[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

[We Are The Witches]

He's kind of begging the judge for about $200K, if you look at it one way. Does that make the judge a potential paypig?

Not coming out of the judge's pocket and they're making money by doing their job.

 

[the khat quaffer]

Could someone make the argument that Phil was being extremely, dickishly dishonest to his paypigs by omitting for months that he was gonna declare bankruptcy? He admitted that his mom told him to consider filing in Connecticut, when he got married. He also admitted in Jan. that he's been talking to his lawyer for 'months', so....he knew for quite a while that he was just gonna throw his hooves up in the air and (attempt to) walk away from his debts, his bills.

Couldn't this be considered withholding vital info from his paypigs so as to have them keep funding his lifestyle for x amount of time until he deigns to tell everyone about the bankruptcy? Would his income have been severely affected by this information? I mean, if I was a DSPaypig, during the hours I'm not trying to commit suicide I could conceivably be quite mad at Phil for taking my money for x months without telling me he was just gonna try to discharge his debts. (Why not declare it sooner then, Phil? Why do we have to hear about it from those dang dirty trolls before you cave and spill the beans?)

It's literal certain proof that he is a monetary black hole, that no amount, absolutely no amount of money from cheers/subs/tips, could have helped this man. But he kept asking anyways.
(Disclaimer: I know his finances are worse than ever and he, quite literally, needs money now more than ever, but still. It just rubs me as dishonest, and most people still view bankruptcy as basically a get-out-of-jail-free card.)

 

[King Daddy Telomerase]

Could someone make the argument that Phil was being extremely, dickishly dishonest to his paypigs by omitting for months that he was gonna declare bankruptcy? He admitted that his mom told him to consider filing in Connecticut, when he got married. He also admitted in Jan. that he's been talking to his lawyer for 'months', so....he knew for quite a while that he was just gonna throw his hooves up in the air and (attempt to) walk away from his debts, his bills.

Phil did talk about potentially filing bankruptcy a few times after the marriage, and even going back to 2017 he said he didn't qualify, so he's been thinking about it for a long time. So, Phil has been somewhat open about the bankruptcy and foreclosure sagas... in his usual stupid ways where he'll ban you/call you a morahn 99% of the time if you bring it up, and doesn't want to admit it's our business since he begs 24/7/366.

 

[This comment matters]

Phil did talk about potentially filing bankruptcy a few times after the marriage, and even going back to 2017 he said he didn't qualify, so he's been thinking about it for a long time. So, Phil has been somewhat open about the bankruptcy and foreclosure sagas... in his usual stupid ways where he'll ban you/call you a morahn 99% of the time if you bring it up, and doesn't want to admit it's our business since he begs 24/7/366.

Nice leap year reference haha.

 

[Billericay Dickie]

 

[lol you sukc]

First thing here is we do not know if he will get a payment plan at all, He would only get a payment plan if he gets converted to a chapter 13, chapter 7 does not include a repayment plan of any kind. Right now I see there are probably 4 possible outcomes here, there might be more but I see at least these 4.

1. This current filing is accepted with some minor changes but it basically goes on through how he dreams that it will. He keeps the house and gets a chapter 7 discharge.
2. He has to amend his filing dramatically, Wakando ends up being sold, a fair amount of his property is sold but he still gets a chapter 7 discharge.
3. Filing is amended, it is found he cannot do a chapter 7 and is converted to a chapter 13 and is put on a payment plan for 3 to 5 years.
4. This case is dismissed because of all the crap he tried to pull, and his creditors eat him alive.

If he gets a chapter 7 he will have credit available to him pretty much as soon as he gets the notification of discharge. His credit score will jump several hundred points those 2 to 3 months post discharge as all his old accounts get cleaned up. As others have pointed out his mail box will be over flowing with offers to buy and finance a car. He will be able to get credit cards right away, in fairness that first year or two those cards will not be great. Some will likely be secured and have pretty bad interest rates but they will be available to him. There are guides all over about how to build back to a 700 credit score two years post chapter 7 discharge. Within two years things could be mostly back to normal and even those first two years should not be that terrible.

One interesting thing is that he has burned a couple of banks that have real long memories. He might never be able to get an AmEx ever again, best case its 5 to 10 years. Citi its hard to say best case it'll be 4 or 5 years, but given he owes them about 35k, they might be a never again also. Chase will probably be 4 to 5 years before they speak to him. Apparently Capital One doesn't care too much and some people have been approved for Capital One cards within a few months even when including them in a chapter 7. What he should have done already and should now do when he gets the discharge is to open a new bank account with a bank he did not burn in the BK, Wells Fargo or a local credit union as examples. Build a relationship with that new bank and they will give him access to some of their better cards quicker because he has a bank account with them.

If he does get converted to Chapter 13, you are correct, his credit life for the term of the repayment plan is miserable. He actually cannot get new credit without the approval of the trustee. If he makes it to the end of the payment plan and to discharge, it starts to look like the same as post chapter 7 discharge.

Even if everything goes according to plan, he will have to shell out 2500/month for the next ten years, and he'd better not miss a payment. As sad as his streams are today, just imagine him in ten years gray haired, drooping face and e-begging to Minecraft with an aging, flaccid cat lying next to him on the couch. It's not an enviable fate.

 

[Authentic Sauce]

Even if everything goes according to plan, he will have to shell out 2500/month for the next ten years, and he'd better not miss a payment. As sad as his streams are today, just imagine him in ten years gray haired, drooping face and e-begging to Minecraft with an aging, flaccid cat lying next to him on the couch. It's not an enviable fate.

Chapter 13 payment plans are only for 3 to 5 years. In terms of how much his payments are, we have no idea, that will be up to the trustee determining what they think he can afford.

 

[HansGruber]

Even if everything goes according to plan, he will have to shell out 2500/month for the next ten years, and he'd better not miss a payment. As sad as his streams are today, just imagine him in ten years gray haired, drooping face and e-begging to Minecraft with an aging, flaccid cat lying next to him on the couch. It's not an enviable fate.

I'll pay half a mil Phil $20 if he'll smash his hand in with a mallet.

 

[DZoomer]

Phil did talk about potentially filing bankruptcy a few times after the marriage, and even going back to 2017 he said he didn't qualify, so he's been thinking about it for a long time. So, Phil has been somewhat open about the bankruptcy and foreclosure sagas... in his usual stupid ways where he'll ban you/call you a morahn 99% of the time if you bring it up, and doesn't want to admit it's our business since he begs 24/7/366.

After reading this post of yours, I decided to search for "bankruptcy" in PigPigGo just to see the earliest mention I could find of him talking about it. It's this one, from 2016:

The Week In Preview: Oct. 23, 2016: SERIOUS TALK; Then Dragonball Xenoverse 2 and more

Sorry all for the serious talk in this video before I got to the week's upcoming gaming schedule, but this was pretty important. Want to save some money with...

www.youtube.com

It's basically him crying about ad revenue plummeting and saying something like "what can I do? declare bankruptcy?".

But this is not the interesting part. I just let the video play out for more time, and then it came to this part at the 14:23 mark:

The Week In Preview: Oct. 23, 2016: SERIOUS TALK; Then Dragonball Xenoverse 2 and more

Sorry all for the serious talk in this video before I got to the week's upcoming gaming schedule, but this was pretty important. Want to save some money with...

youtu.be

He says, and I quote: "So, to me, I just gotta be like... I don't know. Right? I can't... What do you blame? How do you blame anything? I don't know. So it is what it is".

I found that "What do you blame?" line very interesting. Curious choice of words, and it is a good look into Phil's psyche. Constantly searching for something external he can blame.

 

[AnOminous]

I found that "What do you blame?" line very interesting. Curious choice of words, and it is a good look into Phil's psyche. Constantly searching for something external he can blame.

"Could it be my own horrible money management?" the Pigroach asks himself. "No, it is the detractors who are to blame!"

 

[NotreallyPutin]

he is a monetary black hole

Pretty much.

He tried to have the 1950's boomer life. A 30-year mortgage, company man, wife, house pet, and a cush retirement afterward. It's the unrealistic American dream that causes a lot of people to crash and burn into a mountain of debt, like Dave here. Jobs typically don't stick around for 30 plus years anymore and fewer and fewer Americans are able to get pensions or even 401k's at their job.

To make this even worse Dave has a "millennial" type job, it's basically freelancing but in a different field. You can't apply long term debt to something like freelancing, you have to keep monthly and yearly expenses as low as possible because your income is so up in the air. You kill it one year and might starve the next. Dave isn't able to adapt, he's basically the Dodo bird in human form.

 

[Banned in 49 States]

No matter what happens with the bankruptcy, Phill's inability to learn and to grow will just lead him back into the hole he been digging for the last decade.

Chapter 7 is not gonna solve the problem of Phill. He will not look at it as a second chance and it's time to sieze that chance to its fullest by getting a hold on his life.
Instead he is probably gonna stream less, take way more vacations and when that itch to buy something dumb he can't afford he will try getting a credit card again and then slowly rack up yet another debt.

He will become even more of a lazy sausage and continue his lifestyle with more confident now that he "got away" with it.
He wont go back to school, he wont try find a part time job, try building up a nest egg for himself or the many of other things he should be doing for his 10 year plan.
Life will continue like it has been for the last 10 years and when something happen he will just flail around about how blindsided he got and he did nothing wrong.

The gout hermit of Renton will never change his ways.

 

[tzgnilki]

No matter what happens with the bankruptcy, Phill's inability to learn and to grow will just lead him back into the hole he been digging for the last decade.

Chapter 7 is not gonna solve the problem of Phill. He will not look at it as a second chance and it's time to sieze that chance to its fullest by getting a hold on his life.
Instead he is probably gonna stream less, take way more vacations and when that itch to buy something dumb he can't afford he will try getting a credit card again and then slowly rack up yet another debt.

He will become even more of a lazy sausage and continue his lifestyle with more confident now that he "got away" with it.
He wont go back to school, he wont try find a part time job, try building up a nest egg for himself or the many of other things he should be doing for his 10 year plan.
Life will continue like it has been for the last 10 years and when something happen he will just flail around about how blindsided he got and he did nothing wrong.

The gout hermit of Renton will never change his ways.

he's already talking about re-financing his WAkahndo and going on a honey moon after his bankruptcy

 

[the khat quaffer]

he's already talking about re-financing his WAkahndo and going on a honey moon after his bankruptcy

Another ginned-up session of owning the trolls on twitter complete with quinquagenerian reaction gifs.

Little do his dreams matter as 1) ch7 going the way he thinks it will is just impossible and 2) khat does not love him or what they have. The best laid plans of pigs and men...

 

[MightyBob69]

he's already talking about re-financing his WAkahndo and going on a honey moon after his bankruptcy

Phil, since you're reading this: qualifying for refinancing is a lot like qualifying for a mortgage in the first place. With your already shitty credit and your pending bankruptcy, you probably won't qualify for refinancing. You'll probably lose the house anyway since we all know you don't actually qualify for the homestead exemption and you're lying to the bankruptcy court.

 

[Providence Backing_21]

I might of missed this somewhere in this thread. Not even sure if he's even eligible for it, but did Piggy take out Heloc from Bank of America?

Edit: Thanks @twattycake I thought it would be under secured. I'll assume he didn't mess that up.

 

[UncleTusky]

I might of missed this somewhere in this thread. Not even sure if he's even eligible for it, but did Piggy take out Heloc from Bank of America?

Not unless he lied or botched the paperwork (which is a distinct possibility), home equity lines of credit are secured loans and his only debt to BoA is a $26,000 unsecured one (probably CC debt).

To answer the question of "well what about a HELOC from another bank", his only secured loans are the two mortgages + car loan and the mortgage and HELOC would be tracked separately even if they were from the same lender. His spending habits make the alternative (he took it out, paid it in full, and closed it when he no longer needed it) just plain silly.

 

[NIGGER ASS PEE POOPY RAPE]

"listen, I've got a little gig on youtube with about, you know, 400 million views *snort* how about I give your bank or law firm or whatever a nice shoutout and we let that tiny mistake that my lawyer made on my bankruptcy form slide so I can just qualify for chapter 7?"

 

[Kiwi_Bot#Ur_M0M]

This lying fraudulent cocksucker is claiming he doesn't own any electronics or collectibles.

This is actually fucking hilarious, isn't he just such an honest guy? He never does anything wrong and is always honest but somehow things just never go his way, hmmmmm...

"listen, I've got a little gig on youtube with about, you know, 400 million views *snort* how about I give your bank or law firm or whatever a nice shoutout and we let that tiny mistake that my lawyer made on my bankruptcy form slide so I can just qualify for chapter 7?"

Wow, just wow. I love that all his BS is documented in video format, easily pulled up whenever he ever tries to pass his falsehoods as truths.

What a goldmine of fuckery

 

[DiabeticSP]

Didn't he JUST fail to get a refi around December when he wss stressed about not showing 3 years of increased income or something?

Why would he think thats attainable NOW?