[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

[Comma]

Yeah he clearly doesn't understand how much work and loss goes into bankruptcy for Chapter 13 and 7 respectively.

Oh well... As long as he can keep taking out the wife to dinner from cash donations on his day off, right?

 

[King Daddy Telomerase]

Phil's "after a few months I would be back on track" comment was about his taxes, I think. For some reason, he doesn't seem to take debt seriously at all.

We can't analyze Phil's debts because we now know he spends exorbitant amounts on trash, and there's no way to track it. We know he's played many more mobile games than WWE Champions, and that he's spent at least thousands. He's admitted to lottery ticket addiction in the past. Would anyone be surprised if Phil had a gambling problem?

 

[BallBuster]

Phil's "after a few months I would be back on track" comment was about his taxes, I think. For some reason, he doesn't seem to take debt seriously at all.

We can't analyze Phil's debts because we now know he spends exorbitant amounts on trash, and there's no way to track it. We know he's played many more mobile games than WWE Champions, and that he's spent at least thousands. He's admitted to lottery ticket addiction in the past. Would anyone be surprised if Phil had a gambling problem?

Mobile games are gambling except you don’t gain anything of monetary value when you “win”. It’s basically a drug addiction.

Phil doesn’t take anything seriously until he is literally molly whopped in the face by the long dick of whatever he is trying to fuck over.

We all joke about how he is untouchable at Twitch and he even likes to stroke his peen to that, but he has been banned on more than one occasion and the sheer panic in his face, voice and shaking chair were real, because that very moment he realized he wasn’t untouchable.

He is the kind of person who could have gang green but won’t go to the hospital to hear a doctor tell him that, and in his mind if he doesn’t hear it from a credible source, it isn’t real.

So let’s sit back and wait for banks, creditors, and the IRS to serve him a heaping, steamy platter of cock meat sandwiches, because while I know there are many who aren’t as optimistic as I am that Phil is finally going to get a train ran on his gout ridden ass, official government documents say otherwise.

 

[actually]

Phil's "after a few months I would be back on track" comment was about his taxes, I think. For some reason, he doesn't seem to take debt seriously at all.

It was definitely about the foreclosure and bankruptcy. He specifically said he thought he could rebound in a year or so. The delusion is massively strong.

 

[King Daddy Telomerase]

It was definitely about the foreclosure and bankruptcy. He specifically said he thought he could rebound in a year or so. The delusion is massively strong.

Yes, but I don't think he even sees the debt as a problem. Like these debtors can and should go away letting Phil live the life he deserves.

 

[Wing Zero]

Yes, but I don't think he even sees the debt as a problem. Like these debtors can and should go away letting Phil live the life he deserves.

Well that's how he honestly thinks Bankruptcy works - it's just some magic "Problem-B-Gone" solution that will make the mean banks go away and let Phil continue to NEET his way through life the same he always has with no more troubles.

 

[actually]

Yes, but I don't think he even sees the debt as a problem. Like these debtors can and should go away letting Phil live the life he deserves.

100% agree. He seems to think he can pull a Michael Scott and then walk away.

 

[James Smith]

debtor = one with debt
creditor = one with debtors

 

[King Daddy Telomerase]

debtor = one with debt
creditor = one with debtors

Phil says the bad guys are debtors, so I go with that.

 

[Chan the Wizard]

A lot of people think bankruptcy is a get out of jail free card. It’s not. There’s a reason most financial experts will only recommend as a last resort, in dire situations, and when there are assets that can protected.
This is funny because he’s really quite fucked. Without knowing his exact debts, it’s hard to guess, but selling both condos, car, and either moving into a cheaper apartment or in with his parents, would likely let him save enough to at the very least meet his monthly minimums and probably even let him pay more off each month.
What’s going to happen instead is he’s going to declare bankruptcy, he’s still going to owe the remainder on his Kahndo, his wakahndo mortgage and he’s going to be on a repayment plan for his credit cards/loans for 5-7 years (iirc). And if he sticks to that plan, never misses a payment, etc. eventually the court will discharge the remainder. During that time his credit score is shot. And he better hope he has a stable income that entire time (lol good luck with that middle aged streamer) and doesn’t have any medical or other emergency (like a house fire). Because all of it hinges on you sticking to the payment plan. I’m pretty sure they make you take a financial planning class before they even let you file for bankruptcy now.

 

[James Smith]

Phil says the bad guys are debtors, so I go with that.

Yeah and DSP is borderline retarded, so that's a shitty reason to keep confusing everyone in the thread. Debtors are the people who owe money, creditors are the people it is owed to.

 

[tzgnilki]

I've been doing some reading on Ch 13 bankruptcy (which if I had to guess is what he'd go for) and there's some interesting tidbits. Like others have said he just needs to have <$400Kish unsecured debt to qualify which I think he does.

Firstly it says that he must collect income/debts/creditors/expenses info from his spouse even if he is filing solo. I bet Kat is thrilled with that. After filing there is a meeting with everyone and the debtor (Phil) MUST attend it and answer questions to his creditors under oath. I am already giggling thinking about the kind of shit he would say (I NEEDED that gin, nothing I could do! What do you mean mobile games isn't a business expense, its my JOB dude!) plus the fact that I could see him lying under oath tbh. Finally it basically says all disposable income he gets needs to be paid to the trustee and he gets the bare minimum to live on.

In chapter 13, "disposable income" is income (other than child support payments received by the debtor) less amounts reasonably necessary for the maintenance or support of the debtor or dependents and less charitable contributions up to 15% of the debtor's gross income. If the debtor operates a business, the definition of disposable income excludes those amounts which are necessary for ordinary operating expenses. 11 U.S.C. § 1325(b)(2)(A) and (B).

Obviously this means no more eating out (say hi to mashed potatoes for 5 years Phil!), no more mall shopping, no more gin, no more mobile games, no more impulse buys, otherwise the plan gets cancelled and he either goes to Ch 7 or the creditors just go directly after him. Personally I don't think he would last, and I think we would definitely see the effects of all this on his psyche during his streams. I also find it mind blowing that he made a comment something like "after a few months I would be back on track" or whatever (think it was earlier in this thread somewhere), it seems like he gets the bare minimum until he pays off his plan which can be up to 5 years.

Source

for chapter 13 he needs a stable income, which he doesn't have

for chapter 7 he needs to be earning less than the average wage for the state, he nearly doubles it

but we will find out soon

 

[ZehnBoat]

Phil says the bad guys are debtors, so I go with that.

phil also thinks everyone loves him now that he kicked projared while he was down
but hey, why let reality get in the way of gin brain

 

[Freshtodeath]

Drgnkiller on twitter is saying DSP is 600k in debt. That is insane. He needs 600k to break even.

 

[Stationary aszs]

Drgnkiller on twitter is saying DSP is 600k in debt. That is insane. He needs 600k to break even.

@drgnkiller source?

Edit: There was a tweet intimating Phil said 600k might pay off his debt, is that what you were quoting drgnkiller on? That’s a little different than what you wrote

 

[drgnkiller]

@drgnkiller source?

Edit: There was a tweet intimating Phil said 600k might pay off his debt, is that what you were quoting drgnkiller on? That’s a little different than what you wrote

Yeah the tweet was just him saying that much money might be enough, but he had to think about it before saying it would be.

 

[DiabeticSP]

To Phil, bankruptcy and foreclosure are as good as a debt consolidation plan/refi. Both of which he didn't get, but not because it's his fault.

This isn't his fault either. He doesn't want to pay that money anyways. So fuck it, if he has to pay let someone else do the work? Selling the condo? Not my problem dude. Affording his credit card debt without a e7 showing up? Not my problem dude. Sorting out his finances? Let the bank handle all that busywork.

Phil is entirely happy to pay X amount of dollars a month to one bank instead of 9 if it means he can write a check or put it on a card. Its just like a bill, you nudniks.

Phil doesn't care about any other facet of all this besides "I can pay one bill each month and some booksmart idiot handles all the paperwork for me".

 

[JohnnyBoi]

With this bankruptcy looming and the possibility of a trustee handling his money. Would the ebegging come to a sudden halt of would he ramp it up more ?

 

[King Daddy Telomerase]

With this bankruptcy looming and the possibility of a trustee handling his money. Would the ebegging come to a sudden halt of would he ramp it up more ?

I'd guess around the same e-begging overall. However, if Phil has a good month, which usually comes in summer, don't be surprised if he takes more Staycation days off since he doesn't get to use that extra money. Vice versa, if it's a slow month, he'll be begging hard to save the house.

 

[James Smith]

He filed with the court. I can get documents in a minute or someone else can.

He's counting over $5000 per month of business expenses.

Docket for Philip P Burnell, 20-10323 - CourtListener.com

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