[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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Phil is insisting this filing was the first step, and that they are going to check the discrepancies and give him a chance to amend any errors. The errors that he knows exists.

He gave 100% correct information and the attorney filled it in. He's not a bankruptcy attorney, he doesn't know.

So there is the start of the 'blame the attorney' saga.

During Phil's limited 'accountant training' he knows that things 'get swapped around', which is why the attorney said he didn't have a cat and 'took it in to somewhere else'. Phil doesn't know. He 'literally doesn't know how it works in the document'. He just gave the info. He expects a hearing in a month, so you want to file it as soon as possible and fix it after.

This shit is wild.
 
It's all our fault because of the trolls in 2015! It's all our fault, he did nothing wrong...

If only he kept making as much as he made in 2015 then none of this would have happened and it had nothing to do with opening 13 mother fucking credit cards or refusing to sell his second home. He did nothing wrong.

He also doesn't sound like he's been sick.
 
Epic stream. Darkdave's chat is epic. Even Phil's chat is epic, even his wheelchairs are shitting on him.

The most disgusting thing he's done so far is pre-load all the blame onto this lawyer. "They did everything, they did the filing, I did nothing, if there's any discrepancies there's nothing I could do." He just assured everyone that his bankruptcy isn't a big deal. This man is unstoppable.

Also 33 bans already holy dear lord
 
The troll tips are flowing in already.........he's gonna make most of his bank on Troll tips today i'm sure


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My only legal knowledge comes from watching Night Court as a kid, so forgive me if this question is stupid.

Would Kat be wise (from a purely economical perspective) to ditch Phil, or is she tied into the shitstorm no matter what she does? I'd assume that being married makes them mutually responsible for debts accrued since they got hitched, so even if she divorced him she'd still be on the hook for part of the debts or whatever needs to be paid/seized as a result of bankruptcy, but again, I'm not a lawyer, just a guy who'd find it hilarious if Phil's wife also got effectively repo'ed because of this.
 
Phil is characterizing every discrepancy on his bankruptcy filing as 'I said I don't have a pet'. All the discrepancies on his filing are just like that he says. "You're all idiots and you paid idiots for drama. It's because you're idiots!" Now blaming people making fun of him for his bankruptcy. He doesn't have any money to pay his 2019 taxes, if his bankruptcy goes perfect he will still owe more tahxes.
 
The most disgusting thing he's done so far is pre-load all the blame onto this lawyer. "They did everything, they did the filing, I did nothing, if there's any discrepancies there's nothing I could do." He just assured everyone that his bankruptcy isn't a big deal. This man is unstoppable.

Didn't he sign the filing though, so he's complicit to any fraud if it was the lawyer as he's claiming. It's up to him to tell him something is wrong.
 
He expects a hearing in a month, so you want to file it as soon as possible and fix it after.

This shit is wild.
That's exactly how you don't fill out forms as important as these. He is basically admitting that he is only doing this to slow down foreclosure proceedings. I really do hope he tells anyone moderating this that he wanted to "fill out the form and fix it later." I'm sure they will help him with how seriously he is taking this. Telling people, "I know that these federal legal forms are not correct but I plan on fixinf them later," is not a good idea.
 
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.
On the other side of the coin

if he was regularly paying $500/month, that tax bill could've been $20,000+
The thing to remember is not all of the $500/month goes towards the back tax debt. At the beginning of the installment period, most of that goes towards the interest and penalties that continue to accrue for not being paid in full by 15 Apr 2018. Only with continued on-time payments will the interest lower so that more of each payment goes towards the actual tax debt.


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.
Given the interest rate the IRS charges on amounts past due, this sounds plausible for a six-year installment agreement. Based on my rough calculations, $500/month seems to be the minimum amount needed to pay off the debt within six years. While missing any payments will set his schedule back, missing any of the initial payments could potentially put him in a situation where the $500 barely covers the interest and penalties and little to none of the principal debt.

I, too, am unsure how the debt could be down to $15k after less than a year. It's doubtful he's ever paid more than the required $500 a month. For now, the most plausible explanation is either "DSP doesn't know math" or "DSP is making numbers up in his favor" until proven otherwise. Should the bankruptcy case proceed, I don't envy the trustee who would have to sort through these figures to both determine and present the actual, verifiable numbers to the court.
 
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