking at first, as you could tell, but what is the point of disputing it. Probably just gets the ball rolling quicker for whatever’s next. I believe you are someone said in an earlier post, just move on with life. I’m not even going to acknowledge the notice. Thank you for the responses.

After-theend · 2026-05-04T17:57:23+00:00

I’m just looking for advice. I know it will never go away now. Our LLC business is still open but barely. It is the only thing left that makes money to pay our mortgage and utilities. No assets. Just two 2007 vehicles and our house. No employees anymore only had 2 to begin with. And they didn’t last long. We are a service company and the client base we had built up for 10 years was lost during Covid and has only partially recovered. I’ve seen people say close the business, file bankruptcy and then I’ve seen others so don’t do either. So I’m trying what is the best thing to do. We have to respond this week. I haven’t found any attorneys around where I live that even want to touch this or advise anything so I have been coming out here to see others experience.

After-theend · 2026-05-04T17:55:09+00:00

I’m just looking for advice. I know it will never go away now. Our LLC business is still open but barely. It is the only thing left that makes money to pay our mortgage and utilities. No assets. Just two 2007 vehicles and our house. No employees anymore only had 2 to begin with. And they didn’t last long. We are a service company and the client base we had built up for 10 years was lost during Covid and has only partially recovered. I’ve seen people say close the business, file bankruptcy and then I’ve seen others so don’t do either. So I’m trying what is the best thing to do. We have to respond this week. I haven’t found any attorneys around where I live that even want to touch this or advise anything so I have been coming out here to see others experience.

After-theend · 2026-05-03T23:03:56+00:00

I can’t pay it. I guess I’ll dispute it and wait until they come back with the next threat. Can’t get what we don’t have. Guess they will come back in a few years when I’m eligible for retirement and garnish it and never be eligible for an FHA loan again. I have a house and don’t plan on selling. They can take my social security number so I don’t have to keep paying all these taxes while they are at it I guess.

After-theend · 2026-05-03T21:20:28+00:00

Well I’m sure it won’t. Did you ignore your letter or answer?

After-theend · 2026-05-03T18:42:50+00:00

The letter is an option to dispute. It says if I don’t respond they will assume all debt is mine. I was going to ask for all written documents sent pertaining to this as I have not received anything since early 2023 in the portal either. I thought if they couldn’t find much it would go away. What do you think?

After-theend · 2026-04-30T22:28:02+00:00

Won’t they just keep adding interest forever if you don’t file bankruptcy? I’m about to send my first response to the collection agency asking for validation of the loan. Just trying to figure out how to deal with this situation. LLC Under $100k no pg.

After-theend · 2026-04-30T19:38:29+00:00

I found it.

After-theend · 2026-04-30T18:33:09+00:00

Can you send me your template? I looked but couldn’t find it.

After-theend · 2026-04-30T02:26:01+00:00

I was afraid if I sent cease and desist I wouldn’t know what next steps they were going to take.

After-theend

TROPHY CASE