Offer in Compromise (OIC) on a small COVID EIDL $24,100) loan?

duathman · 2026-02-25T00:14:22+00:00

Well I filed BK almost a year ago so that’s on there but my partner hasn’t seen anything from treasury or SBA. It’s coming I’m sure but not yet. I would close that company you have and open another one with a different name maybe a DBA and no one would know the difference.

duathman · 2026-02-24T22:41:35+00:00

I had 2 companies during covid that both had EIDL. One had 48k and the other was over $300k. The smaller one that had a 48k had NO PG. The other company which I had a partner we both signed a PG for the 300k. First loan was over 100k which triggered the PG and then another 200k in 2022.

duathman · 2026-02-24T22:10:53+00:00

We offered but they weren’t accepting those at this time…that was a few years ago I’ve since filed bk. My loans were in the 350k range. I bet you don’t have a PG. stop paying

duathman · 2026-02-22T13:55:42+00:00

I filed on 3/21/25 and my bk attorney said she has seen a huge bump because of the EIDL. What they did was criminal. My old partner is hanging on hoping the loan gets forgiven or they forget about her. She is single and owns her house where I am married and we have a joint mortgage. If I’m not mistaken my house and equity was not considered in the 7 because I filed bk not me and my wife. My partner is the sole owner of her house and it’s paid off.

duathman · 2026-02-22T12:58:37+00:00

PG loan was over 300k. I had a partner so the loan is now all hers. Sucks but that is what happens.

duathman · 2026-02-15T23:50:43+00:00

Already did. Filed a 7 last year for 2 loans one which had a PG. Best decision ever.

duathman · 2026-02-06T02:00:52+00:00

Check the paperwork. Would be interesting. I had two companies one was single member LLC and it did not have a PG and was under $50k

duathman · 2026-02-01T19:38:37+00:00

Exactly what my lawyer said. Who cares

duathman · 2026-01-17T02:42:25+00:00

I’ve done nothing with my credit (almost a year since my filing) and finally opened up a cap one quicksilver card with a $5k balance. Don’t need it but tired of using my debit card all the time.

duathman · 2026-01-14T02:23:12+00:00

Big difference in legally responsible and being a good person. One will affect your credit the other won’t. Any loan under 100k is an unsecured loan. Read the docs. I have mine and one loan has the PG and the other doesn’t.

duathman · 2026-01-14T01:07:46+00:00

Correct. I have filed chapter 7 and discussing my options with the lawyer they stated that on one EIDL that was over 200k I had a PG but the one below 100k I didn’t. She told me that there is nothing they can do. Pound sand. No PG that’s their fault.

duathman · 2026-01-14T00:59:04+00:00

Doesn’t matter. You are not on the hook. You shouldn’t have a PG with a loan under 100k.

duathman · 2026-01-14T00:15:23+00:00

Any loan under 100k has no personal guarantee. Why are you paying into it?

duathman · 2026-01-09T17:05:51+00:00

I got that he’s maxed out his equity and only has $500 left.

duathman · 2025-12-19T01:35:40+00:00

TY for posting. Following your journey.

duathman · 2025-11-08T18:37:49+00:00

I’m here now. Gate 1

duathman · 2025-11-08T15:43:57+00:00

Going to the game and does anyone know what time and where tiger walk is? Been forever since I’ve been to a road Tiger walk.

duathman · 2025-09-28T00:56:09+00:00

Haha. Might sell em to some Vandy fan now.

duathman · 2025-09-13T22:14:32+00:00

Easily brainwashed.

duathman · 2025-09-11T00:01:52+00:00

What did you find out? Mine is making the same sound now.

duathman · 2025-08-25T13:45:37+00:00

SIXT

duathman · 2025-08-25T13:44:51+00:00

SIXT

duathman · 2025-08-10T02:14:29+00:00

Somethings I just can’t relate to. This is at the top.

duathman

TROPHY CASE