[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

[ZehnBoat]

Phil just explained how the question "Do you have a pet?" is not a black and white issue.

phil taking schrodinger's cat literally

 

[the khat quaffer]

'What's hilarious is that you have a bunch of dumb fuck kids, idiots that don't know anythign about the law, going over my bankruptcy proceedings and micro-analyzing everything, and they're finding discrepancies in the documents, and they're saying, 'Wow, Phil said this part on this page, but later on, he said this thing on the other page! What he put down on the forms doesn't square with what we've seen publicly on streams! Therefore, this is a HUGE disaster, Phil is willingly perjuring himself' Utter stupidity of course.'

Everyone, say hi to Phil, since he absolutely 100% reads the Farms.

HI PHIL!

 

[Martys_not_smarty]

I've never been through bankruptcy, so for anyone familiar with the process...is this normal?

Not unless you're a scummy fuck thinking you can pull a fast one with your chad street smarts on a bunch of paid professionals who line of work is sorting through bullshit.

And to fatfuck failure Phil that's not how perjury works, it's a blanket term for anything requiring one to be truthful with legal repercussion if you don't whether it be filling out bankruptcy forms or trying to purchase a firearm.

 

[gettingthatgrooveback]

Pardon my ignorance but, how many chances does Dave have to file for bankruptcy? When the court dismisses his current claim, can he try again?

 

[LightTailFoal]

About 38:50 into today's stream:

"I would say probably around 2017, was the year when it looked I might turn things around" ... "just when it looked like things, there was a silver lining and things were gonna get better, that's when all of a sudden BOOM I found out, oh guess what Phil, you didn't do your taxes correctly for 3 years, and now you're behind on that. And that cost me a ridiculous amount of money to fix. And by the time that I fixed it, I was so much in the hole, there was just no way to come back out of it. You know, that's just the truth of the matter."

And then he goes on to claim this is the reason he is having to declare bankruptcy.

Sounds like he did not understand the 1099's and was substantially under-reporting.

 

[WeeblesWobble]

About 38:50 into today's stream:

"I would say probably around 2017, was the year when it looked I might turn things around" ... "just when it looked like things, there was a silver lining and things were gonna get better, that's when all of a sudden BOOM I found out, oh guess what Phil, you didn't do your taxes correctly for 3 years, and now you're behind on that. And that cost me a ridiculous amount of money to fix. And by the time that I fixed it, I was so much in the hole, there was just no way to come back out of it. You know, that's just the truth of the matter."

And then he goes on to claim this is the reason he is having to declare bankruptcy.

Sounds like he did not understand the 1099's and was substantially under-reporting.

So a guy who made 6 figures annually for several years owes a few thousand in back taxes and that caused him to take out 14 credits cards, 3 loans, buy a second house and spend money on frivolous shit.

 

[actually]

Sounds like he did not understand the 1099's and was substantially under-reporting.

He's referring to the state B&O taxes he didn't pay from mid 2014 to 2017. He thought that that he could be self-employed, make $100,000+, claim business deductions on his federal taxes, and not have to pay any state tax. Because there's no state income tax in Washington. There is, however, a B&O tax they collect to make up some of that. For Phil, it's 1.5% of gross income. My estimates, based mostly on his "thousands of dollars, but not more than $10,000", were that he owed around $5000 for the timeframe of 2.5 years, which worked out to about $133,333 of gross income. As we know now, that's probably close, if not underestimated.

 

[gettingthatgrooveback]

"I would say probably around 2017, was the year when it looked I might turn things around"

So the moment things are starting to look up, he immediately goes and buys a brand new car. A car that has been driven only 5000 miles since then. What a fuckin dumbass.

 

[LightTailFoal]

He's referring to the state B&O taxes he didn't pay from mid 2014 to 2017. He thought that that he could be self-employed, make $100,000+, claim business deductions on his federal taxes, and not have to pay any state tax. Because there's no state income tax in Washington. There is, however, a B&O tax they collect to make up some of that. For Phil, it's 1.5% of gross income. My estimates, based mostly on his "thousands of dollars, but not more than $10,000", were that he owed around $5000 for the timeframe of 2.5 years, which worked out to about $133,333 of gross income. As we know now, that's probably close, if not underestimated.

If I am reading this correctly, you are saying he owed about $5000 for that, and that is not anywhere near enough to cause this much trouble. Do we really know he did not have a substantial federal income tax problem?

 

[NIGGER ASS PEE POOPY RAPE]

"that's when all of a sudden BOOM I found out, oh guess what Phil, there's a new once in a lifetime virtual wrestling tournament happening this week on my phone and I need to spend another $5k to unlock the new limited edition exclusive VIP 4 gold star wrestler! and it's one of my favorite wrestlers! what was I supposed to do???"

 

[N0thingICanDo]

lol Phil just read that line on stream, as if he is practicing saying that to his lawyer and the court later

 

[actually]

If I am reading this correctly, you are saying he owed about $5000 for that, and that is not anywhere near enough to cause this much trouble. Do we really know he did not have a substantial federal income tax problem?

He had to pay an attorney to resolve the issue. Then he immediately moved Kat in and paid for all her shit. THEN he proceeded to set none of his money aside for the 2018 federal taxes.

 

[Comma]

lol Phil just read that line on stream, as if he is practicing saying that to his lawyer and the court later


View attachment 1127333

DSP's bankruptcy lawyer:

 

[Cuckoman]

He had to pay an attorney to resolve the issue. Then he immediately moved Kat in and paid for all her shit. THEN he proceeded to set none of his money aside for the 2018 federal taxes.

That is not the only thing he did not set aside money for.

I think his filing also listed his 401k as 0. That is pretty scary. He is middle aged, has been making 6 figures for quite a while and his 401k is 0.
Jesus christ.

(EDIT: I just had to double-check. Yepp he states he has no 401k account. Jesus)

 

[Noob-Noob]

'What's hilarious is that you have a bunch of dumb fuck kids, idiots that don't know anythign about the law, going over my bankruptcy proceedings and micro-analyzing everything, and they're finding discrepancies in the documents, and they're saying, 'Wow, Phil said this part on this page, but later on, he said this thing on the other page! What he put down on the forms doesn't square with what we've seen publicly on streams! Therefore, this is a HUGE disaster, Phil is willingly perjuring himself' Utter stupidity of course.'

Everyone, say hi to Phil, since he absolutely 100% reads the Farms.

HI PHIL!

Phil does not read these forums. He has said multiple times that he has minions that "check into troll activities" and report back to him.

PS: With each passing day, PrisionYardPhil becomes more and more plausible. What a timeline we exist in, gents.

 

[Schrödinger's Kat]

He just flatly stated again that these forms mean nothing. You get audited and you make corrections before you verify at the end of that process that everything on the forms is now entirely accurate. It doesn't need to be correct on first filing. We're all idiots for assuming that the current errors and omissions mean anything.

He's 100% full of shit.

Spoiler

Bankruptcy Fraud Types and Consequences - Financial Wellness

Bankruptcy fraud is a serious federal offense which carries with it the threat of hefty penalties. While many actions can fall under the umbrella of bankruptcy fraud, one example is the concealment of assets to mislead the bankruptcy court. Additionally, unintentional omissions or mistakes may...

financialwellness.org

Another form of bankruptcy fraud is intentionally filing false or incomplete forms.

Filing bankruptcy requires that you provide a complete and correct list of your assets, your debts, and your current financial status.

Bear in mind bankruptcy proceedings are filed under the penalty of perjury.

Therefore, make sure you double check all information and the completeness of your forms to avoid encountering any problems.

 

[Gotta Groom Em All]

This stream is epic. A straight gold ingot. Over a hundred bans, the depression mode, calling anyone who looked at the documents complete idiots, pre-loading all the blame onto his attorney, begging for money, fake-coughing for sympathy. Sausage mode, lean-in, repeat. Rumple getting unbanned for an 8th time and begging nonstop to be modded. Wheelchairs sending DSP and the overworked mods penne messages telling them who to ban. Sidella crying about how mean the trolls are. Even wheelchairs got banned today. Nobody is safe. What a ride.

DSP Research Institute - Banworld LIVE

Live ban recorder of DSP's twitch chat. Resets at midnight.

dsp.institute

 

[Wing Zero]

He's 100% full of shit.

Spoiler

Bankruptcy Fraud Types and Consequences - Financial Wellness

Bankruptcy fraud is a serious federal offense which carries with it the threat of hefty penalties. While many actions can fall under the umbrella of bankruptcy fraud, one example is the concealment of assets to mislead the bankruptcy court. Additionally, unintentional omissions or mistakes may...

financialwellness.org

Another form of bankruptcy fraud is intentionally filing false or incomplete forms.

Filing bankruptcy requires that you provide a complete and correct list of your assets, your debts, and your current financial status.

Bear in mind bankruptcy proceedings are filed under the penalty of perjury.

Therefore, make sure you double check all information and the completeness of your forms to avoid encountering any problems.

Knowing Phil, the lawyer probably told him that you'll be forgiven if you mess up slightly on a couple of numbers, and because Phil is Phil, mentally converted that into "half ass the forms now and worry about it later. I got mobile games to play!"

 

[Titanic]

This just goes to show that no matter how much evidence is given, paypigs will donate to an endless money pit to a near 40 year old man who has no type of skills that lives off their crumb donations. He has no friends and Kat is definitely going to divorce his ass this year for sure. 2020 is off to a pleasant start for Piggy Smalls

 

[James Smith]

Pardon my ignorance but, how many chances does Dave have to file for bankruptcy? When the court dismisses his current claim, can he try again?

Sure, in 8 years.

EDIT: Assuming they dismiss with prejudice because he lied to them and won't stop.