Saturday, August 19, 2023

Chronicles of Twatrick: Happy (two-year) interestversary!

Hard to believe, but it's been a full two years since a Saskatchewan judge told undischarged bankrupt and fugitive from financial justice Patrick Ross that he owes me, well:

and bumped up the interest rate on that from 2% to 5%. Given that the Saskatchewan sheriffs did, in fact, seize a few thousand dollars from Patrick's bank account before he closed it, it's hard to say precisely what he owes me today, but I'm guessing $115,000 is not far off the mark (an amount increasing by several hundred dollars a month, obviously).

More unpleasantly for Patrick (and as I reported here just days ago), since I filed (and won) to lift bankruptcy's stay of proceedings against me with respect to Patrick, I am no longer connected to his ongoing bankruptcy, but Patrick is still legally required to pay off his outstanding Conditional Discharge Order (ballpark estimate: $25,000) to get out of bankruptcy, none of which would go to reduce what he owes me.

Oh, and only after my enlightening chat with a senior OSB (Office of the Superintendent of Bankruptcy) analyst was I reminded that, given Patrick's years of neglect of his bankruptcy file, when he does try to get out of bankruptcy, he will assuredly be ordered to turn over years of financial records, especially including whatever he received by way of inheritance from both of his long-suffering parents, all of which would be treated as "after-acquired assets" by his former trustee.

And to think that, years ago, Patrick was offered the chance to make all this go away for around $10,000. Ah, the road not taken.

P.S. It is worth noting that said OSB analyst also assured me that the OSB has precious little interest in chasing Patrick, explaining that 1) since I am no longer associated with Patrick's bankruptcy, I really shouldn't care about it, and 2) if Patrick wants to spend the rest of life in bankruptcy, the OSB is more than happy to leave him there.

I'm sure his family must be so proud.


RossOwesDay said...

Maybe Twatsy should stay in bankruptcy until he dies from a fast-food/obesity related heart attack in the next decade. It's pretty plausible that his life wouldn't be a lot different if he had never maliciously defamed you. He'd still be a fat, uneducated balding incel in Ken's basement trolling the internet. Is $25,000 worth the right to collect frequent flyer miles on his many fast food purchases on a hypothetical credit card?

Depending on how much money Twatsy got in his inheritance, perhaps the bankruptcy would undermine his ability to finance a car or house? Although maybe he'd just be able to pay cash for those things if Ken left him a healthy chunk of money.

As you've said in the past, most people can't wait to get out of bankruptcy. Unfortunately, Twatsy's pathetic lifestyle appears to inure him from most of the downsides of bankruptcy. Maybe I'm missing something here.

CC said...

ROD: As I've been warned over the years, if someone has absolutely no ambition and is willing to live a vacuous, off-the-grid lifestyle with no interest in ever having their own home or business or any essence of permanence, it is entirely possible to stay in personal bankruptcy indefinitely. It's even easier if you're perpetually enabled by parents who continue to subsidize you and give you a cheap place to stay, and run interference for you year after year.

Patrick's problem is that, now that his parents are not there to enable him anymore, how is he going to keep this up? As the months go by, I suspect it's going to be harder and harder for Patrick to continue to dodge and weave and still be able to afford his $21 greaseburgers, so I suspect it's just a matter of time before Patrick's life comes crashing down around him.

Patrick has had numerous chances to salvage the situation over the years, and he's burned all his bridges. Sooner or later, there will be a reckoning. And it will not be pleasant.

CC said...

ROD: Even if Patrick inherited enough to buy a house with cash, that would not end well for him as all I need to do is pay for the occasional title search to see if he owns any property and, if so, I would immediately file to seize it pursuant to my collection proceedings.

Also, if he *did* inherit a pile of cash, where would he keep it? As soon as it went into a bank account, I'd get Saskatchewan sheriffs to seize it. So there's zero chance he'll ever end up owning the current Lloydminster residence.

I think it's safe to say, Patrick did not think this through.

RossOwesDay said...

Very interesting. Twatsy not thinking things through is a recurring theme throughout this saga.

This raises the question, with no bank account (and certainly no credit card), how is Twatsy currently paying for his $21 greaseburgers, AEW tickets and OnlyFans subscriptions? Either Ken left a pile of cash under Twatsy's bed next to the heavily-soiled February 1997 issue of Swank, or someone else is letting Twatsy use their debit/credit card?

I'm not an "evil genius" like Twatsy, so I can't imagine the ridiculous plans he has for dealing with his financial and legal problems.

CC said...

ROD: It is entirely possible that the late Ken Ross left Patrick a shoe box of cash, but that would likely show up as a sizable and very recent withdrawal from Ken's bank account, and that is the sort of thing that an executor should be looking for -- any odd, inexplicable and large financial transactions related to the recently-departed.

I'm sure there are all sorts of games that could be played here, but none of them are sustainable over the long term. Sooner or later, Patrick is going to have to be self-supporting, and that's when we find out what his long-term plans are.

Anonymous said...

What if the Lloyd house was left to some other family member, and the family made a quiet, under-the-table agreement to just let Patrick live there for cheap or free? If the house is in someone else's name, you wouldn't have the legal right to seize it, even if Patrick is living there, would you?

CC said...

Anon @ 8:11 AM:

This idea has come up before and I just don't see how it could work given all of the possibilities.

First, as we can all see, the house cannot be left to Patrick for reasons above -- I would, through a land title search, notice that and file to seize the house. So leaving it directly to Patrick is a non-starter.

Leave it to one of the siblings? I can see that happening only if, in the sense of fairness, one sibling gets the house, while the others get some equivalent of cash. If that doesn't happen, I doubt the other siblings would tolerate such inequity.

So let's say there's a disbursement such that one sibling gets the house, while the others get equivalent-valued assets of some other kind, and everyone's happy. What is that one sibling going to do with a valuable property like that?

Well, he/she could sell it, but that defeats the whole purpose of allowing Patrick to live there cheap or free, so selling the house to a third party doesn't do Patrick any good. What are the other choices?

That sibling could, on their own, allow Patrick to live there for next to nothing, but that's wasting the value of the property. What is the point of owning a valuable residence if you let someone else squat there and get nothing out of it?

Finally, you could let Patrick live there as long as he pays rent that is fair market value, but where is he going to get that rent money? And I'm guessing the sibling would rather just sell and take the wad of cash in return.

No, I don't see a viable way where Patrick gets to keep living there for next to nothing, and where the rest of the family tolerates that situation. Have I overlooked anything?

Anonymous said...

… and unlike any number other jerks in the last 20 odd years, Patrick has been completely unsuccessful in monetizing his “victim hood”.

Anonymous said...

When is Saskatchewan going to send you the information you requested about Ken, Carol and Grampa Stamm's wills?

CC said...

Anon @ 2:25 PM: They already have, but I'm definitely keeping this to myself for now.