DarksydePhil / TheyCallMeDSP / Phil Burnell - General Discussion

[WeeblesWobble]

Bankruptcy doesn't clean away your sins unless you're a company. Phil would still be on the hook, but he'll be on the hook with a huge black mark on his credit report.

Phil's home isn't in foreclosure, from what we know he has a lot of credit card debt but he has been paying it. There is no indication that his car loan isn't being paid. His bills are still being paid monthly. He's in debt but he is not in the type of debt that a bankruptcy would help. I could understand if his car was going to be reposesed, or his home is going into foreclosure, or the credit card companies were trying to take him to court, but it won't help him at all.

 

[Ruthless54]

Great link, I started to read through it, and I don't think that bankruptcy will solve his issues. From that website's "What Doesn’t Bankruptcy Do?":
-Will not eliminate mortgages
-Will not discharge some taxes (recent income tax debts and all other tax debts, according to the Washington Non-Dischargeable Debts link)
-If anyone co-signed on anything, they're still on the hook for it.

I doubt he is going to receive any sympathy from a judge. The level of irresponsibility in Phil's case will probably generate a couple local regulations...

 

[Freshtodeath]

Bankruptcy doesn't clean away your sins unless you're a company. Phil would still be on the hook, but he'll be on the hook with a huge black mark on his credit report.

Phil's home isn't in foreclosure, from what we know he has a lot of credit card debt but he has been paying it. There is no indication that his car loan isn't being paid. His bills are still being paid monthly. He's in debt but he is not in the type of debt that a bankruptcy would help. I could understand if his car was going to be reposesed, or his home is going into foreclosure, or the credit card companies were trying to take him to court, but it won't help him at all.

I'm surprised he is still able to get credit. Whoever keeps lending to him is a complete moron.

 

[JamFlowMan]

I doubt he is going to receive any sympathy from a judge. The level of irresponsibility in Phil's case will probably generate a couple local regulations...

Yeah I read you have to explain how you got into a financial mess to the judge. Now I just imagine the poor judge who has to listen as Phil stands up and starts "10 years ago I started a Youtube channel..."

 

[WeeblesWobble]

I'm surprised he is still able to get credit. Whoever keeps lending to him is a complete moron.

He has shown that he can make minimum payments. Minimum payments on a loan mean maximum interest. Give him a 30k loan for a car and he will actually take the 5 or so years to pay it off and wind up paying 40k for it lol. If he maxes out his credit cards and then make minimum payment on it, then he pays twice as much. Phil probably has a shit ton of open accounts on his report that are in good standing.

 

[actually]

I missed this due to the whole Youtube meltdown, but Phil has passed his Twitch totals for March and April (~$4400) and is probably going to pass February 2018 (~$5000) within the next day or two. May 2018 will be passed a few days after that, and he's still on track to hit just above $6000 (~$6300) by the end of the month. This, of course, presumes that things continue more or less as they have (i.e., no significant chunk cheers or tips).

With that said, things have been relatively quiet today, even with double streaming. He's currently at $120.65 in subs+cheers, and he's only gotten a max tip of $10 on each stream. With the smaller I personally saw, I'd estimate around $50 in tips. So again, a bog-standard day despite his desperate pleas for more money.

I'm surprised he is still able to get credit. Whoever keeps lending to him is a complete moron.

Lenders are happy to lend at high interest rates, even to risky customers, if they think they can string it along for a while.

 

[((CH3)2Hg)]

Since Phil has brought it up here is the faq for filing bankruptcy in Washington state.
http://www.washington-bankruptcy.com/faq.html#1
I'm not saying this is going to happen, but for those who want to talk about it here you go.

Well if I'm understanding the FAQs on bankruptcy correctly Phil may have some problems with keeping the house should he file. I think he would likely declare Chapter 7, which would discharge a large portion his debts outright as opposed to Chapter 13 wherein he'd need to develop a payment plan to get all his major debts paid in 3-5 years which I doubt he'd want or even be capable of doing.

The kicker of 7 however is that you only get to keep assets that fall inside the exemptions set by the state, if they do not they will be seized, sold, and used to partially pay off debts to be discharged after. For homes it states, "Real property or mobile home to $40,000 ( no limit if seeking to discharge debt based on failure to pay a state income tax assessed on retirement benefits received while a resident of Washington, 6.15.030)." The second part obvious does not apply to Phil and the $40,000 is based off the home's equity when filing. So if the mansion has as much equity as Phil seems to think it does he may lose it to get rid of debts anyway. I'm not familiar with what the estimated equity on the home is now however so he may be fine if it's not gaining value. Big takeaway seems to be as long as the housing market in Seattle improves and Phil flounders, the more likely he is to lose his home should he declare bankruptcy.

 

[DiabeticSP]

For what it's worth Phil claimed tonight during Vice City that he'd just start skipping on bills and ''decide which ones need to be paid".

 

[Il_Duke]

For what it's worth Phil claimed tonight during Vice City that he'd just start skipping on bills and ''decide which ones need to be paid".

Great idea for a man who thinks his best path out of this is a HELOC off of the WA Condo (for the record, I actually agree with him in theory, although he'd just discharge his CC debt to it and rack those back up in reality)

 

[Sparkletor]

For what it's worth Phil claimed tonight during Vice City that he'd just start skipping on bills and ''decide which ones need to be paid".

I think this is an excellent plan and cannot see any reason not to do this.

 

[actually]

Well, Anony just gifted a sub to Jim Sterling (jimquisition) and Phil hit SUPER SALT MODE. Full on mocking and everything.

Clip: https://clips.twitch.tv/ShakingFunnyDonkeyOneHand

 

[Ruthless54]

Yeah I read you have to explain how you got into a financial mess to the judge. Now I just imagine the poor judge who has to listen as Phil stands up and starts "10 years ago I started a Youtube channel..."

we all know hes going straight into being blindsided at his old job.... in 2010. I'd imagine a lot of early YouTube hotshots have been through the halls of the Washington state bankruptcy court... but the drano gargling unsecured debt, 2 homes 3k miles away from each other, and delinquent taxes are only made to look worse by his refusal to let go of 2011. His will be a unique case to be sure.

Well if I'm understanding the FAQs on bankruptcy correctly Phil may have some problems with keeping the house should he file. I think he would likely declare Chapter 7, which would discharge a large portion his debts outright as opposed to Chapter 13 wherein he'd need to develop a payment plan to get all his major debts paid in 3-5 years which I doubt he'd want or even be capable of doing.

The kicker of 7 however is that you only get to keep assets that fall inside the exemptions set by the state, if they do not they will be seized, sold, and used to partially pay off debts to be discharged after. For homes it states, "Real property or mobile home to $40,000 ( no limit if seeking to discharge debt based on failure to pay a state income tax assessed on retirement benefits received while a resident of Washington, 6.15.030)." The second part obvious does not apply to Phil and the $40,000 is based off the home's equity when filing. So if the mansion has as much equity as Phil seems to think it does he may lose it to get rid of debts anyway. I'm not familiar with what the estimated equity on the home is now however so he may be fine if it's not gaining value. Big takeaway seems to be as long as the housing market in Seattle improves and Phil flounders, the more likely he is to lose his home should he declare bankruptcy.

2 different houses, in 2 different states... and the condo isnt worth half of what's owed.... not sure how Phil's creditors are going to slice that pie up

 

[actually]

2 different houses, in 2 different states... and the condo isnt worth half of what's owed.... not sure how Phil's creditors are going to slice that pie up

If it came down to it, they would 100% go after the WA condo. It's worth more and is almost certainly in better condition. Not to mention that Seattle is a hot housing market right now and people are often paying over list price to get places. That bubble will pop at some point (maybe soon), but for now, the banks/lenders would try and get it sold fast.

 

[Mr.PiggyOinkOinkOink]

Well, Anony just gifted a sub to Jim Sterling (jimquisition) and Phil hit SUPER SALT MODE. Full on mocking and everything.

Clip: https://clips.twitch.tv/ShakingFunnyDonkeyOneHand

Jesus the hate salt is something, he acts like Jim went out of his way to troll dave, your stupid cuck is the one who got him involved with this toxic toilet juice of a stream
Edit: I can’t type

 

[actually]

Jesus the hate salt is something, he acts like Jim went out of his way to troll dave, your stupid cuck is the one who got him involved with this toxic toilet juice of a stream
Edit: I can’t type

Looks like Phil continued (courtesy of Proxy_kon on Twitter):

https://streamable.com/w00a6

Apparently Jim is toxic, a nasty negative jerk, and a dickhead. But not Phil. Noooo sir.

 

[WeeblesWobble]

Looks like Phil continued (courtesy of Proxy_kon on Twitter):

https://streamable.com/w00a6

Apparently Jim is toxic, a nasty negative jerk, and a dickhead. But not Phil. Noooo sir.

yeah give it to someone who will enjoy the sub, like Nightbot.

 

[FallGout]

Looks like Phil continued (courtesy of Proxy_kon on Twitter):

https://streamable.com/w00a6

Apparently Jim is toxic, a nasty negative jerk, and a dickhead. But not Phil. Noooo sir.

Funny how Phil went right to insulting Jim and said "instead of just laughing about it" which is exactly what he did. I kinda bet Phil is jealous of that $13,500 a month me makes off Patreon + whatever else his YT channel brings in.

 

[SleepyNibba]

Funny how Phil went right to insulting Jim and said "instead of just laughing about it" which is exactly what he did. I kinda bet Phil is jealous of that $13,500 a month me makes off Patreon + whatever else his YT channel brings in.

Jim claims he doesnt monetize his videos.
Not sure if hes telling the truth.

 

[FalsePositivity]

I’ve never seen someone pat themselves on the back so many times for doing better the second time they play a game they had beaten previously. Like why would this surprise anybody? Fucking moron.

 

[WeeblesWobble]

I love that it took his channel going down for him to realize that posting 3 million 4 minute videos was stupid. Now he can upload hour long video and act like it's some achievement.