Looking to see if anyone has any advice - TIA
Hello everyone! I have been closely following and reading all of the posts in order to manage this EIDL payback situation as I am helping my dad navigate the situation for his business. Here are the details. There are 2 owners (My dad and his brother) with a 50% share each of a Tree Service Contracting business. Business was established as a S-Corp. They applied and received a $149K EIDL loan no PG in July of 2020. They previously had someone that worked for them since 2015 that basically took care of everything in the office while they worked with the crews and got contracts. This woman would end up getting COVID-19 in Dec 2021/Jan 2022 and never came back in for work and just up and left and took all the company information with her. Payments were made for a few months and stopped as I wasn't even aware of this bill. We would later find out it was due to her father falling very ill out of the country and she went to care for him. My dad asked me to work with them in order to piece the company together again because she basically had all the information and there was never a formal "hand over" back to the owners. Fast forward to now, I have been here for 3 years and received a letter in the mail from CBE Group stating that they are the debt collectors on behalf of the Treasury and they are now trying to collect the debt on $225k (EIDL + their own $75k in "fees"). I was not aware of the loan and my dad and uncle have both been in and out of the business as their parents passed away recently in Mexico. We never received any other type of letter just the one from CBE Group 2 weeks ago today. I have just received a "Commercial Debtor Financial Statement Application" and were asked to submit that by Friday w/ 2 years of the business tax returns. Does anyone have any experience with this? I know some others have mentioned trying to reach out and not receiving any response after several weeks but I have not read about anyone else in a situation where they also received this response. Does anyone think that they may be willing to set up a payment plan with this information or settle? Any advice would be wonderful TIA