[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

[Dumpster dived waifu]

I’m waiting for a mega whale to show up and bails out Phil with huge donations.

Awfully optimistic of you to assume Phil would use 100% of those donations to save himself.

 

[Kosher Dill]

At a time like this, Phil could really use friends.

I agree, he really could use someone to CHEER him up. Maybe give him some TIPS on how to handle the situation.

 

[BrokeACKMountain]

Potentially, and this is one of the common methods used in bankruptcy fraud. For instance, he could be paying a family member (Jasper?) to hide money and then after the bankruptcy is complete, that family member gives the money back to him.

If he was smart about it, he'd try to distance himself from Jasper as much as po....

Nevermind.

 

[Comma]

Oh wow. I just thought about the next possible story arc if the bankruptcy is turned down by the judge or something.

He's going to blame his lawyer.

 

[DarkSydeDefender]

I’m waiting for a mega whale to show up and bails out Phil with huge donations.

Hope so. Mr. Burnell (with two L's not like that idiot asshole detractor sociopath Burnel who's ruining my client's life) said he mailed me a check a few weeks ago. Haven't seen anything yet (though I have received one payment, but he accidentally used a period instead of a comma. Sucks but it is what it is, right? Must've been his depression causing him to lose focus cause he's always been an upfront, honest and positive person).

Hopefully someone sends him a few grand if he streams tonight, maybe he could overnight me another check cause my case load has been drying up and my funds are getting a little tight.

 

[ThankYou45]

If he was smart about it, he'd try to distance himself from Jasper as much as po....

Nevermind.

View attachment 1127069

What pigsplaining would be behind this even?

Just why would you lie about this sort of thing?

Just gonna put the blame on Kat because she has the priority whenever it comes to spending time w/ Jasper which means she owns him?

Because even if so, that's not how it works since he's married

 

[Frogga]

If DSP did request and receive approval of a payment plan installment agreement for the back taxes, $500/month would be a reasonable payment amount depending on the amount owed and number of months for the plan.

However, there are some key points to remember for those with installment agreements:

• The monthly amount has to be big enough to gradually pay down the tax debt and not just pay off the interest/penalties assessed each month. And,
• Not making payments can result in default, which would require one to request reinstatement of the plan along with payment of a reinstatement fee. Otherwise, 30 days after termination of the plan, collection activities on the outstanding balance can resume.

Source / Archive

He did list $15,000 in 2018 Back Taxes as a priority unsecured claim earlier in the filing. If he owed $17,161 back in April 2019, but still owes $15,000 in January 2020 while supposedly paying $500/mo towards it, he certainly must have missed some payments. That or his numbers are out of whack like the rest of his filing.

 

[TankMelee]

Oh wow. I just thought about the next possible story arc if the bankruptcy is turned down by the judge or something.
He's going to blame his lawyer.

Even if he successfully enters Chapter 7, he will still blame his lawyer for how restricting the confines are. "It turns out the courts took a lot more than they should have because my application wasn't filled out correctly. The lawyer I hired, apparently, is part of what people call a 'bankruptcy mill.' So for those who don't know..."
Nobody gets away from DSP unscathed.

 

[tzgnilki]

He did list $15,000 in 2018 Back Taxes as a priority unsecured claim earlier in the filing. If he owed $17,161 back in April 2019, but still owes $15,000 in January 2020 while supposedly paying $500/mo towards it, he certainly must have missed some payments. That or his numbers are out of whack like the rest of his filing.

View attachment 1127089

on the other side of the coin

if he was regularly paying $500/month, that tax bill could've been $20,000+

 

[Schrödinger's Kat]

Audit Report

they rely substantially on complaints, or tips from the public - usually an ex-spouse or ex-business partner - to report instances of bankruptcy fraud.

"Tips... I needed them... pretty badly."

But as mentioned before please don't spam the trustee with complaints about Dave. From what we can tell, he's already dug his own grave.

 

[Dumpster dived waifu]

Even if he successfully enters Chapter 7, he will still blame his lawyer for how restricting the confines are. "It turns out the courts took a lot more than they should have because my application wasn't filled out correctly. The lawyer I hired, apparently, is part of what people call a 'bankruptcy mill.' So for those who don't know..."
Nobody gets away from DSP unscathed.

I know a couple of lawyers, I would not suggest slandering them.

 

[DarkSydeDefender]

Even if he successfully enters Chapter 7, he will still blame his lawyer for how restricting the confines are. "It turns out the courts took a lot more than they should have because my application wasn't filled out correctly. The lawyer I hired, apparently, is part of what people call a 'bankruptcy mill.' So for those who don't know..."
Nobody gets away from DSP unscathed.

Edit: Taken out of khantext

 

[Schrödinger's Kat]

Seemed like he was in a rush to get through everything

Seems that way doesn't it. He filed on January 31. If he had filed on February 1, that huge $9086 July expenses would have dropped off the previous 6 months income/expense sheet, making his net income much higher.

 

[FamicomGorby]

I'm not completely familiar with how some peer to peer lending sites work but from the ones I have looked at you had to sorta pitch your business/reason why you needed a loan. So that begs the question, who the hell invested in DSP?

 

[James Smith]

Could his $5000 business expenses perhaps include wages paid (by the business) to an employee?

Yes, but then his personal income would not subtract that $5,000.

 

[DarkSydeDefender]

Seems that way doesn't it. He filed on January 31. If he had filed on February 1, that huge $9086 July expenses would have dropped off the previous 6 months income/expense sheet, making his net income much higher.

Not sure where you're going with this but there's zero evidence confirming anything suspicious going on with my client.

 

[James Smith]

If DSP did request and receive approval of a payment plan installment agreement for the back taxes, $500/month would be a reasonable payment amount depending on the amount owed and number of months for the plan.

He did list $15,000 in 2018 Back Taxes as a priority unsecured claim earlier in the filing.

A 72-month installment agreement at $500 per month would have been $36K which is pretty much exactly what he would have owed the IRS in 2018.

I have no idea how he only has $15K of that left after less than a year.

 

[Prince Lotor]

Here's a couple of things I had questions on:
What is this part where he indicates liens on both properties? Is it from the same source?

Is Midland Mortgage associated with MidFirst bank? Or was that the original loan holder? Who is First Mortgage? Or what does that indicate?

Is Phil claiming no 'Other Property' mortgage payments or HOA fees? So he knows he doesn't have ownership of the CT condo?

Is Phil claiming he has made $0 so far this year?

Why does Phil refuse to list Kathy's occupation and refuse to list the length of time she has been employed there?

 

[King Daddy Telomerase]

"It's very possible my filing is not perfect."

A bunch of fucking dumb kids are finding these discrepancies.

 

[actually]

@Prince Lotor, regarding "First Mortgage", I'm assuming he means that it's the first mortgage on the condo. The same thing is listed for the WAKhando. For the "Other Property", I'm not looking at the doc, but I believe that refers to anything other than the properties he already listed. For the income, who the fuck knows. Even if he filled it out on January 2nd before his Patreon or Twitch payments, he would have had tips.

For the blank spaces on Kat, just assume he's a lazy fuckup.