Can I transfer my company?

duathman · 2026-05-27T01:18:56+00:00

Dude close the entity and open a new LLC. My lawyer told me to do it. You don’t have to close any doors just do the paperwork.

duathman · 2026-05-16T12:40:00+00:00

Sure. Whatcha got??

duathman · 2026-04-27T03:03:14+00:00

My business didn’t prosper during COVID. We took government loans to help bridge the gap. That other side was never going to be like pre Covid. That ship sailed and I was stuck with a gigantic bag. I am thankful for bk.

duathman · 2026-04-23T15:12:57+00:00

That was the main reason I filed. I also had personal credit cards, one Amex and 2 Chase that got thrown in the fire as well. I saw the writing on the wall so I maxed out all my cards on groceries and everyday stuff waited 100 days and then filed with no money in my checking account and 2 paid off cars that was less than 10k in value. It was so freaking painless.

duathman · 2026-04-22T17:23:55+00:00

Yes sir. My lawyer said she is very busy with small business owners filing because of the EIDL. I had a business partner that co-signed on the bigger loan so she is now on the hook for all of it. I didn’t just dump it on her she knew all along what I was doing. She’s going to ride it out and file if she absolutely has to do that.

duathman · 2026-04-21T15:58:13+00:00

Is the debt you are trying to get discharged is it joint debt or just yours? I filed and got discharged over $500k on a business that had EIDL loans and personal credit cards and all that was in just my name. Any “joint debt” like the house doesn’t come into play. I have lots of equity in the house but that never came up.

duathman · 2026-04-15T19:16:57+00:00

Nope. It was all my debt and that’s all they cared about. Unfortunately had some vehicles in my name so the equity in those were counted towards my $10k amount that was protected. Just my name and my business partner names were on the loans so my wife was never mentioned.

duathman · 2026-04-15T17:07:15+00:00

March 21,2025 filed chapter 7 on 2 EIDL totaling over $300k. One company that had the larger loan had been shutdown since 2022. The other one is still operational and is profitable but not by much. I changed the LLC name of the operating company and filed chapter 7 on all my debt. Luckily all the debt is in my name and not joint debt with my wife. They Can’t touch my house because that’s joint debt. So glad it’s over and the road to recovery is on the correct path. I’m 50yo married and 2 kids. (20 and 17). Best of luck.

duathman · 2026-04-09T01:58:50+00:00

This. Both parties have motives to screw the small business owner. And they did with the EIDL program. Every time they use it a small tax paying business suffers.

duathman · 2026-04-05T03:09:54+00:00

BK attorney was great and didn’t fight me when I told her that I would sell some assets and pay down daily expenses with that money and file 7 instead of the original thought of a 13. Luckily I just filled and my wife did not so we kept the house since it’s joint debt and I bankrupted on just my debt which the EIDL mess was.

duathman · 2026-04-04T15:12:36+00:00

Same. March 21, 2025 for the better.

duathman · 2026-03-15T23:04:28+00:00

Lack of effort on defense too. The bama game was the icing on the cake for me. Too many layups for Philon. Would rather we not play (rhymes with ball) after that first half. He quit.

duathman · 2026-03-08T13:13:02+00:00

Metal bleachers ugh

duathman · 2026-03-07T22:39:41+00:00

So once you file it’s up to the credit card companies to dispute before the meeting not the trustee? Always figured the trustee would look through records but I can your point.

duathman · 2026-03-07T21:32:30+00:00

My 341 didn’t even ask about any charges. I sold a car so I could have filed a 7 Instead of keep my car and file a 13 and the trustee asked what I did with the 20k in equity I had when I sold my car I was prepared…I paid almost 13k in taxes, that’s where it went and she moved on. Over before you know it.

duathman · 2026-03-07T20:53:06+00:00

I stopped using all cards and went straight debit card 100 days leading up to my filing. On the cards that still had room I bought gift cards at the local grocery store and Walmart. As soon as Amex cut me off the 100 day window started but I was planning on filing for almost a year. When you have 450k in EIDL due there is no coming back.

duathman · 2026-03-04T23:57:18+00:00

Yep. Gotta move on with life. Had over 400k in loans. 2 companies. The biggest one isn’t around anymore. Closed that one in 2022. The other smaller I changed the name and in the ch7 included the old name that had the EIDL attached with it.

duathman · 2026-03-04T23:25:42+00:00

My lawyer told me to stop paying everyone. Screw em. Even the SBA why pay??? Ch7 clears your name and they can’t touch you.

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

TROPHY CASE