[26-Mar-2020] Philip's 341 Creditor Meeting - When what should be 5 minutes becomes an eternity.

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BusyMaribo said:
So our Debt collector is a kf resident and a dectractor.

Best time line?

He purchased Phil's debt for pennies on the dollar in hopes of collecting for Citibank. Which means hes repping Citibanks line of credit.

Which is why he went in so hard on Phil in the phone call.

If he really is legit, and thats with a grain of salt folks, then that was truly funny.
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The bestest of timelines. I guess I'll have to watch the stream then. This sounds glorious.
 
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The streamer/debt buyer says that his primary purpose in calling into the 341 was to establish that the Pigroach realized he was insolvent in October 2019 (when he first contacted Rochelle), so that the other big time creditors will be able to show that any purchases made on their lines of credit after October 2019 were made in bad faith.
 
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millais said:
He can probably delude himself into thinking that he scored a big win today.
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Absolutely this. He's not seeing this as an L - Phil will think that because he pigsplained his 'career' and all the caveats of it that he isn't in any trouble from Nancy.

She sounded pretty sharp to me - and she was never going to call him out on his bullshit and call him a lying fuck.

He can go one of two ways - probably both eventually:

A) smug that he dodged that dirty detractor and shouting about how mentally ill we all are

B) he will do what he did when he got swatted - originally play it off as a walk in the park and that he isn't bothered then randomly decide it was some terrible traumatic experience and we are ruining his life.
 
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KD6-3.7 said:
Doubtful he will stream today or even tonight. I’m sure his head is spinning. He’s gotta think about how he’s gonna spin everything to his chat, and how he can make it sound like he was attacked from all sides by detractors.
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Whatever happens next won't be cheap. He's got to start raising fresh money right away.

Did anyone else catch the part about his taxes not being done yet? Wasn't there a big rush for that?
 
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Assuming @nohandsboi is legit (and I hope you won't blame me and a lot of people for being a little suspicious), I was hoping you could answer a few things:

- What does the process look like for purchasing one person's debt? I always thought those were packaged and collateralized, but I've never bought debt or had debt that needed to be bought, so I don't really get if there's a market for it or you called them or something.
- Does buying the debt give you any transparency as to how it was racked up (statements, ledgers, etc.) or is it just a certificate or transfer of ownership saying you're owed a certain amount?
- Do you plan on going after this in any way (Objecting to the bankruptcy or trying to get it dismissed, initiating collections of some kind if the trustee dismisses, etc.)
 
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millais said:
The streamer/debt buyer says that his primary purpose in calling into the 341 was to establish that the Pigroach realized he was insolvent in October 2019 (when he first contacted Rochelle), so that the other big time creditors will be able to show that any purchases made on their lines of credit after October 2019 were made in bad faith.
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The thing that isn't quite lining up for me, he established on record under oath that he made the decision to stop making payments on the Renton property in April, 2019. That would suggest to me that is when he realized he was insolvent, or imminently insolvent. So that actually opens up a much larger window for bad faith purchases, but why wasn't this brought up or highlighted?
 
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KD6-3.7 said:
Doubtful he will stream today or even tonight. I’m sure his head is spinning. He’s gotta think about how he’s gonna spin everything to his chat, and how he can make it sound like he was attacked from all sides by detractors.
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alternatively, there will be no delay in his stream and he'll go try to brag about how well he did while also asking for more money.
 
341 meetings are for collecting information, the trustee was very unlikely to throw out the bankruptcy or anything like that today. It's obvious that she smells Phil was rotten with how long this was and how she asked him damn near everything.

Today was good. The next 2 months are what matters, this is when the creditors can fuck Phil up and hopefully sell his WAkhando.
 
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