Financhu Crisis Garnishment hearing (3 July 2019)

Discussion in 'CWC Discussion' started by Little Owl, Jun 30, 2019.

?

Guess the outcome …

Poll closed Jul 2, 2019.
  1. Court rules in favour of Chris

    0 vote(s)
    0.0%
  2. Court rules in favour of Midland Funding

    1 vote(s)
    12.5%
  3. Court rules in favour of Midland Funding, but insufficient funds get in their way.

    7 vote(s)
    87.5%
  1. Little Owl

    Little Owl Member

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    I am starting a dedicated thread on the Garnishment case because it has recently been re-scheduled to 3 July 2019 at 11:35 (local time).

    Midland Funding will probably have to wait until the debt is big enough, and then team up with other collection agencies to file an involuntary bankruptcy petition (see this post).

    I say this, because I honestly feel that Midland Funding is not going to get much money. If I recall correctly, Chris spends every last penny as soon as he gets money rolling into his account.

    And it is not just the SSDI/SSI, but also Patreon and until recently, eBay.
     
    Last edited: Jul 2, 2019
  2. Very Honest Content

    Very Honest Content Formerly a niggo (???) Staff Member

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    Chris will die still owing on this debt, just a guess.
     
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  3. king kong... with wings?

    king kong... with wings? Snek doesn't like being manhandled

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    I wouldn't be surprised if that happened either, I mean what else is there of value in his and Barb's Superfund site of a house? Their piss poor maintenence of the house and property has diminished its value and neighbors' property values if I read the CWCki right.
     
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  4. ICanFeelTheCosmos0704

    ICanFeelTheCosmos0704 Rekieta fanboy

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    Imagine being thousands of dollars in debt and having nothing to show for it. Maybe their cars are worth something, but they're probably full of hoard, and even if cleaned, would be worth less money that they're really worth.
     
  5. Little Owl

    Little Owl Member

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    The court's ruled in favour of Chris: when Chris spends every last penny that comes in on video games and other stuff, he means it.

    This is why I believe that if the creditors really want the money from Chris, they will have to wait until the debt is big enough, and then team up with other collection agencies to make Chris bankrupt.

    I remember a post from the Kiwi Farms where a user implied that the creditors will do anything to get their money back from Chris, even if it means accepting an offer by a recycling firm for Chris's hoard of Lego and other plastic toys. Most of us at the CWCki try to adhere to NPOV, but the reality makes it fucking hard.
     
  6. Very Honest Content

    Very Honest Content Formerly a niggo (???) Staff Member

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    How did they dismiss this for no funds on the 3rd, a Wednesday, when it's the 2nd, a Tuesday, today?

    Dark mirror hole or something?
     
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  7. Little Owl

    Little Owl Member

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    Mostly likely Midland Funding realising that the correct route is not garnishment, but either a repossession of the van (Barb The bank owns the house at this time), or a bankruptcy petition.
     
    Last edited: Jul 3, 2019
  8. One Too Many

    One Too Many Sexual Orientation: Heavy Metal

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    I found this:
    https://www.expertlaw.com/forums/showthread.php?t=197807

    According to this, dismissed no funds means that the court determined that the defendant has no funds or source of review that can be collected. As @Little Owl suggested the creditors could work together can get a somewhat substantial settlement but I don't know exactly how that would work. Apparently they can request to take money from the band if there is any and they can find out where it is, or more likely they can repo Chris' car which I think is the only running car right now; I'm sure they made a note of Chris' car as they proceeded with the debt hearings. I gotta wonder what Chris' credit score is, he probably can't apply for any more credit cards at this point and there's no way he can take out a loan, or lease an apartment.
     
  9. Skeletor

    Skeletor Skellington Justice Warrior

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    I’m amazed they’ve been able to keep the Ford Focus this long without it getting repo’d.
     
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  10. ICanFeelTheCosmos0704

    ICanFeelTheCosmos0704 Rekieta fanboy

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    No, the bank does. They still have a mortgage on it. I'm not sure if Barb signed it or if both Barb and Chris did.

    If Chris really can't get credit, then the panhandling is going to get turned up to 11. Chris's irresponsible use of credit has finally caught up with him.
     
  11. Little Owl

    Little Owl Member

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    Yeah, I sort of slipped up there. Sorry.
     
  12. ICanFeelTheCosmos0704

    ICanFeelTheCosmos0704 Rekieta fanboy

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    It's OK. It's easy to get mixed up on what Chris and Barb owe.
     
  13. Skeletor

    Skeletor Skellington Justice Warrior

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    The real lolcows are the banks that decided to let an adult autistic child take out a loan. I don’t feel at all bad for the companies that get stuck paying the tab.
     
  14. TiggleYaPoosay

    TiggleYaPoosay I Can Roll My Tongue

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    How has Chris ever been able to establish credit with no job? Or are his accounts all in his parents names (and the mortgage I’m assuming)?
     
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  15. ICanFeelTheCosmos0704

    ICanFeelTheCosmos0704 Rekieta fanboy

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    Yeah, his parents might have co-signed for him. He ran up credit card debt when Bob was still alive and Bob made him pay it off. Bob may have been on top of things when he was still alive, but with Barb and Chris being greedy and not knowing or caring how credit works, they got in this mess.

    Chris really hasn't worked much during his life, so I understand why money doesn't mean anything to him. Barb has wagered that her debt will be around after she dies and doesn't care what will happen to Chris's financial situation once she's gone.
     
  16. TiggleYaPoosay

    TiggleYaPoosay I Can Roll My Tongue

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    We need to bring back debtors prison
     
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  17. Skeletor

    Skeletor Skellington Justice Warrior

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    Some of these credit card companies will give anyone with a pulse credit. The whole industry is broken.

    Really, Chris’s SSDI and tendency to make minimum payments makes him the ideal customer for some of these companies.
     
  18. ICanFeelTheCosmos0704

    ICanFeelTheCosmos0704 Rekieta fanboy

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    Yeah, college kids used to be a target of credit card companies. Guys like Chris with a fixed, reliable income who make minimum payments would be a credit card company's dream. And they can sell bad debt to other companies - Chris's credit card debt and their mortgage were sold - at least the credit cards, IIRC the mortgage was sold to someone too.
     
    Last edited: Jul 4, 2019
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  19. Nobody

    Nobody Shitposter Staff Member

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    Where’s the vote for another...
    continuation?
     
  20. Little Owl

    Little Owl Member

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    I am sorry for the oversight. I think it was Chris’s impulse spending that made me assume that the garnishment petition had little to no chance of succeeding: as I said before, Chris really spends every last penny that comes in.

    Apart from Barb’s age, I feel that it is only bankruptcy that will have a life-changing impact on Chris: as soon as the news of Barb or Chris being made bankrupt reaches the bank that owns 14BC… they are gonna think twice about letting the Chandlers’ stay. The bank is likely to think that if the Chandlers’ cannot keep up payments on credit card debt, then it is very unlikely that they will keep up payments on the mortgage.
     
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