How does reporting it benefit you?
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Free registration at the forum removes this block.I'm sorry you're having a hard time. I'm not 100% sure if this is the right place for this question. We're an ethical entrepreneur community.I apologize if this isn't the right forum for this question.
I have a step-daughter. Her biological father is a deadbeat/con man. He has paid a total of $60 in child support (just to prevent his license from being suspended). Currently he is only required to pay $50/month due to him being supposedly disabled. He supposedly only receives money from church support, state support, and tribal support.
Despite this, he has managed to find money time and again for lawyers to take us to court.
He also owns a used auto business. Actually, he has owned 3 over the last several years. I believe that he starts an Llc, takes out a business loan, gives the money to himself, then declares bankruptcy.
Is this legal? If not, how do I report it? I reported to the state DSHS office for unreported income/assets/etc. If I understand, it's not considered embezzlement. It might be tax fraud, but would it do any good to report it to the IRS?
Very unlikely scenario. Nobody would give him a business loan without a personal guarantee (if the business has no track record). If he declares personal bankruptcy, he won't get any credit for years.I believe that he starts an Llc, takes out a business loan, gives the money to himself, then declares bankruptcy.
I'm sorry you're having a hard time. I'm not 100% sure if this is the right place for this question. We're an ethical entrepreneur community.
Avvo.com may be a better alternative. I hope you find what you're looking for.
Edit: that being said, if you're looking to make some awesome changes in your relationship with money, value, and create a better world for your kids, check out Unscripted by MJ DeMarco.
He built this place and has positively impacted all of our lives.
How does reporting it benefit you?
Very unlikely scenario. Nobody would give him a business loan without a personal guarantee (if the business has no track record). If he declares personal bankruptcy, he won't get any credit for years.
In any case, he wouldn't be able to declare bankruptcy twice in two years. Also registering an LLC costs like $100-$200, so you don't have to be a baller to have 10 businesses.I was curious about that. It is, of course, possible he is getting the money any number of ways, and I'm cautious about letting my bias affect my thoughts. It just seems odd for him to suddenly have money and two LLCs in the last two years.
Just a thought, but have you ever considered hiring a PI to find out what he's really up to?
In any case, he wouldn't be able to declare bankruptcy twice in two years. Also registering an LLC costs like $100-$200, so you don't have to be a baller to have 10 businesses.
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