[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

[Titanic]

Only 499,893 left to pay off his 500k debt. That's awesome stuff I am getting that positive vibe that I used to have back in 2017.

 

[A Cardboard Box]

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)

401(k)s are sponsored by an employer. He can't have one. In this case he would need an Individual Retirement Account or IRA. Preferably a Roth IRA so he doesn't have to pay taxes when he retires.

 

[dsflfdsl23012]

Dude just doesn't give a fuck, at all. All he cares about is keeping his house and not having to pay anything back. He thinks this will all blow over, he'll keep making 6 figures every year without having to pay anything, and then he's just gotta push the next 7 years until he can start getting credit cards and shit again and he'll be set for life. He literally thinks it's going to play out like this.

 

[kamekmagik]

The fact that we have actual numbers makes his bankruptcy talk today so much more pathetic then its been in the past

I was trying to catch up! I saw a silver lining then I got fucked over! It doesn't matter how much I make, I'm in debt! I was fucked over by my tax guy and trolls

You overpayed for a condo which is not the end of the world, you're making good money. Then you used 14 credit cards to move across the country without doing anything about your overpriced condo because you wanted to be a "mature adult", and move across the country (despite not leaving the house). Now you're half a million in debt.


Like this is all his fault, his crying on stream is way more pathetic

 

[WeeblesWobble]

Let's say his bankruptcy goes off in typical pigroach fashion and he skirts by on a chapter 7 somehow. 7 years has gone past. His credit has been reinvigorated. Phil is knocking on the door to 50 years old. Even if he kept the wakahndo then he surely still owes hundreds of thousands on that still. He has no retirement savings, no regular savings, no work history and no plan. 45 year old Phil hobbles onto stream and continues to beg for money after telling the 50 people in his chat that he finally made it out of bankruptcy. Phil...wins?? lol

 

[murdered meat bag]

Let's say his bankruptcy goes off in typical pigroach fashion and he skirts by on a chapter 7 somehow. 7 years has gone past. His credit has been reinvigorated. Phil is knocking on the door to 50 years old. Even if he kept the wakahndo then he surely still owes hundreds of thousands on that still. He has no retirement savings, no regular savings, no work history and no plan. 45 year old Phil hobbles onto stream and continues to beg for money after telling the 50 people in his chat that he finally made it out of bankruptcy. Phil...wins?? lol

worked for lowtax

 

[DZoomer]

Let's say his bankruptcy goes off in typical pigroach fashion and he skirts by on a chapter 7 somehow. 7 years has gone past. His credit has been reinvigorated. Phil is knocking on the door to 50 years old. Even if he kept the wakahndo then he surely still owes hundreds of thousands on that still. He has no retirement savings, no regular savings, no work history and no plan. 45 year old Phil hobbles onto stream and continues to beg for money after telling the 50 people in his chat that he finally made it out of bankruptcy. Phil...wins?? lol

Yeah, that's what people who complain about how Phil "can't keep getting away with this!!" don't get. Phil has lost already.

He has been losing for years now. He had everything in place to have a great life. A hot gf (don't say you wouldn't hit that), an easy job which he could have used to save up a lot of money since it didn't require him to ever leave his house, a considerable number of followers who liked him. And he absolutely squandered it, by himself.

It doesn't really matter if he manages to declare bankruptcy or not. It will still be another huge loss in his life, and he will still be a loser who is almost 40 years old and who does not have any useful skills people want in someone his age.

Let's just enjoy the show. No matter what happens, it will be fun.

 

[AnOminous]

You overpayed for a condo which is not the end of the world, you're making good money. Then you used 14 credit cards to move across the country without doing anything about your overpriced condo because you wanted to be a "mature adult", and move across the country (despite not leaving the house). Now you're half a million in debt.

Why the fuck does he even care about being in Washington? He has no friends, he has no business contacts, he has nothing.

 

[Schrödinger's Kat]

I was trying to catch up! I saw a silver lining then I got fucked over! It doesn't matter how much I make, I'm in debt! I was fucked over by my tax guy and trolls

He so full of shit its not even funny. Yeah, he spent $100,000+ moving and paying taxes, yet claims he only has $3000 in home furnishings and still owes all these back taxes. Where did the money go, Phil? And this is exactly what his creditors will ask him.

By the way, it was mentioned before that if he paid taxes with a credit card, that debt won't be dismissed. Also, if he lied about his wages in order to gain more credit cards (claimed he was making $300,000/year when we was actually making $120,000), the creditors can claim fraud and motion the court to not have that debt dismissed in bankruptcy. I'm guessing he pulled a lot of this to get this much credit.

 

[DZoomer]

Why the fuck does he even care about being in Washington? He has no friends, he has no business contacts, he has nothing.

I doubt it has anything to do with the state. I firmly believe in the usual theory that other kiwis have, which is that he sees his khando as some sort of monument to his adulthood, and that if he were to sell it it would be tantamount to him admitting that he is not a mature adult after all.

It's bizarre, yes, but it wouldn't be the first stupid thing that Phil has ever come up with. And I'd wager it won't be the last.

 

[Dumpster dived waifu]

Why the fuck does he even care about being in Washington? He has no friends, he has no business contacts, he has nothing.

But he worked his ass off to earn his house. It's not fair that a bunch of trolls and that fucker Tevin get to take that from him.

 

[KingjadVCMP]

A reminder that if Phil is to be believed (I know, unusual), he cleared a lot of old debt (from travelling to tournaments) when first making it big on YouTube a decade ago.

He's accumulated all this fresh debt in only ten years.

 

[DZoomer]

He so full of shit its not even funny. Yeah, he spent $100,000+ moving and paying taxes, yet claims he only has $3000 in home furnishings and still owes all these back taxes. Where did the money go, Phil? And this is exactly what his creditors will ask him.

That's a good point. I'm not from the US, so I wonder: how much does it cost for a couple to eat out in Seattle? Cuz if it really isn't Phil in that WWE card game and he actually doesn't have an addiction problem, then the only thing I can come up with is that he has spent all that money eating out. But even if he ate out like 20 days in a month, for five years... Would that get to the huge amount he owes in his credit cards?

 

[Army Burger]

Why the fuck does he even care about being in Washington? He has no friends, he has no business contacts, he has nothing.

something something MUH TAXES

 

[WeeblesWobble]

Why the fuck does he even care about being in Washington? He has no friends, he has no business contacts, he has nothing.

He could have easily bought a house, a HOUSE, in middle America for less and got more out of it. Hell he could have sold the condo in Washington and moved to a flyover state with acreage and enough money to clear a lot of his debt. He doesn't smoke weed, he doesn't have friends or a job he needs to be in any specific place for.

 

[PieceofShet]

H

He could have easily bought a house, a HOUSE, in middle America for less and got more out of it. Hell he could have sold the condo in Washington and moved to a flyover state with acreage and enough money to clear a lot of his debt. He doesn't smoke weed, he doesn't have friends or a job he needs to be in any specific place for.

He moved to Seattle so he can surround himself with likeminded people, go to gaming conventions, avoid paying taxes, and leanna could help him recover from theback surgery.

You guys never listen to him...

 

[dsflfdsl23012]

Yeah, that's what people who complain about how Phil "can't keep getting away with this!!" don't get. Phil has lost already.

He has been losing for years now. He had everything in place to have a great life. A hot gf (don't say you wouldn't hit that), an easy job which he could have used to save up a lot of money since it didn't require him to ever leave his house, a considerable number of followers who liked him. And he absolutely squandered it, by himself.

It doesn't really matter if he manages to declare bankruptcy or not. It will still be another huge loss in his life, and he will still be a loser who is almost 40 years old and who does not have any useful skills people want in someone his age.

Let's just enjoy the show. No matter what happens, it will be fun.

I've said it so many times over the years but if he'd stayed in Connecticut he would've been fine. For the lifestyle he wanted (being able to excessively spend while doing low effort part time work from home) he would've been great. Only things he had to change was living within his means and taking the Ls for his douchebag behavior towards friends and family. Throw some cash some people's way, eat some humble pie for awhile, but your place is paid off and you've got money in savings.

You've got your girlfriend, family and some friends. You've got your cult following you'll always have (probably would have more money and fans if he'd humbled himself as well). And you've got a stack of $ to splurge. Turn your camera on and upload whenever, maybe spend a little free time upgrading your setup, dabbling in editing and experimenting with making different videos.

But essentially he'd have the life he always wanted with a lot of freedom. Maybe no BMWs or multiple homes but he'd be debt free, able to afford to go out every night, stay up every night watching movies and mobile gaming, a decent social circle, and a very supportive fanbase that's not going anywhere.

 

[Richard Harrow]

He could have easily bought a house, a HOUSE, in middle America for less and got more out of it. Hell he could have sold the condo in Washington and moved to a flyover state with acreage and enough money to clear a lot of his debt. He doesn't smoke weed, he doesn't have friends or a job he needs to be in any specific place for.

I'm in total agreement. I lived in Kitsap County, a 45 minute ferry trip to Seattle, in a home I purchased for 179k. My health took a turn for the worst (I was exposed to nerve agent in Afghanistan) and I resigned from my job after 10 years, sold the house and moved to a big house in the midwest with 13 acres for 130k living on VA disability. Phil, who makes way more than I ever possibly could on a fixed income and considering his line of "work" (work?), had absolutely no business moving into Renton (which is a glorified extension of Seattle) and it's awful prices and property taxes.

 

[kamekmagik]

Why the fuck does he even care about being in Washington? He has no friends, he has no business contacts, he has nothing.

This is something I've asked so many times over the last two years because he, very literally, does not go outside

My best guess is that he's so obsessed with seeming like a "mature adult" (I also tie this into his Nintendo hate). And what a mature adult is supposed to do in his mind is move far away from their hometown to make it on their own.

He could've never incurred all that moving debt, stayed close to his family and friends. But big adult man is now all alone in the gout mansion

 

[Titanic]

We are definitely going to be seeing a hardcore begging season this year for sure and I am excited to watch him breakdown and beg for donations. PlanetJeff might have to step up a bunch for this one