Would you accept this offer?

That's not how the IRS works. They use their limited funds (rich people control the government and therefore control the purse strings and mission of the IRS) to go after targets that are most likely to yield success. That means they go after people who can't afford the best lawyers, at a rate extremely disproportionate to the rich people and corporations they go after, even after accounting for how many more average Joes there are than the wealthy elites and the Forune 500 companies.

 

Not that flow out of your account is bad, cash flow is actually good... But they will want to know what it is for and how much you owe.

 

You would want it in some sort of an LLC or corporation. You should be asking a good tax attorney type of person these questions.

 

I didn’t read all the posts, but I’m a bit ticked about this, the sba isn’t there for personal loans, they are there for business loans.

Changing “careers” isn’t a business and using a penny of an sba backed loan to me is fraud.

Now before the op tries to justify this, I know someone else who came here and asked a lot of questions and then went to the government to get “free money” to start a business but bought a boat with it. That’s fraud.

 

720 is not a bad credit score at all. Why didn’t you just walk into your bank, sit down with a banker and say, “hey, I am planning on starting a new career soon and would also like to finance a house in the near future. What’s the best way for me to get some money in my account and also give my credit a little boost?” I mean, you should easily qualify for a personal loan for 5k, use that to get through truck school, then pay it off when you start trucking and be set. Save up down payment money as you go. There are also down payment assistance programs out there depending on where you live. But don’t listen to me, I’m no banker and neither is anyone else here. Just go to your bank and talk to them. LOL

 

I agree with the others that said send the $20k back right now, but before you do that, maybe take it to the casino first. Boom! You’re welcome.

 

Thats literally a home loan... 120k at 3.75% 30 year...

 

Depends on where in the country you are. I know in my area, garbage men make less than $1k per week based on the job listings I see.

Also, unless they show me pay stubs or tax returns, I don't believe what any truck driver tells me they make.