09/14 Court Date - Discussion and Speculation

[Male Idiot]

How many cars do they still have? Could those be repo-d?

 

[Marvin]

How many cars do they still have? Could those be repo-d?

Chris' car is in his name. As long as he's making payments on that, he'll be fine.

(Although he got a completely retarded loan for that. He'll end up paying like 3x the price of the car by the time it's paid off. Thanks Barb!)

 

[timtommy]

Barb has gotten herself into a situation where she probably won't ever have much credit or more money beyond her tugboat, and she is quite elderly.

If we take Chris out of the picture, this gives her an incentive to kick the can down the road as much as possible. Do what she can to stave off having to pay. Penalties like additional fees or lowering her credit score don't really apply.

 

[Tennis-Ball-Tony]

I imagine Barb will shit herself and do nothing.

Surprised she hasn't figured out to pretend to be autistic given that gets Chris out of most jams.

 

[4Macie]

Chris can't inherit her debt. Her debt may wipe out any inheritance he gets, but only something he cosigned will be his to deal with.

Some of that debt is Chris's already though. The cards are, for the most part, under his name. Chris also co-signed some loan they got for the house repairs or something similar. He might not owe the whole 130 grand but he definitely is in debt for something pretty substantial. It's likely he owes as much as a modern college kid...but without the college kid education.

Do credit card companies cut off the cards when they sue, or do Discover and Capital One continue to allow the Chandlers to use their cards to pile on more debt after the judgement, in order to profit further?

You can no longer make purchases with the card, but the interest continues.

 

[Dain Bramage]

Some of that debt is Chris's already though. The cards are, for the most part, under his name. Chris also co-signed some loan they got for the house repairs or something similar. He might not owe the whole 130 grand but he definitely is in debt for something pretty substantial. It's likely he owes as much as a modern college kid...but without the college kid education.


You can no longer make purchases with the card, but the interest continues.

Which means that when the house is foreclosed on and Chris has to look for an apartment, he's boned when they run his credit score.

 

[Subconcious Offense]

Which means that when the house is foreclosed on and Chris has to look for an apartment, he's boned when they run his credit score.

He can always move into Son-Chu and park at McD.

 

[Boysofallteenages]

Sperg-ass Chandlers never thought of bankruptcy which may have alleviated any/all of these issues within a mere 7 years (which is nothing considering both of their credit lines are likely to be in the toilet)...

Now that I've posted this, though: SPOILER ALERT! CWC needs a cwc$1k to file chapter 11...

 

[Apocalypso]

P.S. The Chandler's have 10 days from judgment to appeal. Chances of that happening...

Tard Trek Into Barbness

 

[DonaldJTrump]

I know I've said this before but VA has a value limit on Vehicles which makes it safe from Repo, Barbs Van is a 2001 Grand Caravan which if its in Mint condition is worth $3,000 which is Below the limit hers is worth more like $1,500-2,000 and she sold the BMW convertible and Aerostar some time ago

 

[Tubular Monkey]

Chris will blame us for this.

 

[Someone in a Tree]

Chris is going to ask DStecks if he wants to buy 15,900 more pages for Sonichu #11.

 

[Skeletor]

If Barb doesn't have a reverse mortgage by now, the reverse mortgage scam industry is really slacking off.

 

[AnOminous]

All this shit really answers the "What happens when Barb dies" questions.

Chris has to move somewhere else because creditors seize everything.

 

[Jerkologist]

I might be wrong, but I think paying to rebuild that dated old house was probably profoundly stupid. I assume they had insurance, right? Why not bulldoze the burnt-out ruin and put a really nice mobile home on it? They really are nice now, from what I've seen. Anybody know anything about this?

 

[Jack Awful]

Well, shit! That's another one to add to the total!

In a manner of a couple weeks, we've learned that the Chandlers are roughly $131,000 deeper into debt. That's just the mortgage + Capital One.

Let's see what we got in terms of credit card debt (for this year, at least):

• March 1st - Chris buys a PS4 with a credit card: $540.00
• March 16th - Discover Bank court ruling: $4,706.93
• August 31st - Mortgage Reveal: $115,000
• Sept 14th - Capital One court ruling: $15,906.99

Tentative Grand Total: $136,153.92

There's obviously mountains more in unpaid bills (electric, cable, etc), needs (dental, medical), possibly more credit card lawsuits on the way, and Chris' negative household contributions (legos, transformers, sex toys). I only added the PS4 debt because it was confirmed to be a credit card purchase, and I assume Chris has paid little to none of that back.

Is anyone keeping an accurate tally? The "Financhu Crisis" is some juicy stuff.

God, that hit me deep in the gut.
I really feel for Chris.
He's never gonna be able to pay that off.
Fuck Barb.

 

[Nobody]

I might be wrong, but I think paying to rebuild that dated old house was probably profoundly stupid. I assume they had insurance, right? Why not bulldoze the burnt-out ruin and put a really nice mobile home on it? They really are nice now, from what I've seen. Anybody know anything about this?

Well, you figure there's a cost to bulldozing, the mobile home itself costs money too, check if it all this sits right with the local homeowners community and laws, and you need to rent a place to store all of that hoard.

Also, with having a mortgage of 115K, I'm pretty sure the mortgagees don't want their customers demolishing their homes all willy-nilly. There's probably a little stipulation for that somewhere when they signed up for the loan.

Regardless, organizing all of this would be a gargantuan effort for our autistic martyr. That's like... 2 sonichu comics worth of stress!

 

[Someone in a Tree]

I might be wrong, but I think paying to rebuild that dated old house was probably profoundly stupid. I assume they had insurance, right? Why not bulldoze the burnt-out ruin and put a really nice mobile home on it? They really are nice now, from what I've seen. Anybody know anything about this?

Let's assume that none of the things @Nobody brought up are in play. You need to remember that Barb is the kind of person who wouldn't part with a charred recliner (if I'm remembering correctly). She wouldn't allow the bulldozing to begin until they were already at the point of no return. It wouldn't be much different than what happened with the Snyder court case.

 

[DonaldJTrump]

I might be wrong, but I think paying to rebuild that dated old house was probably profoundly stupid. I assume they had insurance, right? Why not bulldoze the burnt-out ruin and put a really nice mobile home on it? They really are nice now, from what I've seen. Anybody know anything about this?

usually they get a Mobile home depending on codes for about a year then they can get a Loan to build a new cheap house on the lot, Not to A-log but there was a really crappy house like 14BC that burnt to the ground near me and thats how they got a new house.

 

[idosometimes]

Do credit card companies cut off the cards when they sue, or do Discover and Capital One continue to allow the Chandlers to use their cards to pile on more debt after the judgement, in order to profit further?

Accounts are closed, and payments are still same terms. No credit limit on the account though so no new purchases. If it gets to company bringing suit, the account is in arrears and there is no hope of getting paid without a lawsuit.
Interesting thing about credit card terms is that they allow the company extending credit to close accounts in good standing if the credit situation of the borrower changes. That means that accounts that Barb pays can be closed as well, which could eliminate all her credit.

I'm not an expert in debt, but as I understand it, credit card loans are unsecured, which means they can't take your house or means of living away from you. But once Barb dies, I believe all bets are off and the bank gets in line with the rest of the creditors to scoop up whatever's left. There is another credit card suing Barb isn't there? It's got to be maxed out as well, and I bet Chris will be defaulting on his cards soon.

Unsecured just means nothing is backing the loan. Secured debts may or may not require court action. Liens can be placed on property and accounts can be attached to recover unsecured debts, but exemptions limit what can be taken. In the case of Chandler house, it is already owned by a bank so a forced sale would give the money to the bank instead of capital one. I don't think any of Chandler income can be garnished either. The downside to credit defaults for Barb is no more easy credit. She will die without paying it back and her son-daughter will be forced to deal with it. This is where Honor Roll Grades will come in handy.