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

[DiabeticSP]

DSP seems to think bankruptcy/foreclosure is just like selling shit himself to pay off debt, but instead the creditor does all the hardwork of selling his shit for him.


I dont think he understands/is willing to understand that the lawyers will sell it off for pennies on the dollar and give him a bill for the difference.

Phil seems very "well they'll sell it for full value just like I would" about everything.

 

[AnOminous]

DSP seems to think bankruptcy/foreclosure is just like selling shit himself to pay off debt, but instead the creditor does all the hardwork of selling his shit for him.


I dont think he understands/is willing to understand that the lawyers will sell it off for pennies on the dollar and give him a bill for the difference.

Phil seems very "well they'll sell it for full value just like I would" about everything.

I just wish we got to have video of him screaming and crying like some crazy on Hoarders when they realize their precious shit is going away.

 

[Spoonge]

Can he even pay for whatever lawyer he's using? Phil does know that they dont work for free right?

 

[King of Not Playing Games]

DSP seems to think bankruptcy/foreclosure is just like selling shit himself to pay off debt, but instead the creditor does all the hardwork of selling his shit for him.


I dont think he understands/is willing to understand that the lawyers will sell it off for pennies on the dollar and give him a bill for the difference.

Phil seems very "well they'll sell it for full value just like I would" about everything.

I don't see why they wouldn't strip his whole life down for parts. I imagine these people do this every single day, and have heard every attempt to make an exemption, and every sob story. If he's a sole proprietor, filing Chapter 7, it doesn't even really look like his "business" assets are safe from liquidation.

 

[MoonRocker]

I don't see why they wouldn't strip his whole life down for parts. I imagine these people do this every single day, and have heard every attempt to make an exemption, and every sob story. If he's a sole proprietor, filing Chapter 7, it doesn't even really look like his "business" assets are safe from liquidation.

There's a "Tools of the Trade" exception where you can (attempt to) exempt upwards of $10,000 worth of your tools so they don't get liquidated.

He seems sure that everything that's inside his gross office will be exempt from the bankruptcy.

God, I hope we get to see repo guys snatching his PS4 and TV off the fucking wall while he's flailing and yelling incoherently on stream.

 

[Freshtodeath]

he seems like he wants to keep as much as he can rather than sell his junk to lessen the burden.

 

[Schmeckel]

Can he even pay for whatever lawyer he's using? Phil does know that they dont work for free right?

Any begathons Phil has are undoubtedly going to the pocket of whatever bankruptcy lawyer slash bankruptcy attorney slash bankruptcy accountant. He's hoping to lump all his debt together and have the piggies pay for it all over the course of (whatever terms would be determined by the court) and he'll come out just shiny.

When he gets a good chunk of change from some idiot, normally he throws it at card pulls for oiled up bodybuilders, but maybe he'll be even tangentially smart and put those excess cheerssubsandtips towards something pahsi.....who am I kidding? Phil has no self control. He'll pay the bare minimum for whatever he's looking for and toss any surplus into a mobile game pit.

 

[AnOminous]

Any begathons Phil has are undoubtedly going to the pocket of whatever bankruptcy lawyer slash bankruptcy attorney slash bankruptcy accountant. He's hoping to lump all his debt together and have the piggies pay for it all over the course of (whatever terms would be determined by the court) and he'll come out just shiny.

When a Chapter 13 gets underway you generally don't pay your lawyer directly, but the lawyer files with the court for ongoing payment, which is taken from the payment plan.

 

[tzgnilki]

When a Chapter 13 gets underway you generally don't pay your lawyer directly, but the lawyer files with the court for ongoing payment, which is taken from the payment plan.

from what I understand, chapter 13 puts a trustee in place to collect all surplus income that isn't for bills, and distributes it to creditors

for once his money will actually be going to the bare minimum to survive, and bills

he won't have money to play with like he does now

 

[James Smith]

from what I understand, chapter 13 puts a trustee in place to collect all surplus income that isn't for bills, and distributes it to creditors

Through either:

• payroll deduction
• draft from account

So get ready to hear more complaints about overdrafts because he can't do payroll unless it attaches to Kat's checks.

 

[DarkSoulsPhil]

Through either:

• payroll deduction
• draft from account

So get ready to hear more complaints about overdrafts because he can't do payroll unless it attaches to Kat's checks.

Imagine if they took the money from his paypal, not his bank account. Something tells me that overdrafting paypal will give more drama than an actual bank

 

[tzgnilki]

Imagine if they took the money from his paypal, not his bank account. Something tells me that overdrafting paypal will give more drama than an actual bank

I think he would have to make sure the money is in his account before it's drafted by the trustee, he won't have many chances, his trustee will just apply to have the bankruptcy dismissed and creditors can continue with collection

 

[AnOminous]

from what I understand, chapter 13 puts a trustee in place to collect all surplus income that isn't for bills, and distributes it to creditors

for once his money will actually be going to the bare minimum to survive, and bills

he won't have money to play with like he does now

That would be ridiculously complicated. This is what an actual Chapter 13 plan looks like.

It's calculated in advance.

This is just a form, and I believe different districts and even individual judges use different forms, and a specific form is not statutorily required (that I know of other than requirements specifically cited in the statute cited in the form itself). A court could devise a more complicated plan, or even something where the trustee actually does have to look at it from time to time to adjust for fluctuating income. But that's not standard. He's probably going to get a monthly plan with a fixed payment, and that won't be changed unless one of the creditors or the trustee moves to change it.

 

[Freshtodeath]

So what does money go to first? bills or the trustee? What if you can't pay your bills cause the trustee takes it?

 

[James Smith]

So what does money go to first? bills or the trustee? What if you can't pay your bills cause the trustee takes it?

You get the plan adjusted or your bankruptcy is dismissed. However you have to pay your unsecured creditors as much as they'd get if you filed under Chapter 7 and I don't think he will have very much wiggle room.

 

[Kermit the Frog]

DSP seems to think bankruptcy/foreclosure is just like selling shit himself to pay off debt, but instead the creditor does all the hardwork of selling his shit for him.


I dont think he understands/is willing to understand that the lawyers will sell it off for pennies on the dollar and give him a bill for the difference.

Phil seems very "well they'll sell it for full value just like I would" about everything.

Seriously, the bank has no incentive to go out of their way to get top dollar for the shit they take from bankruptcies when they can just get the money from the person anyway. Phil would have been much better off in the years his stuff was sitting there actually selling it to his paypigs. Remember when Phil sold the Portal gun to one of his paypigs (who ended up being a gay furry)? He got top dollar for it and the shipping costs covered. The bank is gonna dump that shit quickly. What's funny is that when Phil was talking about the statues, he was describing them as being in "pristine" condition and worth a lot of money, the bank could get a lot of money from them and part of his debt is gone, dood! Cut to 30 seconds later he was saying the bank was taking "junk" off his hands and it's a good thing because it's taking up too much room in his closet. When it's in his possession, it's highly valued collectibles, but when it's no longer his suddenly it becomes worthless junk. He's such a child.

 

[ZehnBoat]

When it's in his possession, it's highly valued collectibles, but when it's no longer his suddenly it becomes worthless junk. He's such a child.

i've said it before, but it's worth repeating
if he loses his wacondo, he will spin it as a win
IT WAS A LEMON
DETRACTORS CLIMBING OVER THE FENCE
WASHINGTON IS A BAD STATE DOOD
SEATTLE AIR FUCKED UP MY BACK
or
NOW IM CLOSE TO MY FOLKS SO THEY CAN.. I MEAN.. I CAN TAKE CARE OF THEM, OKAY?!

 

[BrunoMattei]

So essentially he needs to keep making $10K a month to maintain his cushy lifestyle, is that right?

 

[actually]

So essentially he needs to keep making $10K a month to maintain his cushy lifestyle, is that right?

@SoapQueen1 or @AnOminous can correct me if I'm wrong, but I think if he ends up on the payment plan (Chapter 13?), he will be given a set amount of money per month (let's say $5000) to pay his necessary bills (utilities, WAkhando mortgage, etc) and have enough for food and such (as determined by the court). Anything above that amount will go straight to the people/companies he owes money to via a trustee, in an order I imagine is also determined by the court.

 

[BrunoMattei]

@SoapQueen1 or @AnOminous can correct me if I'm wrong, but I think if he ends up on the payment plan (Chapter 13?), he will be given a set amount of money per month (let's say $5000) to pay his necessary bills (utilities, WAkhando mortgage, etc) and have enough for food and such (as determined by the court). Anything above that amount will go straight to the people/companies he owes money to via a trustee, in an order I imagine is also determined by the court.

So just the mortgage which is about a grand, utilities, and other debt I imagine. Which leaves next to no room for games, consoles or expensive mail order food.