Apparently, undischarged bankrupt and financial fugitive Patrick Ross might be trying to pay off his debts by scamming visitors to his blog:
He really should come clean about what he's up to. I mean, besides running from a $115,000 debt.
P.S. Apparently, Patrick is trying to pull something on more than one of his blogs:
I would be careful leaving any of your personal financial data with that guy; I hear he owes money.
16 comments:
Is Twatsy still going on about that, even though it's just the regular warning you get if you visit a website using http:// instead of https://? Jesus Christ, that guy is stupid beyond words.
Anon @ 9:06 AM: Yes, Patrick is still going on about that and, no, he's not being stupid, he's being the same kind of sleazy, execrable, childish liar that got him into personal bankruptcy and $115,000 in debt, with no home, no foreseeable future, no conceivable chance at a relationship, and a family that hates his guts for jeopardizing *their* financial future by possibly fucking up part of their inheritance.
This is not Patrick being a moron; rather, it's Patrick proving that he's learned nothing after more than 42 years on this planet.
Some people twist reality in their minds to make themselves the hero of their story, no matter what. And if, for the moment, the hero finds himself the victim of evil-doers, that will only make their inevitable, eventual triumph all the sweeter.
The less intelligent such a person is, the more absurd the story they tell themselves and the world.
He probably thinks time is on his side. From my reading here, I assume you are at least 20 years older and he probably thinks your future successors will not pursue this. You can't lien the property now because he doesn't own it so you have to try and catch the money going out of the sale. That watching forever may not be as diligently followed by your successors especially when being subjected to his inevitable gaslighting and the usual internet tough guy intimidation.
As I understand it (only from general knowledge), there is no specific time limit for settling an estate. If beneficiaries (eg his siblings) do not complain after the "executor's year" and assets don't need to be sold for the money, it could go on indefinitely if I am correct. So his strategy may in fact be somewhat sound. Just rag the puck for another 20 or 30 years. Not a great plan but a plan.
@Anonymous @ 10:54 AM:
That is somewhat incorrect. Once the Estate has been approved by the Probate Courts, the Personal Representative (executor) has approximately 6 months to provide the courts with an inventory of the estate at "fair market value". Establishing "Fair Market Value" generally means liquidating any assets that aren't specifically bequeathed to beneficiaries.
The estate can be drawn out for a long time _IF_ the will is contested, but an uncontested will needs to be wrapped up in a timely manner - which by the time you've done the final year's taxes and got the clearance certificate from the CRA, can still run to 18 months or more.
Having done this dance recently, that 6 month window isn't as big as it sounds.
MgS: Thanks for clarifying all of that. Personally, I can't see that collection of hillbillies dragging this out and leaving a valuable asset like that property in limbo. First, if the property is left exclusively to Patrick, then my problems are over as I step in and take it (or, more precisely, force its sale so I can collect what I am owed).
If it's left to one of the other siblings, then Patrick does not have a place to live. And if it's put on the market, then I wait and watch, and swoop in to seize Patrick's share.
Most importantly, there is no way the rest of the siblings will co-operate in dragging out the sale of the property if they're going to share in the proceeds since, as I have heard, none of them like Patrick and none of them are going to sacrifice their financial well-being to save his sorry ass. (In particular, I have heard from sources that one of the siblings is in financial straits and could really, really, really use the money.) Quite simply, nothing suggests any of Patrick's siblings has any interest in helping him avoid the self-inflicted calamity that is his life.
While, theoretically, this could drag on interminably, I have this feeling that's not going to happen. It's just a hunch.
He's still blogging?
Also, the 'Nexus of Assholery'? Sounds like a hardcore porno.
@Anonymous @ 1:43PM: I think college student Patrick thought that was clever - he didn't have the necessary insight to realize that he was telling on himself.
Anon 1:43pm: Patrick Ross has a different social media presence for the writing and appreciation of hardcore porno. He published erotic fiction (barf) less than 48 hours after his mom Carol Ross died. https://x.com/AdDragonfire
MgS: Thanks. I was also thinking of a different case with different circumstances. Suppose Patrick was the sole heir and appointed trustee in the will, informs the lawyer but never applies to start the Probate process. The government knows of the death from the funeral home, CPP stops and all but he may be able to transfer the car with just the death certificate and the will presented at license office, and he can just live in the house and keep paying the municipal taxes and hydro.
Not a good long term strategy but a great lazy sloth strategy for the short term. I don't know if anything other than heirs wanting it done can compel starting the ball after the funeral.
But if the estate is to be shared then he can't do this.
Anon @ 9:11 PM: I am fairly certain that Patrick's three siblings (one of whom is apparently the executor of the estate) are going to want their share of the spoils so I'm skeptical that Patrick can drag this out (even if that's what he's trying to do).
I will have more to say about this in a couple of weeks at the next interestversary but, for now, I'll just let this play out and see what happens to the property over the next few weeks or months.
So what was the story on how Patrick can get out of bankruptcy? It's one thing that he owes you all that money, but he's also personally bankrupt, so how does he stop being bankrupt? And what happens if he doesn't?
Anon @ 6:32 AM: I've discussed this a couple of times. First, according to a senior analyst at the Office of the Superintendent of Bankruptcy (OSB), Patrick needs to pay off the balance of his 2014 Conditional Discharge Order (CDO). He does not appear to have made a lot of progress on that and, given the initial CDO amount of just under $34,000, he appears to still have a balance in the neighbourhood of $25,000, probably a bit more. So he needs to pay that off *in its entirety* to exit bankruptcy. But it's not that simple.
Patrick is many years in arrears in his mandatory reporting to his trustee, so when he finally decides to pay this off, his former trustee will assuredly require Patrick to get up to date on all of his finances, including disclosing all of his "after acquired assets" (AAA), which will include years of salary, gifts, loans, inheritance ... all of it. And the trustee will then decide how much to keep as an administrative fee of that outstanding balance (possibly up to half of it), then decide how to dispose of the AAA.
Worst of all for Patrick, exiting bankruptcy changes *nothing* about the amount he owes me since I filed to have the stay of proceedings lifted with respect to me, which means that even though he is still technically bankrupt, the protection of bankruptcy does not apply to *me*.
As I have said many times, it is theoretically possible for Patrick to keep running and hiding and getting crap jobs in the oil patch in northern Alberta and having to drive a truck in -40C in the dead of winter and living out of a crappy hotel room or someone else's spare room and never being able to have his own home, or his own business, etc, etc. Sure, that's *possible*.
But if the day comes that Patrick is tired of dodging the OSB, and the Saskatchewan sheriffs, and my confidential informants who are keeping a watch on the Casa Ross property in Lloydminster, well, when that day comes, Patrick is going to find out just how deep a hole he's dug for himself.
P.S. I'm guessing Patrick has not been terribly forthcoming with his siblings about the extent of his train wreck of a financial situation. I'm wondering if that disclosure will ever happen.
Anonymous @ 9:11PM:
The vehicles are part of the estate. Until probate is cleared, the Personal Representative is at best a caretaker whose job it is to ensure that the estate and its assets are preserved. Everything is effectively frozen except for funds required to pay bills. You can’t even transfer ownership of a vehicle.
In theory, yes, Patrick might be able to find a way to take over paying the hydro and property taxes but that would leave the rest of the estate more frozen than a piece of tundra in January. A state of affairs that I’m fairly certain would not go over very well with the rest of the beneficiaries.
Let’s say he was the sole beneficiary for a moment (he isn’t, and we know this), and it was all coming to him, he still ultimately has to deal with probate at some point. Things like bank accounts and investments can’t be liquidated without the probate certificate - and trust me banks make doing that an enormous pain in the ass, even when you have all the paperwork sorted. (It took me several months and letters from my lawyer to the bank to get one set of accounts freed up - mostly because the banks work on the premise that if you aren’t a lawyer, they can ignore you)
So in order to get out from under all this, Patrick might have to shell out $140,000? And that's still going up every month? Ouch.
Anon @ 8:30 AM: Man, you people are curious. There is some ambiguity about how the money that Patrick pays to the OSB/trustee to get out of bankruptcy would be disbursed, but there is no doubt that Patrick has two debts here:
1) paying off his CDO to get out of bankruptcy, and
2) paying off the entire amount that he owes me.
As I was told, if Patrick pays off the entire outstanding CDO, any trustee that would process that for him would undoubtedly take a chunk in "administrative fees"; I was told possibly $10,000, possibly more, given how long Patrick has left this and how much work would need to be done to get current.
Once the trustee gets their cut, it's *possible* that -- as I was the only creditor -- whatever is left would go to me, and Patrick would get credit for that, but the credit would be only for whatever was left over after the trustee collected their admin fee.
Regardless of how that part works out, I am assured that no matter what, I would get the full amount of what Patrick owes me (an amount increasing by the day).
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