383. Nothing new in 2 months; tax filings, creditors contacting me, attorney general complaint pt 2

Chapters

• 1:03 Two-month business update
• 1:28 Attorney general complaint situation
• 2:55 Tax returns and bankruptcy trustee
• 4:47 Dealing with persistent creditors
• 6:38 Building resilience post-bankruptcy
• 7:42 Final thoughts and moving forward

Transcript

Speaker 1: 0:32

All right. Well, we're having a check-in and looking at the recording history, it's been about two months, almost the day actually. Wait, is it really? Yeah, like two months and a couple of days. Honestly, there just hasn't been anything new in life to really speak of.

Speaker 1: 0:48

It was funny because today, like 10 minutes ago literally, I was thinking, huh, I should probably record something for something's sake, and then all of a sudden I get a funny email. So two items today One is going to be attorney general stuff, another one is tax returns. So I got an email from the studio. They forwarded it from the attorney general. Long story short, a member submitted a complaint I have to reread it but something along the lines of I shut down the studio without giving a refund beforehand and so she deserves a refund, which that's fine Corporate and I and the new franchisee we figured that out like three months ago. So I'll just respond back with the same info and names and CCing and everything that I did on the first one. Just more entertaining than anything, uh, was my reaction. So the first time I got the email where they were like I don't know, we'll say five to ten members I can't remember the number, um, but they were like oh, class action, close the studio. He was strategically planning bankruptcy to screw over members and, uh, hurt people or something to that. That's what I remember it being like. And yeah, no one intentionally declares bankruptcy to take advantage of consumers. That never works out from what I have seen and what I can gather. But anyhow, it looks like it's just one member this time. So there's that. I'll forward a copy to my bankruptcy attorney and a corporate. That way they know that there's someone complaining to the attorney general about something that happened four months ago and they know what's all going on.

Speaker 1: 2:24

And yeah, I've been working with my accountant and my CPA, my or I guess sorry, I want to break that out my bookkeeper and my tax filing person. So my bookkeeper been paying her monthly for a year to confirm all the transactions, close out all the books, that sort of thing, and so I paid her one last year to close out the books and make sure everything on the accounting was taken care of, which is great. And then, um, after that she then hands it off to my CPA person who then files the tax documents. Uh, so that person's handling the personal and the business returns to make sure like we didn't do anything wrong or incorrectly. So she's working with all the info that we gave her and obviously we give her only the truth so that she can file that accordingly. Uh, it's middle March or end of March now. Still haven't filed yet.

Speaker 1: 3:19

But basically what happens? We file business taxes, personal taxes, with the federal and state and then, since there's losses and all that stuff, there's going to be refunds. And so what's going to happen is I directed the filing gal to have all the refunds sent to the bankruptcy trustee. So if we're going to do like through TurboTax or something they normally say, hey, we can wire the money today for a $20 fee. We're not doing that, we're just going to have a check mailed to the trustee. Um, if worst case comes to happen and they can't do that, then they'll. I don't know, I guess we'll have to have it sent to us and then we'll tell our trustee, like what the total was, and then we write a check for what they owe. But long story short, the trustee gets the first ebbs on it. So that's where that is. Um, what else? Oh yeah, there's a um.

Speaker 1: 4:13

One of the a couple of the creditors are late to the party. One creditor has texted me a few times saying like hey, hope you're doing okay, can we catch up and have a discussion? And I got it the first time and just ignored him. And then the creditor messaged me again. He's like hey, nathan wanted to give you some space, can we have a coffee and have a discussion about things? And it was very like cryptic. So I just ended up blocking his number because it's illegal for a creditor to reach out and talk to a. I guess what am I? I'm a debtor, yeah, um, so anyhow, that was kind of weird blocked him for his own sake. If he reaches out again, um, and like, wants to escalate tension, I'll just remind them that you can't be doing that, and so I have no idea if you've been reaching out to me a third time or beyond. So I haven't taken any action yet. Um, just gonna hope that that creditor goes away for their own benefit.

Speaker 1: 5:10

A couple other creditors have reached out and said like hey, um, llc owner, you still owe money for this thing or that thing. And they got mail already saying that we declared bankruptcy and so now those accounts are in collections. Collectors are now saying hey, we need to reach out, and my response is always like sorry, my attorney name is this Discharge number is that All communications should be through writing certified mail and please send to my attorney. Thank you, have a nice day and that's the end of it. So, just more annoying, um, I'm probably getting reminded of the bankruptcy, maybe like once a week at this point. Um, but it's like a five minute thing.

Speaker 1: 5:50

The final takeaway, which is kind of encouraging for the entrepreneur, that it's getting off the ground uh, for that first, um, for that first time where there was the attorney general complaint, all the members saying this was a planned thing, this was colluded, this was an attempt to swindle consumers. It was like five pages of screenshots of the email of the closure and all that. That first one really rattled me. Your stomach clenches up, you feel really stressed, you can't like sleep that well and it really rattles like my. I'm a bad person, you know, I hurt the world, I'm a destruction to humanity. You get all these thoughts and then, like, you send your response and then nothing happens, like it's. It's like a toothless wolf, basically.

Speaker 1: 6:34

And this time around, when I see the one person complaining, it doesn't shock me, doesn't rattle me, just more like, oh, I forgot about that business closing. It's not scary, like it's just a thing and just more of a hassle, kind of like if I don't know something annoying happened. So I wanted to give confidence that things are not always scary. You kind of build that thick skin and that's the end of that. Lots of updates, just finishing up some creditor stuff, tax filings, and then one person is five months late to the Attorney General party. Nothing new beyond that. That's where we're at, that's where we're going. Let's rock and roll.