[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

[BallBuster]

My understanding is the 341 hearing is practically a chance for him to reaffirm or correct the filing one last time before creditors can start filing objections (which has a 1 or 2 month grace period). So even though the timing is probably coincidental the motion to lift the stay is in the same general category of "objections to the bankruptcy ".

There isn’t enough time in that phone call to make all the necessary corrections.

 

[DiabeticSP]

Idiots didnt even email him, they sent him a letter.

Fucking idiots, Phil doesnt even check his mail!!

 

[James Smith]

-this is MidFirst asking the BK judge to expedite something that was always going to happen, they are not asking the judge to enforce a debt that would otherwise be discharged.

No. The debt to midfirst, underwater or not, would be discharged in a normal bankruptcy. They're asking for permission to continue collection efforts to do two things:

1. get the CT condo away from him so they know it's being taken care of before it gets sold
2. get a lien on his WA condo so they can have the courts order him to sell his shit once the bankruptcy is over

They're not just asking the court to expedite the process.

 

[BrokeACKMountain]

Idiots didnt even email him, they sent him a letter.

Fucking idiots, Phil doesnt even check his mail!!

He doesn't even check his mail when he expects a parcel. One of his fans got him a new Switch controller from his wish list and he started whining about it probably being a troll fucking with him. The next day he found that it had been lying on his fucking porch for god knows how long...

 

[GunnlaugurSassoon]

I find his lawyer's response to be hilarious or out of this world. For only $1,200, do they even talk with client at all? I've a feeling the only thing they told him is STFU, take these classes and fill these forms out.

This is a good point. Considering how long Phil can blather on for about nothing and how many times he goes completely off topic and distracts himself, even if there was a 1 hour meet'n'chat built in with the fixed $1,200 price, there's no way this much discussion occurred. Hell, with an in person consultation for the quality of lawyer you get with a one-size-fits-all bankruptcy fixed price payment, I can't imagine there's much room at all for a discussion, maybe a quick Q&A. This leaves me thinking either Phil's in person timidity means he can talk like an almost normal human in person without his typical verbosity (slash nonsense), or Phil completely lied and just said they talked about it and the lawyer commiserated with him.

 

[AnOminous]

No. The debt to midfirst, underwater or not, would be discharged in a normal bankruptcy. They're asking for permission to continue collection efforts to do two things:

1. get the CT condo away from him so they know it's being taken care of before it gets sold
2. get a lien on his WA condo so they can have the courts order him to sell his shit once the bankruptcy is over

They're not just asking the court to expedite the process.

We can infer that they want to pursue a deficiency judgment from the fact they are pursuing a judicial foreclosure in Connecticut. Connecticut allows nonjudicial foreclosure which is much cheaper and less involved. It just requires some paperwork and then it's automatic. However, that procedure just gets you ownership of the property securing the debt. It takes a court to get a deficiency judgment.

So the fact they are pursuing a more expensive, involved process necessarily implies they're seeking something they can't get from the nonjudicial process, which would be that judgment. It's an inference but a strong one.

The timing of this is a bit delicate because they need the judgment and some window of time to file it as a lien to turn it from an unsecured judgment debt, on the same priority as his credit card debts, to a secured debt, such that they can either foreclose on the WAkondo themselves or just wait until he dies of gout or sells it, or it gets sold in the bankruptcy.

Their best situation would be if the bankruptcy gets dismissed.

This also lights a fire under the current mortgage holders on the WAkondo even if Phil is up to date on that. They obviously don't want Midfirst getting a slice of their pie. So they might preemptively foreclose on him too if their agreement with him allows that for some triggering condition (such as declaring bankruptcy) and invoke an acceleration clause (making the full amount of the loan due immediately).

My understanding is the 341 hearing is practically a chance for him to reaffirm or correct the filing one last time before creditors can start filing objections (which has a 1 or 2 month grace period). So even though the timing is probably coincidental the motion to lift the stay is in the same general category of "objections to the bankruptcy ".

Even if DSP isn't being directly punished for blowing off the 341 hearing, motions like that lift the stay motion are based on the operative paperwork at the time the motion is filed. So by blowing his chance to amend based on whatever happens at the 341 hearing, Phil is at a huge disadvantage in the motion based on what's currently going on.

It's easy to get frustrated seeing someone like a pigroach go from one rule violation to the next like a complete asshole, seemingly unpunished, but in most cases courts don't bother sanctioning rules violations, especially when the actual consequence to what you did to yourself is you just fucking lose.

Basically he played himself and no actual "punishment" is necessary.

 

[Beetus Knuckles]

The jig may we’ll be up for Phil. He’s looking down the barrel of several bad outcomes. His only out is that his Chapter 7 gets by the trustee, but given his income, being self-employed, and the amount of unsecured debt, that’s almost impossible. The worst case scenario is that the US Trustee starts looking into his case. Unlike the trustee, the US Trustee is getting paid big bucks by the DOJ to review cases and sniff out potential fraud. And the US Trustee will report him to the IRS if his business expenses are as fraudulent as we believe. It’ll be a DOJ/IRS tag-team that unleashes a financial and legal Doomsday Device on Dave. What a rush!

 

[UncleTusky]

This also lights a fire under the current mortgage holders on the WAkondo even if Phil is up to date on that. They obviously don't want Midfirst getting a slice of their pie. So they might preemptively foreclose on him too if their agreement with him allows that for some triggering condition (such as declaring bankruptcy) and invoke an acceleration clause (making the full amount of the loan due immediately).

If Midfirst's deficiency request goes through, Phil will owe about $50k after the CT foreclosure concludes compared to an equity of about $125k on the WAKhando for a net equity of $75k. What am I missing here, my rough math says there would be enough money to go around if the WAKhando were foreclosed while you are making it sound like the two mortgage companies can't both get what they want. Would the "full amount of the loan" in your example mean the full $300k or whatever (as in, no credit for appreciation or principal he paid off)?

 

[AnOminous]

If Midfirst's deficiency request goes through, Phil will owe about $50k after the CT foreclosure concludes compared to an equity of about $125k on the WAKhando for a net equity of $75k. What am I missing here, my rough math says there would be enough money to go around if the WAKhando were foreclosed while you are making it sound like the two mortgage companies can't both get what they want. Would the "full amount of the loan" in your example mean the full $300k or whatever (as in, no credit for appreciation or principal he paid off)?

Once lawyers gets involved there isn't enough money to go around no matter what the math says.

 

[eggsandwich]

My God, all Phil had to do was picked a much cheaper house (maybe 200k at most?), lived within his means and he could have it all. Sure, he still had debt and taxes to paid, but it was not insurmountable from a couple yrs ago.

Instead, he's now at risk to lost almost all of it. He's going up against someone who had 20+ yrs experience in this business. These lawyers don't give a crap about Youtube, paypigs, 50k videos, 10 yrs legacy or detractors. All they care are using laws as their mean to squeeze as much $$$$ as possible.

Phil tried to have a cake and eat it too. This time, the cake is just too big. But hey, he doesn't sound worry or upset on stream. I guess we could all grab popcorn for Thurs audio log.

 

[Wing Zero]

My God, all Phil had to do was picked a much cheaper house (maybe 200k at most?), lived within his means and he could have it all.

Phil would have ended up in this situation no matter what house he bought - it just would have happened more slowly. It needs to be said again that Phil simply never grew up and realized the value of working hard for your money. Youtube and Machinima spoiled him into thinking that money was an near-infinite resource that he can earn for fuck-all work, and now that same mentality continues to be enabled by his wheelchair fanbase, even long after his "glory days". At the age of 38 I dare say that he is too far gone to even learn that lesson now, even if he is forced to lose everything.

 

[der rademacher]

If it is me, I wouldn't be able to sleep until this hearing or process is over. Whatever the result is, delaying will just make things even worse. Just show up and deal with the result, be a man for once Phil.

So true, but we all know Dave sleeps very well no matter the circumstances due to his powerful sleeping agent

I can't help but think he's going to skip this phone call. Which I feel will be disastrous as there is virtually no excuse for not showing up for a phone call.

a) Your honor, there was an emergency which caused me to go to the hospital, as I had good belief that my horse infected me with the macarena virus.
b) Your honor, my stupit lawyer did not tell me that I had to go to a phone call meeting.
c) Your honor, I was still sleepy from a bit of overuse of my sleeping agent, so I missed your call. We can reschedule for, let's say 31.04.2020. Sounds good?

 

[Martys_not_smarty]

The jig may we’ll be up for Phil. He’s looking down the barrel of several bad outcomes. His only out is that his Chapter 7 gets by the trustee, but given his income, being self-employed, and the amount of unsecured debt, that’s almost impossible. The worst case scenario is that the US Trustee starts looking into his case. Unlike the trustee, the US Trustee is getting paid big bucks by the DOJ to review cases and sniff out potential fraud. And the US Trustee will report him to the IRS if his business expenses are as fraudulent as we believe. It’ll be a DOJ/IRS tag-team that unleashes a financial and legal Doomsday Device on Dave. What a rush!

The Beverlys are the trustees and the jobber is Phil:

Also to @Comma will you be updating the first post to show the events that have happened after he skipped the initial court date? Specifically MidFirsts motion to collect on the Connecticut property as well as the 26th hearing taking place via phone?

 

[the khat quaffer]

Phil would have ended up in this situation no matter what house he bought - it just would have happened more slowly. It needs to be said again that Phil simply never grew up and realized the value of working hard for your money. Youtube and Machinima spoiled him into thinking that money was an near-infinite resource that he can earn for fuck-all work, and now that same mentality continues to be enabled by his wheelchair fanbase, even long after his "glory days". At the age of 38 I dare say that he is too far gone to even learn that lesson now, even if he is forced to lose everything.

This, and what nags me in a weird way is his asinine belief that trolls are the reason he's in this situation. Trolls caused his financial hardships by preventing him from getting sponsorships or twitch bounties or whatever other faggot ass stream revenue.

You cannot fix someone being irresponsible with money. You can't fix stupid. Like, even if no detractor channels ever fucked with Phil, if nobody ever SLAAANDERED him online, if he got a decent share of sponsorships or twitch bounties or whatever (keeping in mind we're already nigh into fantasyland at this point), and if he was never doxxed so that snipers had their sights trained on his front porch at all times ....Phil would STILL be in the same bankruptcy situation. He's just bad with money. He doesn't do any research (the WA move, lol), he's below-average intelligence, he refuses to take anyone's advice about anything, he refuses to adapt his 'business model', if you can call it that, until years later, if ever. He could make $50k or $100k a month and he'd still find a way to fuck it up for himself, probably in an even worse way. Mo' money mo' problems, Phil.

He's just fucking stupid. He's a donkey that miraculously found a way to play a flute 10 years ago. Or 11 years ago, who the fuck cares. Bankruptcy and financial ruin are his logical destiny.

 

[tzgnilki]

This, and what nags me in a weird way is his asinine belief that trolls are the reason he's in this situation. Trolls caused his financial hardships by preventing him from getting sponsorships or twitch bounties or whatever other faggot ass stream revenue.

You cannot fix someone being irresponsible with money. You can't fix stupid. Like, even if no detractor channels ever fucked with Phil, if nobody ever SLAAANDERED him online, if he got a decent share of sponsorships or twitch bounties or whatever (keeping in mind we're already nigh into fantasyland at this point), and if he was never doxxed so that snipers had their sights trained on his front porch at all times ....Phil would STILL be in the same bankruptcy situation. He's just bad with money. He doesn't do any research (the WA move, lol), he's below-average intelligence, he refuses to take anyone's advice about anything, he refuses to adapt his 'business model', if you can call it that, until years later, if ever. He could make $50k or $100k a month and he'd still find a way to fuck it up for himself, probably in an even worse way. Mo' money mo' problems, Phil.

He's just fucking stupid. He's a donkey that miraculously found a way to play a flute 10 years ago. Or 11 years ago, who the fuck cares. Bankruptcy and financial ruin are his logical destiny.

I think his issue is tunnel vision, he doesn't learn from the past and he doesn't think about the future

and putting all of his eggs in one basket, then throwing them all into another basket when it doesn't work out

 

[ReentryPhantom]

This, and what nags me in a weird way is his asinine belief that trolls are the reason he's in this situation. Trolls caused his financial hardships by preventing him from getting sponsorships or twitch bounties or whatever other faggot ass stream revenue.

You cannot fix someone being irresponsible with money. You can't fix stupid. Like, even if no detractor channels ever fucked with Phil, if nobody ever SLAAANDERED him online, if he got a decent share of sponsorships or twitch bounties or whatever (keeping in mind we're already nigh into fantasyland at this point), and if he was never doxxed so that snipers had their sights trained on his front porch at all times ....Phil would STILL be in the same bankruptcy situation. He's just bad with money. He doesn't do any research (the WA move, lol), he's below-average intelligence, he refuses to take anyone's advice about anything, he refuses to adapt his 'business model', if you can call it that, until years later, if ever. He could make $50k or $100k a month and he'd still find a way to fuck it up for himself, probably in an even worse way. Mo' money mo' problems, Phil.

He's just fucking stupid. He's a donkey that miraculously found a way to play a flute 10 years ago. Or 11 years ago, who the fuck cares. Bankruptcy and financial ruin are his logical destiny.

I'm under the belief that if no detractor channels existed, DarkSydePhil wouldn't be relevant in any aspect.

 

[der rademacher]

I think his issue is tunnel vision, he doesn't learn from the past and he doesn't think about the future

and putting all of his eggs in one basket, then throwing them all into another basket when it doesn't work out

Problem being, that strategy seemingly worked the last ten or even more years (who really knows what fucking schemes this closet faggot pushed before he invented YT let's plays and between yelling at fighting tournament announcers and helicopter parts customers alike), leading to the indestructible King of Hate saga and the pigroach luck meme. I hope he comes crashing down in flames this season, but given the past events, the producers of the show normally would have his pigroach luck powers be activating anytime soon now.

 

[tzgnilki]

Problem being, that strategy seemingly worked the last ten or even more years (who really knows what fucking schemes this closet faggot pushed before he invented YT let's plays and between yelling at fighting tournament announcers and helicopter parts customers alike), leading to the indestructible King of Hate saga and the pigroach luck meme. I hope he comes crashing down in flames this season, but given the past events, the producers of the show normally would have his pigroach luck powers be activating anytime soon now.

I imagine his helicopter parts job was him kissing everyone's ass, then talking shit about them behind their back, and a lot of flexing to make himself seem important to ppl who don't care

 

[King Daddy Telomerase]

I imagine his helicopter parts job was him kissing everyone's ass, then talking shit about them behind their back, and a lot of flexing to make himself seem important to ppl who don't care

Uh, no. Philip told President Donald Trump to stop fucking around and pay his bills.

 

[Martys_not_smarty]

Not sure if it's been put up yet but the meeting can be heard by anyone as shown on the docket from the 21st:
https://web.archive.org/web/2020032...wawb.668529/gov.uscourts.wawb.668529.16.0.pdf
So according to this we can be a front row seat via telephone as interested parties.