DSP's Loan & Savings Company

[James Smith]

Is the "They" in the 2nd sentence the bank or another creditor? And what, in your opinion, is the result of Phil being sued if that's what happens with regard to his other debts and whatnot? Does it just steamroll him toward bankruptcy?

The bank.

There's a jurisdiction issue in a lawsuit like this because DSP and the lender are in different states. I don't know if they will sue DSP in CT because he owns property there, if they have to sue him in WA because he lives there, or if they can sue him in federal court because the two parties are from different states (in that case they'll still have to sue in a WA-based or CT-based courthouse and I don't know which.) Either way ultimately they'll more or less just get an authenticated copy of the court judgement sent to the state where the assets they want access to are located and get permission to seize stuff there.

For example, they will attack his known incoming payments from Twitch, PayPal, AdSense, and Patreon. Some friendly neighborhood Kiwi Farms user could- in the event of a successful lawsuit- point out to the lender's counsel that we track DSP's income monthly and show them how we get to those numbers. The lender's counsel would happily accept that information and instruct some employee on their staff to replicate the research. Once they know the payment is imminent they would simply ask a court to order the payor to redirect the funds to whoever won the lawsuit. Wage garnishments have limits that ultimately mean they wouldn't be able to take much more than he already pays now each month. I didn't know this until recently, but those limits do not apply to independent contractors, which means they can take as much as they fucking want. TL;DR that leads into the answer to your question:

He negotiates (lol bitch the negotiation was "pay your debt"), files for bankruptcy, or goes homeless. Period. Full stop. End of story.

 

[That Hedonist Nerd]

So his current 'issue in the background' of his 'current financial situation' begging tactic is just that. . .he's trying to convince the bank that he is in a dire financial situation so that they will approve a short-sale or a voluntary foreclosure? And since there is no reason the bank would go for this instead of just replying, 'No, fuck you! Pay us. If you don't we will sue you, and you will still have to pay us,' his 'behind the scenes stress' is just that he's decided he wants to dump the ConnDough, without the means to do so because he is like $50K underwater on it, and isn't being allowed to. . .again. . .

So his new begging tactic about his 'current financial situation' that 'U guize don't wanna hear, just gib me munny OKAAAY?'. . .is the regular one of paying his monthly bills with a $7.5K to $10K income?

If he actually goes through with his """plan""" for dumping the ConnDough will it trigger the lender of his Wakahndo home loan to require Mortgage Insurance payments? PMI on his Wakahndo loan could potentially cost him like $250 to $500 a month

PMI: What Private Mortgage Insurance Is And How To Avoid It | Bankrate

Find out why lenders impose this extra mortgage cost, and what to do about it.

www.bankrate.com

There's no 'convincing'. Me, SoapQueen and others have shown actual black and white bankruptcy flowcharts. It really sucks and its super invasive and you feel worthless but weirdly enough your credit score goes to 750 - 780 no matter where it was pre-bankruptcy.

 

[LiquidCancer]

Reminder: DSP pays hundreds of dollars in important bills every single day.

 

[Eugene Drizzledick]

Reminder: DSP pays hundreds of dollars in important bills every single day.

Not only that, Phil gets overdrafted constantly, which there's obviously nothing he could do about, he does everything correct.

And then he gets new bills every single day, in the middle of the morning, and he is demanded to pay them immediately. Those evil corporations that want to stomp on the common guy and leave him dying in the freezing cold.

 

[actually]

For example, they will attack his known incoming payments from Twitch, PayPal, AdSense, and Patreon. Some friendly neighborhood Kiwi Farms user could- in the event of a successful lawsuit- point out to the lender's counsel that we track DSP's income monthly and show them how we get to those numbers.

Unlike Phil, I keep my receipts orderly.

 

[Freshtodeath]

DSP doesn't understand weaponized autism at all.

 

[Royalty Free Fish Food]

The bank.

There's a jurisdiction issue in a lawsuit like this because DSP and the lender are in different states. I don't know if they will sue DSP in CT because he owns property there, if they have to sue him in WA because he lives there, or if they can sue him in federal court because the two parties are from different states (in that case they'll still have to sue in a WA-based or CT-based courthouse and I don't know which.) Either way ultimately they'll more or less just get an authenticated copy of the court judgement sent to the state where the assets they want access to are located and get permission to seize stuff there.

For example, they will attack his known incoming payments from Twitch, PayPal, AdSense, and Patreon. Some friendly neighborhood Kiwi Farms user could- in the event of a successful lawsuit- point out to the lender's counsel that we track DSP's income monthly and show them how we get to those numbers. The lender's counsel would happily accept that information and instruct some employee on their staff to replicate the research. Once they know the payment is imminent they would simply ask a court to order the payor to redirect the funds to whoever won the lawsuit. Wage garnishments have limits that ultimately mean they wouldn't be able to take much more than he already pays now each month. I didn't know this until recently, but those limits do not apply to independent contractors, which means they can take as much as they fucking want. TL;DR that leads into the answer to your question:

He negotiates (lol bitch the negotiation was "pay your debt"), files for bankruptcy, or goes homeless. Period. Full stop. End of story.

Ratting him out like that would be the most heterosexual of gay ops. Please god, someone needs to do it if we hit that stage.

 

[JamFlowMan]

Snip

If/when this happens are court documents available to the public? More importantly will those documents include accurate numbers on Phil's income? The people who track his income here are fantastic but people have wanted a hard number on what Phil makes in a month/year for a long time.

 

[James Smith]

If/when this happens are court documents available to the public? More importantly will those documents include accurate numbers on Phil's income? The people who track his income here are fantastic but people have wanted a hard number on what Phil makes in a month/year for a long time.

His historical income, current assets, current liabilities, and how those liabilities are secured (a house, a car, etc) will become permanent matters of public record. Someone with access to PACER can go grab an example Chapter 13 filing from the Eastern District of Washington if they want. You can pull the documents for free as long as you don't exceed $15 of documents in the three-month period. I'm already within a few dollars of that limit and don't want to accidentally go over it.

 

[the khat quaffer]

https://twitter.com/DSPArchives/status/1136411542688358400

@marlintan @SoapQueen1

This sounds an awful lot like he's trying to set up a short sale or do a voluntary foreclosure. Seeing as the short sale was rejected not all that long ago, that seems unlikely. So let's assume a foreclosure or surrender of some kind to the bank, which would square with tanking his credit (I assume). What repercussions would that have on the rest of his outstanding debt, if any?

Someone's evading their parents' naughty word filter

 

[DiabeticSP]

Ver archivo adjunto 793929

Someone's evading their parents' naughty word filter

E-W**ring?


Nevermind I'm retarded.

 

[Salubrious]

Quick 5 minute video of DSP just blatantly lying about the $1000 tip.

 

[actually]

Quick 5 minute video of DSP just blatantly lying about the $1000 tip.

https://youtube.com/watch?v=TH8aMOtN9oU

It's just incredible. Kinda wish people hadn't revealed to him how it was done, though, because now it can happen and there's no way to know.

 

[actually]

Got some insight into the "behind-the-scenes" problem. Whoever among us guessed that he was trying to ditch the CT condo were right. Sounds like he is/was trying to get some of those subprime mortgage refinancing deals, but his CT condo's loan was of a type that's not eligible (FHA, I'm guessing?) and because it's not his primary residence, he's not eligible.

Also still claiming his credit is so shit and his debt so large that he can't qualify for a refinance (presumably on his WAKhando).

 

[That Hedonist Nerd]

Got some insight into the "behind-the-scenes" problem. Whoever among us guessed that he was trying to ditch the CT condo were right. Sounds like he is/was trying to get some of those subprime mortgage refinancing deals, but his CT condo's loan was of a type that's not eligible (FHA, I'm guessing?) and because it's not his primary residence, he's not eligible.

Also still claiming his credit is so shit and his debt so large that he can't qualify for a refinance (presumably on his WAKhando).

If his credit is shit, then the banks would lower his credit limit. That's what they've done since 2008.

My ex-wife had a ton of credit cards. Her credit started sliding down, and almost every month when she'd make a payment to one of her CC, it was followed with a "Thanks, we've lowered your limit to AMOUNT_YOU_JUST_PAID"

They don't keep people around with a huge amount of credit that isn't being utilized at all.

 

[actually]

If his credit is shit, then the banks would lower his credit limit. That's what they've done since 2008.

My ex-wife had a ton of credit cards. Her credit started sliding down, and almost every month when she'd make a payment to one of her CC, it was followed with a "Thanks, we've lowered your limit to AMOUNT_YOU_JUST_PAID"

They don't keep people around with a huge amount of credit that isn't being utilized at all.

But his credit cards are all loaded. I mean, maybe they're lowering his limits still, but he's a wet dream for them because he's (probably) making mostly minimum payments on large amounts of higher interest debt.

 

[Freshtodeath]

Isn't it like a delicate balance. They want people who use their credit but also pay it off. Dsp must have been using all this paypig money to qualify for a refinance but it didn't end up working (whatever) that entails.

 

[James Smith]

Isn't it like a delicate balance. They want people who use their credit but also pay it off.

They don't care if you pay it off. They're getting loans at 5% and charging you 25%. Your interest payments will pay off the principal on their loan even if you make minimum payments.

 

[DiabeticSP]

Friendly reminder DSP did not qualify for the refinance because he had to show steady/rising income for 3 years and couldn't do so.

Thaf's the original "I need tips" that I can remember because he wanted to inflate his yearly income in Nov/Dec since cheers wouldn't arrive in time.

Did he ever manage to combine/restructure his mortgages into a combined loan? Because that will probably (along with the back taxes) prevent the bank from playing ball with anything else he tries.

 

[actually]

Did he ever manage to combine/restructure his mortgages into a combined loan? Because that will probably (along with the back taxes) prevent the bank from playing ball with anything else he tries.

I don't think he was ever trying to combine the mortgages. The plan, as best as I can tell, was to refinance the WAKhando at its presumably higher value (since Seattle's market prices had climbed), take the "profit" and use it to pay off some of his debt, including, I assume, at least enough of the CT condo to sell it via short sale or something.