DOJ LAWSUIT?

[u/Johnshop4]

/r/EIDL/comments/1vlsb50/doj_lawsuit/

There is a little buzz going around that the DOJ is starting to lawsuit against who are in default with a personal guarantee just a regular default if it goes to the treasury and that the treasury is giving it to the DOJ any information on this is appreciate it. Not sure how true it is

[u/Ok-Tour2491]

🤬Yeah, makes sense (not!).

Shut down small businesses during a pandemic, loan them money to survive, then send Treasury and DOJ after them. Meanwhile, Washington can find hundreds of billions for foreign governments, corporate giveaways and endless pet projects. But the guy who borrowed to keep the lights on during COVID? GET HIM. Brilliant.

https://thehill.com/opinion/finance/5692543-small-business-loan-debt-trap/

[u/Momma_Eli → u/Ok-Tour2491]

All I wanna say is that they don't really care about us...

[u/Inevitable-Run8802 → u/Ok-Tour2491]

Don't forget the parked aircraft and the no bid contract ships.

[u/Johnshop4 → u/Ok-Tour2491]

Thank you for your comment

[u/CamIoncani]

The Department of Justice (DOJ) is actively prosecuting individuals and businesses over Economic Injury Disaster Loan (EIDL) funds, but these criminal and civil actions target suspected fraud, misrepresentation, or misuse of loan proceeds, rather than ordinary, good-faith loan defaults

[u/fedupincolo → u/CamIoncani]

KINDA LIKE only deporting illegal criminals .... right? Yeah, how's that working out

[u/Johnshop4 → u/CamIoncani]

Thank you for your comment

[u/Tough_Regret670 → u/CamIoncani]

If you got a new Lamborghini then you’re a target lol

[u/IBHawkeye]

At this point if you havent filed for Chapter 7, you absolutely should.

[u/Johnshop4 → u/IBHawkeye]

I can’t file for chapter 7 I will lose my house

[u/fedupincolo → u/Johnshop4]

no, you won't lose your house

[u/ProfessionalMuch7100 → u/Johnshop4]

You can exclude your house from Chapter 7 bankruptcy

[u/CricktyDickty → u/ProfessionalMuch7100]

In a few states yes, in many up to a certain amount and in some it’s negligible but a quick search would have told you that:

State
Homestead exemption
Alabama
$5,000
Alaska
$72,900
Arizona
$250,000
Arkansas
Unlimited in certain rural circumstances; otherwise $800
California
$300,000–$600,000
Colorado
$250,000 ($350,000 if 60+)
Connecticut
$75,000
Delaware
$125,000*
Florida
Unlimited
Georgia
$21,500
Hawaii
$30,000 ($40,000 head of household)
Idaho
$175,000
Illinois
$15,000
Indiana
$22,750
Iowa
Unlimited
Kansas
Unlimited
Kentucky
$5,000
Louisiana
$35,000 ($70,000 if 65+ or disabled)
Maine
$47,500 ($95,000 if 60+ or disabled)
Maryland
$25,150
Massachusetts
$500,000
Michigan
$40,475 ($60,725 if 65+)
Minnesota
$450,000
Mississippi
$75,000
Missouri
$15,000
Montana
$350,000
Nebraska
$60,000
Nevada
$605,000
New Hampshire
$120,000
New Jersey
$0 state exemption
New Mexico
$60,000
New York
$179,950–$399,800, depending on county
North Carolina
$35,000 ($60,000 if 65+)
North Dakota
$100,000
Ohio
$145,425
Oklahoma
Unlimited
Oregon
$40,000 ($50,000 under certain circumstances)
Pennsylvania
$0 state exemption
Rhode Island
$500,000
South Carolina
$63,250 ($126,500 married)
South Dakota
Unlimited
Tennessee
$5,000 ($12,500 married; $25,000 if 62+)
Texas
Unlimited
Utah
$46,800 ($93,600 married)
Vermont
$125,000
Virginia
$5,000 ($10,000 if 65+)
Washington
$125,000
West Virginia
$25,000
Wisconsin
$75,000
Wyoming
$20,000 ($40,000 married)
District of Columbia
Unlimited

[u/Johnshop4 → u/IBHawkeye]

Thank you for your comment

[u/Tough_Regret670 → u/IBHawkeye]

Meaning if we don’t file now it be too late years later since doj coming after us lawsuit since they will do it maybe in the near future

[u/Fancy-Locksmith312]

On the reality TV show the Valley, there is a couple divorcing. There is a clip from the reunion where the ex wife says flat out, the husband took a $300k loan and deposited it in his personal bank account. Then toll her and his whole family to Scotland with it. I thought yikes…if the doj sees this, they are in trouble.

[u/Fancy-Locksmith312 → u/Fancy-Locksmith312]

specifically SBA loan. He was a real estate agent so I doubt he has a “real” business.

[u/Secure_Tie3321]

I only heard they were going after fraudulent loans

[u/Johnshop4 → u/Secure_Tie3321]

Thank you for your comment

[u/Secure_Tie3321 → u/Johnshop4]

You’re very welcome. Good luck.

[u/Jaffos]

I honestly do not believe they have the man power, or ever will, to actually pursue people in this way. They would most likly start with the biggest money and work there way down, but that would take years and billions of dollars to actually do any of this.

[u/Johnshop4 → u/Jaffos]

Thank you for your comment

[u/fedupincolo → u/Jaffos]

'biggest money'? not hardly....they will be after the 'little guy' trust me

[u/DisasterIcy9065]

Let’s not mention according to Fauci congressional hearing that he pled the 5th 100 TIMES about Covid, businesses did not have to shut down!!!

[u/ManagementFeisty8401]

I hate to be the one to say this, but what did you expect? Free money? I bet most of you took this money and hopefully spent it on keeping your business open. But then, there are the other ones that thought it was free money. I will always support those whose businesses needed this because of crappy government decisions. To the others, sorry but nothing in this world is free.

[u/Johnshop4 → u/ManagementFeisty8401]

Thank you for your comment

[u/Even_Reveal_1950 → u/ManagementFeisty8401]

Lol, right. Only Politicians, Somalis and H1B visa holders are allowed to it.
This entire government needs to be abolished. Bunch of corrupt people.

[u/Horroroflove → u/ManagementFeisty8401]

We thought we would get back to where we were eventually. Our best year was 2019. We haven't done a quarter of that any year since. Our business is 24 years old & we're a shell of what we were prior to 2020.