How does a lien on someone's property work?

[JoeBrotheChildSpitGuzzler]

What if he immediately declares bankruptcy knowing he's gonna lose the house down the road anyway? Better to lose his house to the bank than pay off for a few years before being forced to sell and giving some to Quasi

Bankruptcy doesn't just wipe out the debts though. either he'd file a chapter 13 where he'd have to agree to payments and make them in order to stay in bankruptcy, or a chapter 7 (liquidation) where he'd have to sell assets like his bike, and vacation house but most likely not his primary vehicle or home. a 7 wouldn't work in his favor because he'd be required to declare anything of value under penalty of fraud.

 

[Slackjawed Cow]

Bankruptcy doesn't just wipe out the debts though. either he'd file a chapter 13 where he'd have to agree to payments and make them in order to stay in bankruptcy, or a chapter 7 (liquidation) where he'd have to sell assets like his bike, and vacation house but most likely not his primary vehicle or home. a 7 wouldn't work in his favor because he'd be required to declare anything of value under penalty of fraud.

Plus they would look into his purchase history and see that he has been buying a ton of luxury items. I dont think you can get away with racking up debt and filing like you used to sometimes be able to get away with.

 

[JoeBrotheChildSpitGuzzler]

Plus they would look into his purchase history and see that he has been buying a ton of luxury items. I dont think you can get away with racking up debt and filing like you used to sometimes be able to get away with.

definitely. The court is VERY disapproving of attempts to get around the law or manipulate bankruptcy. If he tries to transfer property or waste money to avoid paying they will have records and go after him. Thats the thing with finances, there's records for everything so it's hard to hide. unless oinky pigtits was smart enough to hide it, which he isn't

 

[CarolMaxheinie]

definitely. The court is VERY disapproving of attempts to get around the law or manipulate bankruptcy. If he tries to transfer property or waste money to avoid paying they will have records and go after him. Thats the thing with finances, there's records for everything so it's hard to hide. unless oinky pigtits was smart enough to hide it, which he isn't

This is one reason governments are so fucking terrified of crypto…far less traceable and a legitimate way to store value outside of the view of the taxman/bankruptcy judge/etc.

 

[Gay Faggot.]

This is one reason governments are so fucking terrified of crypto…far less traceable and a legitimate way to store value outside of the view of the taxman/bankruptcy judge/etc.

This is why crypto is evil, child. I’m sorry you’re so stupid. I can’t help you.

 

[Clint Ruin]

I love how were supposed the be the basement dwelling losers, yet we need it explained how liens work because (unlike a certain Rick Tomlinson) we've never had that kind of debt. Fucking loser.

 

[Uncle Anthony Cumia]

Don’t worry, Piggy will someday tell a fake journalist, and we’ll all laugh and laugh at the recording.

 

[Uncle Anthony Cumia]

This is the shit that angers me the most. The fat faggot flaunts spending like a you-know-what and he doesn't even have a fucking job.

I can't wait until the repo people start showing up at Pat's house. He deserves all of this.

Pat is a certain kind of rich. It rhymes with “Bigger”.

 

[O-BLOCK NIGGA!]

It will get very complicated. Not only am I not a lawyer, i'm especially not a bankruptcy lawyer. There's a homestead exception, but he fucked that up by living in half of it and renting the other half out. He can try to claim all sorts of exemptions in court, so who knows.What we do know is it will get very expensive for him in more lawyer fees. I would assume quasi will contest the bankruptcy and ask the court why he's claiming hardships and buying a 2k fridge, space phone and taking 3 international vacations a year.

He's also been recorded saying he will never pay quasi even if a judge orders it, something I would think the bankruptcy court would consider.

So the best thing for him to do is just pay Quasi and be done with all of this?

 

[Slackjawed Cow]

Remember pat asking where quasi got his money for the suit?

Turns out it will be funded by pat himself.

 

[Uncle Anthony Cumia]

Remember pat asking where quasi got his money for the suit?

Turns out it will be funded by pat himself.

Evidently money bags Tomlinson is whom had $17,000 laying around

 

[guest]

So if Quasi contests Pat's bankruptcy, that means he doxxes himself? Maybe that was Pat's plan all along. Checkmate children

 

[Uncle Anthony Cumia]

So the best thing for him to do is just pay Quasi and be done with all of this?

Pretty much. Pay or face asset loses from liens.

 

[Uncle Anthony Cumia]

So if Quasi contests Pat's bankruptcy, that means he doxxes himself? Maybe that was Pat's plan all along. Checkmate children

He can keep his anonymity and have an attorney file the paperwork explaining why he’s anonymous to Pat but the Judge can know his name and verify the judgment from San Francisco. Quasi can also get an order from Judge Schulman to have served on the proceedings if Pat filed bankruptcy.