[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

[Collections Agent]

Phil losing his home and being forced to live outside a gated community is gonna be interesting

 

[I can't imagine]

At the risk of power levelling, but when I had an IRS payment plan for back taxes about 6 years ago the terms clearly stated you must pay all taxes when due. If you don't then the plan was cancelled and "enforcement" would commence.

Fortunately I paid on time each year (through withholding) so I never found out what enforcement entails.

Unless something changes Phil just might learn...

Enforcement, in this case, would be things like seizure of assets or garnishment of wages. In other words...not good. IRS will get what they want, if at all possible.

 

[King Daddy Telomerase]

Out of all the mistakes on his "initial filing" what mistake is the worst? How about where he said he's not getting foreclosed on but is?

Eventually, it may be including Katherine's proof of income on this farce. She now has proof that Phil is a lying scumbag to the courts, that he was willing to throw her part-time, poverty, just trying to better herself earnings to selfishly save himself.

Get your half of those khantributions, Katherine.

 

[Rōjin]

that 200 dollar in jewelry must be his gold chain hes nvr had

That his and Kats wedding ring!

 

[eggsandwich]

Eventually, it may be including Katherine's proof of income on this farce. She now has proof that Phil is a lying scumbag to the courts, that he was willing to throw her part-time, poverty, just trying to better herself earnings to selfishly save himself.

Get your half of those khantributions, Katherine.

Poor Kath. I wonder if she knew what she was married into. She probably thought this pig had this property worth of 400k+....so why not? Now, she's working for almost minimum wage job and this pig is bankrupted.

I wonder if she'd get anything if she file for divorce. Anyway, good for Leanna for GTFO of this madness before it's too late.

 

[myone]

I'm wondering how the IRS is going to react to a debtor who has been telling them he has $520 of business expenses each month when they see he's telling the bankruptcy court he has ten times that.

Or the other way around: I think his creditors are going to be very interested in why he's paying so much income tax to the IRS for 2018 while simultaneously claiming that he only earned 78k. Aren't they going to ask for his tax filings for 2019, where he claims a gross income of $56k?

 

[King Daddy Telomerase]

Phil losing his home and being forced to live outside a gated community is gonna be interesting

A return to traumatic experiences and a living arrangement he can't possibly stream at.

 

[actually]

So if he obviously can't meet a payment plan because paying the IRS is inconsistent with it, that plan won't be okayed.

This seems relatively likely, though we of course never know what batshit insanity will happen. But let's say he tries to get another payment plan and is rejected by the IRS. I'm assuming he's still on the payment plan for the 2018 federal taxes. Will the IRS just try and get their money from the bankruptcy court, or will they pursue some other means of getting the money, like a garnishment on any future wages or something like that?

 

[WeeblesWobble]

After combing through his forms again, this man is insane. Beyond saying he has no electronics, no trademarks, no business, and no pets, this dude seriously put on the forms that he has negative gross income per month. Marked that none of his property has been foreclosed on. He seems to have put net income in places where it asks for gross income.

In his stream yesterday, he was talking about how he did everything right and it's on his lawyer to get the info right when it literally says that by signing he read the form and it's all factual to his knowledge. Good god, I really hope that meeting gets recorded and someone can get their hands on it.

Edit: Oh, also he says that he does not have cable, or internet, or a cell phone plan. lol

 

[Kheapathic]

Unless something changes Phil just might learn...

In the words of Justin Wong; "You gonna learn today!"

 

[King Daddy Telomerase]

That his and Kats wedding ring!

Don't forget Phil's wedding band, also. Like he did.

 

[BrunoMattei]

A return to traumatic experiences and a living arrangement he can't possibly stream at.

Phil probably has a George Castanza moment every now and then and thinks of the "perfect" comeback to that neighbor.

"Yeah? Well the jerk store called and they're running out of you!"

 

[Nypical Haterade Comment]

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

It’s the Seattle air! Obviously he needs to stay in Washington because if he doesn’t his back will become hurt again! He needs to constantly be breathing in Washington air or else he will be crippled!

 

[Prince Lotor]

I think I had to listen to Phil say this about 5 times through different sources before it sank in because it's so flamboyantly dumb, and I think I tune Phil's voice out a bit.

8:06 "I gave 100% ackurate information to the bankruptcy attorney. They filled out the paperwork. They sat me down and asked me more questions, and I answered the questions, aaannd. . .the paperwork was finished and filed."
9:09 "I can tell you that in Accounting things are not 100%. .uhhh. .black & white."
9:16 "So 'Yes', my attorney is well aware that I have a cat. 'Yes' my attorney is well aware that I-we spend money on said cat every month, but maybe the attorney didn't necessarily fill out that one section saying that I have a cat. .ummm. .I don't know! Okaaay? I literally don't know. .uhhh. .how it works on that document. Uhhh, I have nothing to do with it! I didn't file it, uhuh huh, I didn't fill it out! All I did was give information and the document got filed. Okay?"

Phil did not fill out any part of his bankruptcy filing whatsoever and he did not read over, or even look at, any of the filing before signing it! We know what Phil's bankruptcy filing says more than he does, because he knows zero of what's on it.
He waddled into the lawyers office, he pulled his folder of Serious Adult Papers out of his Pokémon backpack, his lawyer strapped him into a high-chair and gave him some Cheerios while she did his homework, then she asked him a couple of questions she thought he could answer like 'How much does your food cost?'

 

[PutridElephant]

I'm personally filing for bankruptcy, not my company. The business is a success.
- Phil Burnell today's prestream

Bankruptcy filing says he owns no business. State filings show he runs a sole proprietorship. Still calling everyone morons for not understanding that he is not his business.

 

[WeeblesWobble]

I'm personally filing for bankruptcy, not my company. The business is a success.
- Phil Burnell today's prestream

Bankruptcy filing says he owns no business. State filings show he runs a sole proprietorship. Still calling everyone morons for not understanding that he is not his business.

Not exactly. He marked numerous times that he does not own a business or sole proprietorship but then it says that is his income comes from personal business, and he lists Burnell Productions as the name of his business. His job is listed as "Content Creator"

 

[actually]

I'm personally filing for bankruptcy, not my company. The business is a success.
- Phil Burnell today's prestream

Bankruptcy filing says he owns no business. State filings show he runs a sole proprietorship. Still calling everyone morons for not understanding that he is not his business.

This is the best since a sole proprietorship means that he and his "business" are one and the same. He has failed and his "business" has failed.

https://www.entrepreneur.com/encyclopedia/sole-proprietorship

"The fictitious name is simply a trade name--it does not create a legal entity separate from the sole proprietor owner."

 

[James Smith]

I would wholeheartedly agree his business is a success. His personal spending was and probably is just out of control. If someone else owned his business and he was just an employee the business would look very healthy because he couldn't take all of its money.

 

[BallBuster]

After combing through his forms again, this man is insane. Beyond saying he has no electronics, no trademarks, no business, and no pets, this dude seriously put on the forms that he has negative gross income per month. Marked that none of his property has been foreclosed on. He seems to have put net income in places where it asks for gross income.

In his stream yesterday, he was talking about how he did everything right and it's on his lawyer to get the info right when it literally says that by signing he read the form and it's all factual to his knowledge. Good god, I really hope that meeting gets recorded and someone can get their hands on it.

Edit: Oh, also he says that he does not have cable, or internet, or a cell phone plan. lol

But he marked down $160 for his monthly cell phone bill.

 

[Martys_not_smarty]

After combing through his forms again, this man is insane. Beyond saying he has no electronics, no trademarks, no business, and no pets, this dude seriously put on the forms that he has negative gross income per month. Marked that none of his property has been foreclosed on. He seems to have put net income in places where it asks for gross income.

At this point my guess is he's going to pull something at the trial, you know the whole "I didn't put it on the form to protect my stable" defense and then think it's okay to just verbally correct what's missing while there.