[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

[Prince Lotor]

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

He said today during pre-stream: If his bankruptcy goes through without a hitch he still has no idea how he's going to pay his 2019 taxes and he still will owe like $14K to $15K of his 2018 taxes. Even if this goes according to Phil's wildest delusional fantasies he will still owe $223K on Wakando, $14K on Toyota Corolla, $15K backtaxes, and have a looming Federal tax due date. . .at which point I'm assuming he would be close to getting audited by the IRS.

 

[actually]

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

He moved to Washington for two reasons. Primarily, he thought he wouldn't have to pay a state tax. And it's true there's not an income tax, but because they know they need some tax revenue, they have a B&O tax.

Now, you might wonder why he didn't move to Texas, where there is a similar tax situation, but also a much cheaper standard of living, generally better internet (especially around Austin), and a shitload of music and food and other culture.

Because he's a pussy who thought he would melt in the heat.

 

[Dumpster dived waifu]

Because he's a pussy who thought he would melt in the heat.

Texas is a dry heat. It's survivable if you get out of the sun and have AC.

Texas would also have been cheaper thanks to the housing market crash. Houses were selling for dirt cheap, that's how a lot of people over at RoosterTeeth were able to afford it.

 

[Prince Lotor]

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.

He has to live in a commercial center hub because he is deathly terrified of driving on a highway to the point he absolutely refuses to do so. He took a cab from the airport when he went to visit his parents last year rather than picking up a rental car at the airport, he took a cab to a rental car place nearer to his parents. He also refuses to ever wear his legally required glasses when driving.

 

[actually]

Texas is a dry heat. It's survivable if you get out of the sun and have AC.

Texas would also have been cheaper thanks to the housing market crash. Houses were selling for dirt cheap, that's how a lot of people over at RoosterTeeth were able to afford it.

Oh, I lived in Texas, south of Austin, for roughly...4 years or so. It's hot, but it's really not that bad. And as you noted, the housing prices were better. He could easily have afforded an actual and larger house with some land for probably less than what he paid for that middle unit condo.

 

[A Cardboard Box]

ohhh makes sense i wasnt considering store cards.

14 credit cards isn't really that impressive. It's the debt that's impressive.

I have a costco credit card, an amazon credit card, an AmEx travel card, a carecredit card, a CapitalOne quicksilver, and a Discover rewards card, and I'm not old enough to give a shit about all the retail cards that are offered. The main difference is that I keep a running balance of $0.00 on all but one of those cards. Multiple credit cards are great for using each one for specific purposes to get the maximum bang for your buck in regards to rewards, however credit card companies know for every responsible user who games the system to get like 6% back on fucking everything, there's a Phil that WILL max out every line of credit he can get.

This eventually backfires when the Phils of the world file for bankruptcy.

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?

It's extremely expensive. If he eats out actually within Seattle city limits especially. Seattle had a sugary beverage tax. It's something absurd like $0.04/oz. People are paying over a dollar a can of soda even at big box stores.

 

[Dumpster dived waifu]

14 credit cards isn't really that impressive. It's the debt that's impressive.

I have a costco credit card, an amazon credit card, an AmEx travel card, a carecredit card, a CapitalOne quicksilver, and a Discover rewards card, and I'm not old enough to give a shit about all the retail cards that are offered. The main difference is that I keep a running balance of $0.00 on all but one of those cards. Multiple credit cards are great for using each one for specific purposes to get the maximum bang for your buck in regards to rewards, however credit card companies know for every responsible user who games the system to get like 6% back on fucking everything, there's a Phil that WILL max out every like of credit he can get.

This eventually backfires when the Phils of the world file for bankruptcy.

Can it be considered a backfire when the Phils that need a bankruptcy shoot it in the foot with a 12-gauge?

 

[Ruthless54]

Being sick aside. He sounded defeted today, he has his excuses ready and there is no way he will not be forced to sell his home. He's not going to be able to afford a thorough cleaning, much less any repairs that I'm sure are present.

I can't even entertain the idea that any judge, regardless of how liberal, will allow some entitled mommas boy with no children to keep that mansion after years of reckless unchecked credit card abuse. He almost sounds confident that he can convince someone that his ability to earn is tied to that home.

 

[WeeblesWobble]

Being sick aside. He sounded defeted today, he has his excuses ready and there is no way he will not be forced to sell his home. He's not going to be able to afford a thorough cleaning, much less any repairs that I'm sure are present.

I can't even entertain the idea that any judge, regardless of how liberal, will allow some entitled mommas boy with no children to keep that mansion after years of reckless unchecked credit card abuse. He almost sounds confident that he can convince someone that his ability to earn is tied to that home.

Honestly, it's the best thing they could do for him. It would clear most of his debt outright and he would be forced to live more realistically.

 

[tzgnilki]

Honestly, it's the best thing they could do for him. It would clear most of his debt outright and he would be forced to live more realistically.

he could be debt free in 5 years if he sells his house and starts making small payments

he doesn't need bankruptcy, this entire meme is the easy way out for him

 

[Maldron the Assassin]

I knew he spent all day yesterday reading this thread. My only question was if he was still confident in his ruse or if he'd start shitting himself. After listening to the prestream: he sounds scared, trying to reassure himself.

 

[Xenomorph]

I hope his lawyer sues him.

 

[Ruthless54]

Honestly, it's the best thing they could do for him. It would clear most of his debt outright and he would be forced to live more realistically.

Exactly... a judge will see that this is a man who apparently accumulated 130k+ in unsecured debt to "save" his video game playing buisness.... the equity in that home is the only chance anyone is going to get a dime ... phil actually thinks he's going to walk out of that court house being trusted with a payment plan funded by his video game "buisness" that he sunk over 130k in the past years... LOLOLOLOL!!

 

[LightTailFoal]

He talks about a number of financial things in his pre-stream.

At 4:07 he says "Things would blow up in my face for another stupid reason. Oh my god, you weren't filing your taxes properly for several years because your tax attorney from Connecticut was an asshole."

Either he had federal tax issues or he was foolish enough to have a CT attorney doing his WA taxes, or both.

[I edited this to remove the link after I just noticed this community tends to use the alternative stream feed.]

 

[architect]

I can't wait for the judge to do a lean-in gavel smash and reject this retarded bankruptcy application.

 

[actually]

He talks about a number of financial things in his pre-stream video.

At 4:07 he says "Things would blow up in my face for another stupid reason. Oh my god, you weren't filing your taxes properly for several years because your tax attorney from Connecticut was an asshole."

Either he had federal tax issues or he was foolish enough to have a CT attorney doing his WA taxes, or both.

DSP read that there were no income taxes in WA. He didn't pay attention to the B&O tax. And he thinks the CT attorney should have known about the WA state taxes. So it's not Phil's fault he didn't do proper research, you see. It's the guy from CT who was doing Phil's taxes apparently as a favor to Phil's dad.

 

[Gotta Groom Em All]

I can't stop laughing at my mental image of DSP trying to lean in on the creditors in the courtroom.

"Oh, look. Another complete idiot. You know what..." leans into his lawyers briefcase "... Oh look at this! Just listen to this, you guys. Listen. The judge is now trying to say: hurr durr Phil you made six figures for over a decade and still didn't pay off your debts, there must have been somewhere that your money went. Well guess what. WRONG. The truth of the matter is that it's Tevins fault and there was nothing I could do. So enjoy your ban, thanks for the hearing, idiot. Ack ack ack. snake laugh what a complete idiot, seriously you guys. See this is what these people do, they make shit up and they slander me constantly. And the truth of the matter is that none of it's true, and these stupid trolls have nothing positive in their lives and they have to slander me constantly ride my coat tails to make money. And I could sue them for all of it, if I wahnted, but that's not the kind of guy I am. I'm a pahsitive guy who makes pahsitive kahntent. So the truth of the matter is there's nothing I can do about it except be a pahsitive guy with a pahsitive stream. That will conclude my opening statement, your hahnor."

 

[LightTailFoal]

DSP read that there were no income taxes in WA. He didn't pay attention to the B&O tax. And he thinks the CT attorney should have known about the WA state taxes. So it's not Phil's fault he didn't do proper research, you see. It's the guy from CT who was doing Phil's taxes apparently as a favor to Phil's dad.

Okay, that's making more sense to me now. Still, saying about $5,000-$10,000 in B&O taxes is the reason everything went to hell is not a good excuse. Could be more to things even beyond his undisciplined spending habits. Or it could just be the undisciplined spending habits.

 

[actually]

Okay, that's making more sense to me now. Still, saying about $5,000-$10,000 in B&O taxes is the reason everything went to hell is not a good excuse. Could be more to things even beyond his undisciplined spending habits. Or it could just be the undisciplined spending habits.

Somewhere in there his whole debt kiting strategy fell apart too, and his debt payments went way up. That's when he started trying to do refinances.

 

[Frogga]

Okay, that's making more sense to me now. Still, saying about $5,000-$10,000 in B&O taxes is the reason everything went to hell is not a good excuse. Could be more to things even beyond his undisciplined spending habits. Or it could just be the undisciplined spending habits.

He confirmed last week that he spent over $10,000 just on the movers to move from Connecticut to Washington, paid on credit of course. Same with furnishings. He's likely still paying for the move and furniture he bought from over 5 years ago with ridiculous interest rates. Yet he says he didn't have a "spending addiction".

Source: PUBG "Chill Stream" Jan. 22, 2020 pt2 (timecode: 43:43)