- Joined
- Aug 28, 2018
He did, but the teddy bear lacked a wig.. thus why I ever brought it up as an outcome.
Money 10/23 - Chris sued for debt a third time - Verdict: Chris owes $2,777.90 to Midland Funding
- Thread starter crayolasword
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- Feb 3, 2013
Gotcha back:
https://sonichu.com/cwcki/Ivy_Q&A#Threats
And it was sunglasses wearing teddy bear and Chris hid on the couch, underneath other stuffed animals
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- Mar 7, 2015
Lawsperg checking in. There seems to be some confusion here, which is totally understandable. There is debate over whether there can be a lien on a mortaged property, whether there can be lien on a car which was not paid off, and whether or not Midland would be able to recover.
This area of law is called "secured transactions," and it is controlled by Article 9 of the Uniform Commercial Code. Many lawyers and law students struggle with this material.
Different creditors may certainly have an interest in a single item of collateral. Some of the most important concepts in secured transactions deal with order of priority of creditors. There are specific rules on who gets to drink from the well first.
A purchase money security interest in consumer goods (e.g. an automobile) has "super-priority," and will jump ahead in the line of other creditors, even prior creditors. Midland could put a lien on the car, but they could only have their drink after the holder of the purchase money security interest was satisfied. Here is a good explaination of a purchase money security interest: https://www.investopedia.com/terms/p/purchase-money-security-interest-pmsi.asp
As far as the mortgage, I believe that it was not a purchase money mortgage (based solely on what I've read here, on the farms). Also, I'm not sure about the nature of debt Chris owes to Midland, nor the timing of it. I haven't done any sort of title search on 14 BC, and I really don't have time to do proper research to make any sort of definitive statement on the resolution of the debts.
This area of law is called "secured transactions," and it is controlled by Article 9 of the Uniform Commercial Code. Many lawyers and law students struggle with this material.
Different creditors may certainly have an interest in a single item of collateral. Some of the most important concepts in secured transactions deal with order of priority of creditors. There are specific rules on who gets to drink from the well first.
A purchase money security interest in consumer goods (e.g. an automobile) has "super-priority," and will jump ahead in the line of other creditors, even prior creditors. Midland could put a lien on the car, but they could only have their drink after the holder of the purchase money security interest was satisfied. Here is a good explaination of a purchase money security interest: https://www.investopedia.com/terms/p/purchase-money-security-interest-pmsi.asp
As far as the mortgage, I believe that it was not a purchase money mortgage (based solely on what I've read here, on the farms). Also, I'm not sure about the nature of debt Chris owes to Midland, nor the timing of it. I haven't done any sort of title search on 14 BC, and I really don't have time to do proper research to make any sort of definitive statement on the resolution of the debts.
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So this hearing is supposed to be today, in a couple of hours in fact, how soon can we learn about what happened?
- Joined
- Dec 7, 2015
They usually update the public docket within an hour or two. I get the feeling that it being so close to Christmas will only work in Chris's favor.
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- Oct 14, 2015
crayolasword
kiwifarms.net
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- Feb 12, 2015
Francine StripeCheer
kiwifarms.net
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- Feb 3, 2013
Judgment for the plantiff in the amount of $2,777.90 plus $55 costs. who wants to buy Patti's skeleton, $3000 NO HAGGLE?
- Joined
- Oct 14, 2015
So he gets tagged up with a 3000 dollar judgement against him and the first thing this fucker wants to do afterwards is tweet about mlp? Christ...
YanYanWan
kiwifarms.net
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- Dec 8, 2018
It’s funny that this will just prolong the Finachu Saga. It will last until the day he dies.
- Joined
- Feb 3, 2013
Give the neurons a few days to reach their destination.
- Joined
- Dec 7, 2015
So in other words..
"I want my $3,000! With Interest!"
Lol he's fucked, I doubt Chris can reliably come up with the %6 interest rate payments on time, much less put a dent in the balance.
- Joined
- Jun 25, 2013
So Chris owes nearly $3,000, and is expected to actually pay? Time to get a job e-beg so he can pay it off buy a fuckload of Lego sets and MLP toys.
So what is bound to happen if he doesn't pay any of this on time? I'm not an expert because I don't go into ridiculous debt for no reason.
So what is bound to happen if he doesn't pay any of this on time? I'm not an expert because I don't go into ridiculous debt for no reason.
Buck Mullet
kiwifarms.net
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- Nov 11, 2015
Might as well be $3,000,000 or $300 to Chris. What it really amounts to is another nebulous bill that he's going to have to deal with. Who knows how it's structured, but surely some kind of payment plan is in place. It has to be immediately obvious that Chris does not have a spare three grand laying around. So today why not celebrate with 'da Ponies? The matter is resolved, yay! There will be plenty of time to bitch, beg, and moan in the days leading to when he actually has to "pony" up.
zap2theextreme
kiwifarms.net
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- May 24, 2014
It really doesn't matter. Chris has lived his entire life daisy chaining debt upon debt to pay his minimums. He'll do this till the day he dies and his tard buxs are untouchable
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- Dec 7, 2015
They can't garnish his tugboat, but they(Midland) can put in the effort the IRS doesn't have time for and dig into his secondary incomes, i.e. patreon and eBay etc. and possibly take that to claims if he doesn't keep up. Even worse is his credit is basically locked until he clears this up, which means he's going to have to subsist on cash in hand, and I think it's been years since he's had to do that, and that was with Bob keeping him in line.
Chris doesn't save money, he won't be able to buy a car and rent even a shitty apartment.
zap2theextreme
kiwifarms.net
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- May 24, 2014
The kicker is that he's going to let everything slip because he believes all his troubles will magically disappear by the end of the year
Jetman
kiwifarms.net
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- Sep 28, 2013
Merry Christmas, Chris!
WHERE'S THE FUCKING MONEY?
WHERE'S THE FUCKING MONEY?
- Joined
- Dec 7, 2015
I'm sure even now some idiot is considering bailing him out.. which is the exact worse thing you could do for him. Right now he has a house, a car and some garbage he could sell, if he isn't forced into a budget now, when all those things disappear in the not so distant future, he's literally going to be on the streets.
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