Texan Exemptions on Collecting Judgements - Is #kickvic Judgement Proof?

[JosephTX]

So I know under state law debt collectors can not touch the following:

• House
• 10 Acres in Urban Areas, 100-200 in Rural Areas
• $30,000-$60,000 in Personal Property

That said Wage Garnishment is illegal under state law except for child support, with debt collectors only allowed to seize your bank account.

So the question I have is how does this effect Federal Judgements?

 

[AnOminous]

So I know under state law debt collectors can not touch the following:

• House
• 10 Acres in Urban Areas, 100-200 in Rural Areas
• $30,000-$60,000 in Personal Property

That said Wage Garnishment is illegal under state law except for child support, with debt collectors only allowed to seize your bank account.

So the question I have is how does this effect Federal Judgements?

The hypothetical judgment may be from a federal court, but it will probably be under state law, and in any event, the source of the judgment doesn't bypass federal and state protections. Bankruptcy, though, is federal, and under bankruptcy law, you can't evade a judgment that derives from a willful tort.

So much like a student loan, it will stick around forever, it just might be problematic to collect. The people likely to be the first round defendants will have income sources and quite likely, some of them will have real and personal property in excess of the protected amounts.

 

[Far Queue]

I think the real money comes from the corporations or the people with a little more clout like Sabat or Douglas. Idiots like Toye are mostly just there to get bitchslapped around or to shake more information out of in order to get everyone else to settle.

From the streams with Nick, Ty Beard seems like the kind of guy who would apply Sun Tzu's ideas about war to the courtroom:

Thus it is that in war the victorious strategist only seeks battle after the victory has been won, whereas he who is destined to defeat first fights and afterwards looks for victory.

Sun Tzu - Art of War

Get the biggest idiots to make statements in their depositions that end up implicating the people with money that will mount a much stronger legal defense with a much more skilled legal team. Make them less likely to want to fight it out in court.

 

[RodgerDodger]

I think the real money comes from the corporations or the people with a little more clout like Sabat or Douglas. Idiots like Toye are mostly just there to get bitchslapped around or to shake more information out of in order to get everyone else to settle.

From the streams with Nick, Ty Beard seems like the kind of guy who would apply Sun Tzu's ideas about war to the courtroom:


Sun Tzu - Art of War

Get the biggest idiots to make statements in their depositions that end up implicating the people with money that will mount a much stronger legal defense with a much more skilled legal team. Make them less likely to want to fight it out in court.

The big corporations and players will likely settle and avoid being in a situation where they get hit with a Judgement.Funi RT and Sabat will settle quick. Toye Rial and the other individuals are more fucked.

 

[JosephTX]

Since the lawsuit is being filed in the state courts this is thread is redundant but all in all #kickvic is effectively judgement proof.

 

[AnOminous]

Since the lawsuit is being filed in the state courts this is thread is redundant but all in all #kickvic is effectively judgement proof.

A corporation worth $143 million is not judgment proof. Nor are a set of three VAs with a very substantial annual income (at least up until now), at least one of whom owns his own studio.

 

[JosephTX]

A corporation worth $143 million is not judgment proof. Nor are a set of three VAs with a very substantial annual income (at least up until now), at least one of whom owns his own studio.

Income is irrelevant in Texas since wage garnishment is illegal, giving you only the option to seize their bank account which can easily be circumvented by putting your money in another person's account, so that said most of the parties especially Monica and Soye are still judgement proof since I doubt they have more than $60,000 in assets especially after Ty destroys them.

 

[AnOminous]

Income is irrelevant in Texas since wage garnishment is illegal, giving you only the option to seize their bank account which can easily be circumvented by putting your money in another person's account, so that said most of the parties especially Monica and Soye are still judgement proof since I doubt they have more than $60,000 in assets especially after Ty destroys them.

I guess that's why nobody ever sues in Texas since you can never collect anything. Vic might as well just give up and shoot himself if I take this nonsense seriously.

 

[KE 521]

Income is irrelevant in Texas since wage garnishment is illegal, giving you only the option to seize their bank account which can easily be circumvented by putting your money in another person's account, so that said most of the parties especially Monica and Soye are still judgement proof since I doubt they have more than $60,000 in assets especially after Ty destroys them.

Vic was handed $125K to sue. Even if they are judgment proof he can afford a symbolic victory.

I agree the Beard is a strategist - he said as much. It’s quite satisfying to watch it all unfold.

The companies will pay. They’ll settle for the purpose of getting iron-clad NDAs alone.

 

[AnOminous]

Vic was handed $125K to sue. Even if they are judgment proof he can afford a symbolic victory.

I agree the Beard is a strategist - he said as much. It’s quite satisfying to watch it all unfold.

The companies will pay. They’ll settle for the purpose of getting iron-clad NDAs alone.

Ty Beard is not planning on a symbolic victory. Funimation is a corporation and doesn't get to hide its assets under homestead exemptions and vehicle exemptions and the long list of other personal exemptions an individual has. They can just go right to collection against Funimation for the full amount found against all defendants, as it will be jointly and severally liable along with all the other defendants.

They have the right of contribution against the other tortfeasors to try to get their share of that entire amount.

So if it's hard to collect against individuals in Texas, who cares? That's Funimation's problem, not Vic's.

 

[GC_Positive]

I'm interested, say Vic wins and they deliberately drag their feet when it comes to paying him:

1) Does the debt accrue interest?

2) If one of them dies, does Vic get paid first before the people in their will?

 

[AnOminous]

I'm interested, say Vic wins and they deliberately drag their feet when it comes to paying him:

1) Does the debt accrue interest?

2) If one of them dies, does Vic get paid first before the people in their will?

1) Yes. In fact, it may already be accruing interest. If there's ever actually a judgment, the complaint asks for "pre- and post-judgment interest at the highest rate permitted by law" among other things.

2) Maybe although if they die under a bridge there probably won't be much. Judgment liens are also well below things like tax liens so I wouldn't bet on collecting if one of these freaks dies. They may already be drowning in debt.

 

[JosephTX]

1) Yes. In fact, it may already be accruing interest. If there's ever actually a judgment, the complaint asks for "pre- and post-judgment interest at the highest rate permitted by law" among other things.

2) Maybe although if they die under a bridge there probably won't be much. Judgment liens are also well below things like tax liens so I wouldn't bet on collecting if one of these freaks dies. They may already be drowning in debt.

Texas authorizes 18% on civil Judgements by default.

 

[AnOminous]

Texas authorizes 18% on civil Judgements by default.

That's pretty damn steep.

 

[JosephTX]

That's pretty damn steep.

Yes Especially considering our constitution specifically declares any loan interest above 10% to be usury

 

[Beavis]

Income is irrelevant in Texas since wage garnishment is illegal, giving you only the option to seize their bank account which can easily be circumvented by putting your money in another person's account, so that said most of the parties especially Monica and Soye are still judgement proof since I doubt they have more than $60,000 in assets especially after Ty destroys them.

Trying to hide money won’t work. Ty mentioned on his last stream with nick he’s won judgements against people that thought they were clever and put assets and money in the name of a friend or family member. It didn’t work.

 

[AnOminous]

Trying to hide money won’t work. Ty mentioned on his last stream with nick he’s won judgements against people that thought they were clever and put assets and money in the name of a friend or family member. It didn’t work.

Another thing Ty mentioned is that Texas has extensive provisions for post-judgment discovery, so if they do get judgments against them and claim poverty, he can be up their ass with a lantern and a shovel for the rest of their lives. He's mad enough at at least one of the perps (Soye) to do just that.

 

[GC_Positive]

Sounds like if they win Vic Macaroni is going to be put on a pilot program for Andrew Yangs UBI. With the 18% interest, huge sum he'll be owed and poor nature of those sued he'll be able to negotiate a payment plan. Get that bag Vic!

 

[Kosher Salt]

Income is irrelevant in Texas since wage garnishment is illegal, giving you only the option to seize their bank account which can easily be circumvented by putting your money in another person's account, so that said most of the parties especially Monica and Soye are still judgement proof since I doubt they have more than $60,000 in assets especially after Ty destroys them.

Vic will get his money from Funimation. The others will probably end up with outstanding judgements that they'll never escape. Good luck ever getting a loan or credit card.

I'm interested, say Vic wins and they deliberately drag their feet when it comes to paying him:

1) Does the debt accrue interest?

2) If one of them dies, does Vic get paid first before the people in their will?

Not paying a civil judgement would open them up to the quite real possibility that a Texas court authorizes Vic to have a Texas Sheriff show up at Funimation HQ and inform them that they have something like 48 hours to cut a check if they don't want men with guns coming and seizing anything of value inside the building, up to and including the building itself.

More realistically, though, it would probably be easier to just seize money directly out of Funi's bank accounts.

That's pretty damn steep.

It's almost like they want people to pay up when a court orders them to.