[Dec 15 2019] Foreclosure Saga - http://civilinquiry.jud.ct.gov/CaseDetail/PublicCaseDetail.aspx?DocketNo=FBTCV196091825S

[Forbidden Math]

That, or Phil is unbelievably stupid enough to not realize this is happening, which I always underestimate Phil on.

It's this. Phil's Law: if it's the stupidest possible way to do something Phil will do it that way.

Pretending it isn't happening and burying his head in the sand is the only thing he could have ever done if you really think about it.

 

[David Davidson]

It would not surprise me in the least if DSP did not care about any of this until the day he's actually presented with the bill he is owed and a due date for said bill. Until then, this is all legal mumbo jumbo that he doesn't care about.

He has been expecting this since May. He expects to be sued and then he plans to declare bankruptcy when he cant pay. Unfortunately, he thinks bankruptcy = all debt wiped and not the actual he has to liquidate all assets and pay the remainder off a court ordered payment plan. Plus all the legal fees he is gonna have to deal with.

 

[James Smith]

@SoapQueen1 will this presumed foreclosure result in his credit card interest rates skyrocketing or the cards bring closed up completely?

The interest rates and minimum payments will likely go up (with much less tolerance for late or below minimum payments) but the cards will stay open for the time being.

If he asks a card issuer to lower his rate or give him some other special deal they'll pull his credit report before deciding and ultimately say no, that's about it. I have about 7 credit cards and none of the issuers has pulled my credit report since opening the account. They aren't allowed to make credit decisions based on information not contained in their records of doing business with you or your credit report. The bottom line is his credit card issuers will most likely never know and if some idiot calls them up one by one they'll all ignore the tip.

 

[actually]

If he asks a card issuer to lower his rate or give him some other special deal they'll pull his credit report before deciding and ultimately say no, that's about it. I have about 7 credit cards and none of the issuers has pulled my credit report since opening the account. They aren't allowed to make credit decisions based on information not contained in their records of doing business with you or your credit report. The bottom line is his credit card issuers will most likely never know and if some idiot calls them up one by one they'll all ignore the tip.

So it'll basically make it harder for him to do things like increase a credit limit or open a new card, but it won't have any (immediate) effect on his current cards. If he has a variable rate card, would that be influenced by this the next time they evaluate what interest rate to set?

 

[James Smith]

So it'll basically make it harder for him to do things like increase a credit limit or open a new card, but it won't have any (immediate) effect on his current cards. If he has a variable rate card, would that be influenced by this the next time they evaluate what interest rate to set?

No. Variable rate cards are impacted by national interest rates, not your credit history.

 

[W00K #17]

How do you ever let yourself get that far in debt? Ffs just rent an apartment.

 

[James Smith]

How do you ever let yourself get that far in debt? Ffs just rent an apartment.

He literally bought two condos at inflated value.

CT condo estimated value:

WA condo estimated value:

 

[King Daddy Telomerase]

Any of Phil's videos where he's talking about cars is great material on why he's in debt.

Note that Phil has never needed a car since he's been known online.

 

[actually]

Note that Phil has never needed a car since he's been known online.

I would say he needed a car. What he didn't need was a leased BMW. If he'd rubbed two brain cells together, he'd have gotten something like what he has now that could probably be paid off (if he had made more than the minimum payments).

@SoapQueen1, how do you figure the WA condo was bought at an inflated price? It seems like, at least right now, that he got in right before the inflation. Or do you expect the bubble to pop sooner rather than later and return to less than what he paid for it?

 

[Kosher Dill]

No. Variable rate cards are impacted by national interest rates, not your credit history.

Well, there is the case of universal default - although the most straightforward forms are illegal now. It wouldn't surprise me if Phil's credit cards are the ones scummy enough to implement whatever forms of it are still legal.

 

[James Smith]

I would say he needed a car. What he didn't need was a leased BMW. If he'd rubbed two brain cells together, he'd have gotten something like what he has now that could probably be paid off (if he had made more than the minimum payments).

He didn't need a car for over 18 months. He would have saved money paying the early lease termination fee, using public transportation once per week, and buying a car in November 2015 when Leanna got a job. Even after Leanna got a job it's possible it would have been cheaper for her to use public transportation. That least was what, $300-500 per month not including insurance and registration fees? That's a lot of bus tickets, or even Uber/Lyft/taxi rides.

@SoapQueen1, how do you figure the WA condo was bought at an inflated price? It seems like, at least right now, that he got in right before the inflation. Or do you expect the bubble to pop sooner rather than later and return to less than what he paid for it?

 

[millais]

When mapping his weekly routine of grocery store, fast food, and retail haunts, didn't it all come out to a cluster of places all within walking distance of each other and not even that far from the WAkando? Especially since he refuses to drive on highways, that would seem to severely limit the utility of owning or even leasing a car.

 

[Kheapathic]

When mapping his weekly routine of grocery store, fast food, and retail haunts, didn't it all come out to a cluster of places all within walking distance of each other and not even that far from the WAkando? Especially since he refuses to drive on highways, that would seem to severely limit the utility of owning or even leasing a car.

A car is a status symbol, not having one says something, having a high-class one says something else; regardless of what you have, it says something about you. And having grown up rural, I'll admit that life sucks without a car, so I can understand the desire to have one if simply to have one; leasing a BMW is one of the worst things you can do unless you live on investment returns and have "FUCK YOU" money, even then I wouldn't do it. The problem is, he's lazy and thinks too highly of himself; so walking or public transportation just would not do. That I doubt he'd be able to attract anything above a crack whore if he didn't have a car.

 

[Royalty Free Fish Food]

I would say he needed a car. What he didn't need was a leased BMW. If he'd rubbed two brain cells together, he'd have gotten something like what he has now that could probably be paid off (if he had made more than the minimum payments).

He could have been using Uber/Lyft pretty reliably for the last few years. Living in the suburbs of Seattle guarantees easy access to ride-sharing service. I'm gonna power level a bit and say that I live about 45 minutes out from San Francisco in a small suburban city. I can call for an Uber at any point in a day and have at least 7 cars within like a mile of my house for 10 bucks to get to the local mall 4 miles away.

Cheaper than car care considering he goes out one day a week to get around that way if he ditched the car. He goes even closer than that to get to all his autistic errands and you can load groceries in their trunks.

 

[harbinger]

What he didn't need was a leased BMW

He could have purchased a brand new BMW and it would have been paid for years ago and still sitting in his garage with fewer than 20k miles and still needing an oil change.

 

[Kosher Dill]

and still needing an oil change.

What gets me about that "never changing the oil" thing is that BMWs are incessant when it comes to bugging you about getting them serviced. "Only 9750 miles till your next service is due!!" He must have been actively ignoring it.

 

[Sphadilcastro]

What gets me about that "never changing the oil" thing is that BMWs are incessant when it comes to bugging you about getting them serviced. "Only 9750 miles till your next service is due!!" He must have been actively ignoring it.

He didn't drive it enough to get to that point

 

[LiquidCancer]

He still has never admitted that he's being sued and foreclosed on. This shocks me. How long can you drag this out?

 

[AnOminous]

Especially since he refuses to drive on highways, that would seem to severely limit the utility of owning or even leasing a car.

Why the fuck would he refuse to drive on highways? They're the single easiest type of roads to drive on.

 

[Sparkletor]

Why the fuck would he refuse to drive on highways? They're the single easiest type of roads to drive on.

At least a decade ago Phil was driving on the highway. He had a leg cramp and was barely able to drive perfectly fine and nothing happened. He could have died that day because his leg had a cramp dood. Phil self diagnosed his leg cramp as a symptom of his mysterious debilitating back injury that only appears when he is expected to do any physical activity.

Keep in mind he only had this leg cramp happen one time in his life. This makes highway travel impossible unless someone else drives him. His leg and back are perfectly okay if he is the passenger.