[16-Jan-2020] DarksydePhil is filing for bankruptcy (general thread) - and has officially done so on January 31 2020, meaning a lot of his finances have become public

What will happen with his case following the 341 meeting?

  • Still gets Chapter 7

    Votes: 126 18.1%
  • Changed to Chapter 13 and ultimately fails to make his required payments

    Votes: 218 31.3%
  • Chapter 13 and successfully completed all payments

    Votes: 19 2.7%
  • Complete dismissal of the bankruptcy

    Votes: 334 47.9%

  • Total voters
    697
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Do you think he got the stop paying for the CT Condo from Kat? It seems like a Phil move, but he didn't do it until they were married.
 
He can do any of the three, I don't think 11 is a good one for him personally. It could turn into a 6, 7, 10, 100 year payment plan if the creditors vote to do so.

He said during the stream when speaking of the bankruptcy that he could end up on a payment plan for the rest of his life, so in his discussions with the bankruptcy lawyer Chapter 11 is still on the table and despit having been working with the bankruptcy lawyer for 3 months they have no specific plans which one to file for.

At this point the bankruptcy lawyer seems to just be around to tell Phil how to stop fucking up, rather than having anything to do with bankruptcy precedings so far. Phil seems to have extremely limited understanding of what the bankruptcy process will entail for someone who's been working with a bankruptcy lawyer for 3+ months.
 
Do you think he got the stop paying for the CT Condo from Kat? It seems like a Phil move, but he didn't do it until they were married.
I think so. Kathy is probably thinking about staying in that nice Renton khando as long as she can, and then boot Phil to the curb for her next victim, if she hasn't already.

The scariest part about this whole situation is that I don't think DSP is lying to us: I genuinely think DSP believes everything he said today is true. I don't think he's even trying to manipulate us anymore.
I think Phil is so far gone mentally that he's been delusional for years and isn't manipulating us. For example, I think he seriously believes that trolls ruined his career.
 
So all the “my house can’t be taken because I run my business out of it” nonsense is bullshit right? He doesn’t need that stupid fucking house to play vidya.
Absolute nonsense. He thinks if he uses it for work it is completely protected. It's only protected up to a dollar value, in particular $10,000. He doesn't have more than about $1,000 in stuff he uses for work. He cannot exempt his condo because part of it is used for work.
 
For example, I think he seriously believes that trolls ruined his career.

I'm 100% sure of that even without the delusions, simply because DSP is a man that can't take any personal responsibility for his own actions.

It's like people that demand you give them something for free and then when you say no they call you the selfish one.
 
The scariest part about this whole situation is that I don't think DSP is lying to us: I genuinely think DSP believes everything he said today is true. I don't think he's even trying to manipulate us anymore.
I think Phil has been thoroughly mindfucked like my japanese doujins and no longer has shame about telling us how fucked his life is. He knows some of his bigger whales don't give a fuck about drama and so he can be somewhat honest about his shitty business decisions.
 
Why can't he just sell the WA condo, pay off the foreclosure and use rest of money to move somewhere cheap? Is bankruptcy seriously a better option?

also, What if Kat is playing 4d chess here. Convinces him to file bankruptcy so she can get some sort of settlement later on.

There is a clip of him explaining why he can’t do this in the most autistic way possible. He thinks clearing $100,000 will disrupt his “work” or some stupid shit like that.
 
Why can't he just sell the WA condo, pay off the foreclosure and use rest of money to move somewhere cheap? Is bankruptcy seriously a better option?

also, What if Kat is playing 4d chess here. Convinces him to file bankruptcy so she can get some sort of settlement later on.

There will be a clip eventually, but someone brought that up and he called the guy a fucking idiot and gave three reasons: one being that it would cost him money by interrupting his streaming schedule, one being that it wouldn't save him money since an apartment would cost the same as his condo, and the third being that his credit is so fucked that nobody will rent to him.
 
Why can't he just sell the WA condo, pay off the foreclosure and use rest of money to move somewhere cheap? Is bankruptcy seriously a better option?

also, What if Kat is playing 4d chess here. Convinces him to file bankruptcy so she can get some sort of settlement later on.

He probably thinks the detractors will "win" if he moves out. Gotta hold onto it till the earth swallows them whole
 
Until I see some official paperwork I’m not believing this bankruptcy claim.
Bankruptcy will happen eventually, but I'm also reticent to believe Phil. He's too clueless and doesn't seem terrified that he's losing the WA khando. Plus, this buys Phil some time as "doing something" to fix his financial problems, anything besides getting a job.

I think it's prudent to wait for proof before like putting it on the main page for public dunking on Phil.
 
Here's the issue. He claims he's been planning this for months but... He doesn't know what kind he is filing? HOW?! It makes me think he tried and was denied and is now claiming this for pity bux from his wheelchairs.
Worse, he said that either one was perfectly acceptable and showed indifference to both
 
@SoapQueen1 and @AnOminous and anyone else who knows about legal stuff, how fucked is Dave?

Not that fucked, really. All the shit we said would come to pass. He probably gets to keep his main residence and most of his computer shit related to his actual income, as well as stuff not worth liquidating. They're not going to take things that will fuck up his ability to earn an income because at this moment, they're going to want him to be doing as financially well as a pigroach can, so he can pay them.

Also, all currently ongoing legal proceedings come to an immediate halt while the bankruptcy is worked out.

And he'll have to file extensively detailed financial information, all of which will be public and, considering it's DSP, massively embarrassing.

Even after nerfing in the past 20 years, bankruptcy is still massively OP and other than losing the CT condo, and maybe some other excessive bullshit he has, and being forced into some level of austerity, he's not going to end up homeless or anything and probably gets to keep the WAkondo.

However, he is ABSOLUTELY fucked in terms of public humiliation because there will be hilarious quantities of LOlworthy shit filed in the case and he will have a lot of new "detractor memes" to bitch and complain about, as there will be probably dozens of humiliating new facts revealed. He'll have lots of things to ban people from his chat for.

It doesn't matter which bankruptcy he goes through. He will lose that WA condo, period.

He might if he can't keep up the payments and/or his equity in it actually does exceed the limit. He may have been pigroaching on the WA mortgage too and not have as much as he should. Of course, if that's true we might see a foreclosure saga there, too. And of course, bankruptcy does not protect you against a security interest, in the long run.

Bankruptcy will happen eventually, but I'm also reticent to believe Phil. He's too clueless and doesn't seem terrified that he's losing the WA khando. Plus, this buys Phil some time as "doing something" to fix his financial problems, anything besides getting a job.

I'd believe whatever his bankruptcy lawyer said, if the guy is remotely competent, IF (a big if) DSP actually gave him an accurate picture of what his finances are. I doubt the lawyer has had the chance to examine it fully for himself.

Whatever his financial situation is will become very, very clear when he files and we'll have a lot better idea of how it will likely turn out.
 
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