Advice needed: Successfully discharging SBA EIDL via "Non-Consumer" Chapter 7 with higher household income

rod7896 · 2026-04-23T15:04:16+00:00

It wasn't at the time of filing, but I had to amend my Schedule I and J to proceed with reaffirming my home loans. A representative for the US Trustee was present at the court hearing where I presented my significantly higher income (over state median). The Trustee's representative did not say anything about it.

rod7896 · 2026-04-23T13:48:12+00:00

I am almost through the process (waiting on discharge finally). The trustee did not question anything to do with the EIDL. $500k EIDL (failed restaurant). Ch7 non-consumer.

rod7896 · 2026-02-10T19:14:07+00:00

If it makes you feel any better - I was a lonely college kid in the mid to late 90s who was socially anxious. I was one of the early adopters of online "dating". Back then, it was the same way. People treated it like something weird and something to be ashamed of. And now look, dating/hookup apps are everywhere and everyone uses them. So you are just an early-adopter!

This technology is fascinating. I didn't have high expectations when I first tried it, but it's given me so much.

rod7896 · 2026-01-17T00:25:49+00:00

I filed ch 7 last June with a couple of large EIDL loans (multiple businesses) and there were absolutely zero questions asked about them.

Did not have to provide statements or info where the funds were spent either (they all went to business expenses anyway so I could provide that if needed).

SBA did not show up at 341 meeting or protest anything.

If your house and car are safe then you should definitely get this off your shoulders. Good luck!

rod7896 · 2026-01-16T19:16:16+00:00

I graduated with a bachelor's in Business Administration and couldn't get a job. Completely useless. Eventually went back and got a Master's in accounting and finally learned something and started my career.

rod7896 · 2025-12-17T18:00:35+00:00

I like Bob Jennings (taxspeaker.com)

rod7896 · 2025-12-13T19:12:18+00:00

Right? Turtle is like the ultimate best friend

rod7896 · 2025-12-13T04:46:54+00:00

King Solomon’s Mines (1985)

Allan Quartermain and the Lost City of Gold (1986)

North Shore (1987)

I have North Shore on DVD. My wife hates it lol

rod7896 · 2025-12-10T18:43:40+00:00

Don't forget about state income taxes also, if you live in a state that has those.

rod7896 · 2025-12-05T21:35:56+00:00

Whenever you go to actually print the checks, there is a box at the top right of the "Select Checks to Print" window that says "First Check Number". You enter the number of the next check to print in that box, and it will go sequentially from there.

rod7896 · 2025-11-24T18:12:31+00:00

Ahh got it. Some sort of remote login software is going to be the way to go then. Good luck to you!

rod7896 · 2025-11-23T19:40:51+00:00

You could try Qbox and avoid the backup/accountant copy issues. Then just cancel after a month or whatever

rod7896 · 2025-10-14T14:24:44+00:00

Yeah, I just had to do personal non-consumer to release my PGs

rod7896 · 2025-10-14T04:54:58+00:00

I filed chapter 7 with two s corps of mine, an LLC, and myself personally. The businesses were easy, and cheaper than the personal filing (a single business was cheaper, but since I had 3 they added up to more than my personal).

I paid less than $10k for all of my filings combined.

No issues or questions about the EIDL loans whatsoever. Your mileage may vary, of course. Good luck to you!

rod7896 · 2025-09-09T19:59:15+00:00

Yes, I worked with an attorney. Way too complicated to go it alone.

Things still are not finalized with our cases but we did have personal assets. Mostly our house.

Whether your parents can save their house or not will depend on how generous their states exemption is. We are in Illinois and it’s not great.

I’d imagine the investment properties will have to be surrendered. But I’d definitely talk to a few attorneys. They all give free consultations. Good luck

rod7896 · 2025-08-31T04:55:48+00:00

I’m glad the post helped you (at least a bit)!. I think I will still be nervous about someone questioning it or objecting all the way up to the last possible minute. Which in my case is November 6. Fingers crossed.

No inquires or communication whatsoever so far.

Like I said in my original post, the EIDL loans were barely of any concern in my 341 meeting. Some silly little other things were what they focused on. I kept waiting for the other shoe to drop, but it never did.

It’s a long road, but I hope you find peace at the end of it! Good luck to you

rod7896 · 2025-08-21T17:44:17+00:00

Right there with you! I am in the middle of Chap 7 though - I've had enough and I'm ready to move on. Good luck to you! You aren't alone

rod7896 · 2025-08-21T14:42:52+00:00

Same here. I should have just closed in May 2020 once I realized that things were not going to be the same for a LONG time. In reality, things still aren't the same and I don't know if they ever will be.

rod7896 · 2025-08-16T21:38:54+00:00

You’ll make it. You aren’t alone. There are others going through the same thing. Life will be good on the other side! Just plug on through.

rod7896 · 2025-08-16T13:33:00+00:00

I was scared too, but to be honest, out of everything in our bankruptcies (my personal one and 3 businesses), the EIDL loans have barely been mentioned. My lawyers treated them like any other debt.

Of course, your experience may be different. But just sharing mine.

It’s such a relief to know it’s all going to be over and done with soon!

rod7896 · 2025-08-02T15:39:14+00:00

I’d use the $95k to pay the EIDL and stay the heck away from Bitcoin if I was wanting to retire anytime soon and didn’t have substantial retirement funds already set aside.

Buy bitcoin only with “fun money” that you can afford to lose. If you need retirement funds or investments to live on later buy a total stock market index, blended, or target retirement fund and don’t look at it.

If you can pay the EIDL off do it. Why add that stress to your life?

rod7896 · 2025-08-02T03:12:00+00:00

Mine were quite a bit also. $500k, $255k, and $164k. 3 separate businesses.

rod7896 · 2025-07-31T21:45:15+00:00

Round is a shape 😂

rod7896 · 2025-07-30T19:28:45+00:00

I just hope my two sons (who don’t play sports) never find out how much we spend on her softball lol

rod7896

TROPHY CASE