[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

[shioq]

Just the shady 9% he subtracted for the future cost of sale puts him over the limit. I looked on Zillow and it doesn't recognize his address (17505 110th Ln), which is odd considering his filing. Zillow does show a 30-unit complex at 17583 110th Ln Se Renton, WA 98055, and even the historical values are higher than he claims: https://www.zillow.com/b/17579-110th-Ln-SE-Renton-WA/47.44665,-122.193212_ll/

9% for future cost of sale? considering the market I think he could sell his home for 6% (buyer's and seller's cost).

 

[SaidNoOneEver]

9% for future cost of sale? considering the market I think he could sell his home for 6% (buyer's and seller's cost).

Here's the quote from his bankruptcy filing regarding the value of the WA condo:


Current value of the
entire property?
$344,890.00

Value Based on Zillow
$379,000.00 less 9% cost of sale of $34,110.00


Later in the filing he claims to still owe $227,448 on the mortgage so according to that valuation he has $117,442 in equity - only $7,558 under the limit.

 

[shioq]

Here's the quote from his bankruptcy filing regarding the value of the WA condo:


Current value of the
entire property?
$344,890.00

Value Based on Zillow
$379,000.00 less 9% cost of sale of $34,110.00


Later in the filing he claims to still owe $227,448 on the mortgage so according to that valuation he has $117,442 in equity, only $7,558 under the limit.

oh wow. I hope they force him to get an appraisal.

 

[SaidNoOneEver]

oh wow. I hope they force him to get an appraisal.

It just occured to me that if this thing is delayed by even a few months and he's forced to refile it's possible that he'll exceed the $125k equity threshhold using his own cooked valuation number just with the extra mortgage payments he'll have to make in the interim. THAT would be funny.

 

[actually]

Just the shady 9% he subtracted for the future cost of sale puts him over the limit. I looked on Zillow and it doesn't recognize his address (17505 110th Ln), which is odd considering his filing. Zillow does show a 30-unit complex at 17583 110th Ln Se Renton, WA 98055, and even the historical values are higher than he claims: https://www.zillow.com/b/17579-110th-Ln-SE-Renton-WA/47.44665,-122.193212_ll/

Yeah, Zillow doesn't have his particular unit listed. Using a comparable one is fine, but those are all higher than what he listed. And all other sites are in the same ballpark. He's fudging the numbers to make them do what he wants.

 

[Iron Hamster]

Redfin has it at $168k value increase.

17505 110th Lane SE #30, Renton, WA 98055 - 3 beds/2.5 baths

(NWMLS) 3 beds, 2.5 baths, 1610 sq. ft. townhouse located at 17505 110th Lane SE #30, Renton, WA 98055 sold for $265,000 on May 22, 2014. MLS# 597864. Private, spacious and meticulously maintained town-hom...

www.redfin.com

 

[GuatamaBay]

While the general consensus on here seems to be that pigroach is at least mostly fucked and his abortion of a filing is going to turn some heads in court, there are others that aren't entirely convinced yet for various reasons, one being that Phil is a relatively insignificant case and might just float on through the system if he's not given the proper scrutiny. I was on the fence before, and although I don't know enough to say whether he will get dismissed, forced into Ch. 13 or something else, there's no possible way things are going to go his way.

Bankruptcy is used successfully by two classes of people; those in serious, tragic debt, i.e. medical bills, or rich people who made a bad gamble/poor investment and are trying to walk away without taking too much of a hit. This works for the second group of people because despite being in large amounts of debt, they still have shit tons of money to hire lawyers who strong arm the courts and drag things out, allowing them to get away with shady shit. DSP has no tragic debt, which means he's trying to strong arm the courts. Only difference is that instead of hiring lawyers (real lawyers, not a bankruptcy mill that won't even represent him) who could try to find loopholes and finagle some sort of good result, Phil's smooth brain decided to just butcher his bankruptcy filing and hope that nobody notices. As easy as it is to say that the people working DSP's case don't give a shit, which is probably true, it's still their job to read these filings and verify their legitimacy. Not everyone is as lazy as pigroach here, and even people that don't give a shit can do a good job because it's their job and that's what they have to do whether they like it or not. So whatever happens, I'm pretty confident that he truth will be revealed in the proceedings and he's only going to qualify for what he can legitimately qualify for.

 

[DarkSoulsPhil]

How do I know by watching the saga has crossed that Rubicon? What should I look for changing to know the difference between now and then exactly?

When the court documents get released and if the result is in the pigroach's favour, his detractors would be rabid. At that point you've watched a decade of build up to see the wrong outcome. Dave's detractors have been waiting for his karma because he rubs a lot of people the wrong way for a long time with a psth of destruction.

Its only with the result that we'll cross into very active and spiteful trolling or laughter and celebrating. There really isn't an inbetween with this guy

 

[Schrödinger's Kat]

Yeah, Zillow doesn't have his particular unit listed. Using a comparable one is fine, but those are all higher than what he listed. And all other sites are in the same ballpark. He's fudging the numbers to make them do what he wants.

Here is the correct Zillow link to his unit. Zestimate $414,038 as of right now. No idea where Phil's $379,000 came from. Out of his ass, I guess.

17583 110th Ln SE # 30, Renton, WA 98055 | Zillow

17583 110th Ln SE # 30, Renton, WA 98055-6480 is currently not for sale. The 1,610 sq. ft. condo is a 3 bed, 2.5 bath unit. This condo was built in 1999 and last sold on 5/22/2014 for $265,000. View more property details, sales history and Zestimate data on Zillow.

www.zillow.com

 

[actually]

Here is the correct Zillow link to his unit. Zestimate $414,038 as of right now. No idea where Phil's $379,000 came from. Out of his ass, I guess.

17583 110th Ln SE # 30, Renton, WA 98055 | Zillow

17583 110th Ln SE # 30, Renton, WA 98055-6480 is currently not for sale. The 1,610 sq. ft. condo is a 3 bed, 2.5 bath unit. This condo was built in 1999 and last sold on 5/22/2014 for $265,000. View more property details, sales history and Zestimate data on Zillow.

www.zillow.com

It may not make a difference, but this is his address: "17505 110th Lane SE #30"

So I'm not sure if that's a different unit or what.

Edit: Looks like Zillow just has a single street number for all the units: "17583 110th Ln SE # 17, Renton, WA 98055". Regardless, they're all in the neighborhood of $410k-$420k, as you note. Same thing is true for other sites like Redfin.

 

[Schrödinger's Kat]

It may not make a difference, but this is his address: "17505 110th Lane SE #30"

So I'm not sure if that's a different unit or what.

It should be, the sale date matches Phi'ls on that unit. Chances are its the correct unit.

Only Phil could have an address that isn't well-defined.

 

[Cyber Bowling]

While the general consensus on here seems to be that pigroach is at least mostly fucked and his abortion of a filing is going to turn some heads in court, there are others that aren't entirely convinced yet for various reasons, one being that Phil is a relatively insignificant case and might just float on through the system if he's not given the proper scrutiny. I was on the fence before, and although I don't know enough to say whether he will get dismissed, forced into Ch. 13 or something else, there's no possible way things are going to go his way.

Adding onto this, even if Phil is miraculously able to get away with his filing, he's at best delaying the inevitable. It isn't like he learned something from all of this and is attempting to turn his life around or financially get back on track. He's just trying to ditch his debt so he can, in typical Phil fashion, do the exact same things he did before to get into debt in the first place. Even now, he's still making the minimum payments on his tax payment plan, and he hadn't prepared at all for this year. He hasn't cut down on any of his spending and is even talking about going on a honeymoon vacation after all of this.

Basically, at the end of the day, nothing can save Phil from himself.

 

[King Daddy Telomerase]

Phil said again today a few times that he thinks by May/June, his debt will be fixed and he can go back to spending like he deserves. If he's actually able to do this, I'm going to go on a shopping spree and max out numerous cards.

 

[JamFlowMan]

When the court documents get released and if the result is in the pigroach's favour, his detractors would be rabid. At that point you've watched a decade of build up to see the wrong outcome. Dave's detractors have been waiting for his karma because he rubs a lot of people the wrong way for a long time with a psth of destruction.

Its only with the result that we'll cross into very active and spiteful trolling or laughter and celebrating. There really isn't an inbetween with this guy

After following Weeb Wars and seeing the reaction when that outcome went wrong after less then a years build I can't fathom what will happen if this ends up working in Phil's favor. We're talking immeasurable levels of salt. So as long as you don't become personally attached to the outcome of the case you have something to look foreward to no matter what.

 

[Phalanx]

The thing that makes me think it’s not going to go his way is that it’s bankruptcy lawyers and that trustee filing that James the lesser mentioned seems like they are going to challenge it. I have a suspicion it’s midland bank who have the debt to the CT Condo. If this is the case it’s going to be messy as they will try to skupper his plan and they will pled to the judge that Phil is earning 10k a month and is only doing this to lose the ct condo. That in terms of bankruptcy law is an abuse of the system which will have it dismissed.

Now the judge could then add a comment which does get recognised in future cases btw and say something like ~ don’t bother approaching this again as it shows you are trying to abuse the system. One interesting fact is I don’t think Phil can appeal either seen nothing about that which some courts you can’t.

As soon as it’s dismissed midland will go on him hard a foreclosure challenge would be brutal as he’s dealing with corporate lawyers who are savage. His looming federal and state tax debt too is getting crazy he is going to owe Washington most likely 30k this year even more. It’s the one he owes 15k currently on, which I think is federal.

This year is not looking good for Phil.

 

[tzgnilki]

The thing that makes me think it’s not going to go his way is that it’s bankruptcy lawyers and that trustee filing that James the lesser mentioned seems like they are going to challenge it. I have a suspicion it’s midland bank who have the debt to the CT Condo. If this is the case it’s going to be messy as they will try to skupper his plan and they will pled to the judge that Phil is earning 10k a month and is only doing this to lose the ct condo. That in terms of bankruptcy law is an abuse of the system which will have it dismissed.

Now the judge could then add a comment which does get recognised in future cases btw and say something like ~ don’t bother approaching this again as it shows you are trying to abuse the system. One interesting fact is I don’t think Phil can appeal either seen nothing about that which some courts you can’t.

As soon as it’s dismissed midland will go on him hard a foreclosure challenge would be brutal as he’s dealing with corporate lawyers who are savage. His looming federal and state tax debt too is getting crazy he is going to owe Washington most likely 30k this year even more. It’s the one he owes 15k currently on, which I think is federal.

This year is not looking good for Phil.

I hope he's saving up for a good lawyer but I know he isn't

a bad lawyer or no lawyer could really be the nail in the coffin

 

[Sphadilcastro]

$125K ! That's nuts! Man, if Dave has more than $100K in equity, then he really is a moron for not selling and moving to Texas.

Wouldn't forcing the sale of the Wakahndo screw the lender out of profit (interest) though? It's not that lender's fault Dave screwed other lenders.

Maybe the endgame is to sell it after the bankruptcy.

 

[James Smith]

Wouldn't forcing the sale of the Wakahndo screw the lender out of profit (interest) though? It's not that lender's fault Dave screwed other lenders.

No because equity is money after the lender gets paid. He has enough equity to pay the lender AND walk away with $128 or so thousand.

Realtor commission is a meme anyway because he could sell that thing private party in a heartbeat.

 

[Beetus Knuckles]

Maybe Phil put the value of WAKahndo where he did because it will take 50k to remediate the pig-gout stank and dust and detritus out of his office if he sells. Seriously though, one of the best signs that the jig is up for DSP would be a continuance of the 341 while the trustee or the US trustee looks into the value of his assets or the validity of his business expenses. If one or the other aren’t convinced that it’s a mistake rather than attempted dishonesty, they could hit him with a 2004 exam to dig deeper.

 

[GoutfootHorseface]

After following Weeb Wars and seeing the reaction when that outcome went wrong after less then a years build I can't fathom what will happen if this ends up working in Phil's favor. We're talking immeasurable levels of salt. So as long as you don't become personally attached to the outcome of the case you have something to look foreward to no matter what.

Even if it goes his way, he keeps the house and everything else is dismissed, he still wakes up the next day as Phil Burnell internet wanking man, father to a cat who hates him and a horse wife, destined to spend the rest of his days streaming games he hates to people who hate him. Whatever the outcome of this court shenanigans most people will live better and more fulfilling positive lives than Phil.

the one thing the court can’t dismiss is the fact he will spend the rest of his days as Phil P Burnell.