Unemployment / Small Business / Sole Prop / Contractor My Journey and some Help

OVERVIEW:

M/52/Married / Houston / Writer / Public Speaker / Consultant http://www.chrisdancy.com/about

200K annual small business, Sole Proprietor

All events / consulting canceled through fall 2020

OPTIONS:

1. EIDL -10K grant
2. PPP- Forgivable 20K loan
3. Unemployment -3-4K a month
4. Ride It Out with Savings, Deferrals and Expense Reduction
5. Bankrupcy -Wipe out current credit card and other debt, resort to optioin 4.

PLAN:
I created a database to track my options and contacts: https://www.dropbox.com/s/buj78wjpltuhuz1/CleanShot%202020-04-07%20at%2012.26.51%402x.png?dl=0

RESULTS:

1. EIDL – Is not going to workout because it's not 10K, it's just 1K for me, if and when they ever figure it out.
2. PPP-Small banks are only taking their own customers, and my bank Wells Fargo, decided they can't handle the demand.
3. Unemployment –
   1. Filed April 2, 2020-Application number granted.
   2. Check April 3, 2020 -“TWC needs additional information to complete your claim for Unemployment Benefits."
   3. April 3, 2020 -Start calling and tracking results and options for TWC and Unemployment https://www.dropbox.com/s/jol4kems2leeuzm/CleanShot%202020-04-07%20at%2011.57.53%402x.png?dl=0
   4. April 7, 2020 – Reached operator. Sole Proprietors need to have TWC MANUALLY push their claim through. My operator pushed it through. Now I need to wait until the 12th to request payment. NOTE: TWC has NOT received guidance from the federal government for INDEPENDENT CONTRACTORS / SOLE PROPS for Texas yet.
4. Ride It Out – I created a view of my monthly bills tied to Maslow's Hierarchy of Needs https://www.dropbox.com/s/roggrgszxg97ber/CleanShot%202020-04-07%20at%2013.12.24%402x.png?dl=0 so I could focus on what HAD to be paid, vs what we could defer or request help on.
5. Bankrupcy– Investiaging local lawyers and preparing my bills, and debt in another database to attend a 341 hearing to make this process go as quickly as possible.

NET/NET: If you're feeling overwhelmed and you want guidance, you can use my template.

1. Sign up for an airtable https://airtable.com/invite/r/qcnqAOMb
2. Shoot me a message here https://www.chrisdancy.com/contact and I'll forward you the templates to create something yourself.
3. If you need one/one help, I can also walk you through anything via a zoom or phone call. Text messages back and forth make my brain hurt.
4. You will feel alone, you're not. There are people like me who want you to benefit from what we are learning.

TLDR: If you're a solprop, you need to get through to unemployment and have them manually push your claim into a new status. You're not alone.