[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

[Joshuan Moon]

His credit wasn't looking good then to only get 6.14%.

I'm assuming he bought the second condo before the car. I'm sure that fresh line of credit there didn't help. It is an absolutely shit rate. Almost 17% of the total cost will be in interest.

 

[harbinger]

Wait. His car loan has a 6.19% APR? I thought it was a buyer’s market for cars. I could have sworn he said he got a 0% APR.

 

[actually]

Did these get uploaded for the bankruptcy now? Whats the relevancy of the car payments besides phil being a dumbass?

Reaffirmation of the debt. Looks like the loan servicer is willing to let him just promise that he's going to keep paying it.

Wait. His car loan has a 6.19% APR? I thought it was a buyer’s market for cars. I could have sworn he said he got a 0% APR.

Probably 0% APR for the first X months or something like that. Given that it's a 72 month loan, they knew they would be making bank off of him.

 

[DiabeticSP]

Reaffirmation of the debt. Looks like the loan servicer is willing to let him just promise that he's going to keep paying it.



Probably 0% APR for the first X months or something like that. Given that it's a 72 month loan, they knew they would be making bank off of him.

So basically unlike Midfirst the car company made him sign a paper that he'd keep paying and they'll leave the car alone?

 

[actually]

So basically unlike Midfirst the car company made him sign a paper that he'd keep paying and they'll leave the car alone?

That's my understanding. I'm sure @AnOminous or @SoapQueen1 or @Beetus Knuckles can confirm.

 

[Arrakis Sandworm]

So basically unlike Midfirst the car company made him sign a paper that he'd keep paying and they'll leave the car alone?

It's simply affirming that DSP wants to keep his car and not place a stay on the auto loan payments. By claiming he is "reallocating funds" he is saying "I'll fuck over other creditor's to keep my car."

It's something Dave wants to happen.

 

[DiabeticSP]

Is there any reason he only signed it now?

Did the car company mention it to him or maybe he's worried about multiple creditors leaning on the trustee to chapter 13 convert him?

 

[Mr. Brown]

Wait. His car loan has a 6.19% APR? I thought it was a buyer’s market for cars. I could have sworn he said he got a 0% APR.

Loans are normally 0% for a number of years but if you don't pay the loan off all the interest is added back in one large lump.

There is absolutely no way Phil could have seen this coming.... The Loan must be bugged, there is nothing he can do.

 

[Salubrious]

DSP is paying $380 per month for a car he drives 35 miles per week? He's paying over $2 per mile on his own car?

 

[tzgnilki]

DSP is paying $380 per month for a car he drives 35 miles per week? He's paying over $2 per mile on his own car?

plus registration, insurance, maintenance, gas

 

[Salubrious]

plus registration, insurance, maintenance, gas

I bought a minivan for $17k on a 72 month loan at 5%, and I only paid $290/month.

Why the fuck is he paying $380/month for a car worth $15k? Did I miss something?

Edit: Was the car worth $22,600 when he bought it? Is that why? Way to go DSP. Cars depreciate like milk dumbass.

 

[GunnlaugurSassoon]

I am a bit confused by that. The document states that the attendees should call in at 09:00 o'clock. Will they'll be held on hold for about one and a half hour then?

This is added hilarity. DSP's hatred for telephone calls, and he's required to call in and be on the phone for an hour and a half, just as an intro to whether or not he'll be bankrupt and possibly lose all his "hard earned" possessions. It's like he's descending the circles of hell.

 

[tzgnilki]

I bought a minivan for $17k on a 72 month loan at 5%, and I only paid $290/month.

Why the fuck is he paying $380/month for a car worth $15k? Did I miss something?

Edit: Was the car worth $22,600 when he bought it? Is that why? Way to go DSP. Cars depreciate like tard cum dumbass.

to blow $20,000 on some cheap shit like that, god damn he's fucking dumb

that thing is a glorified trolley basket for his gin and tv dinners

 

[Salubrious]

to blow $20,000 on some cheap shit like that, god damn he's fucking dumb

that thing is a glorified trolley basket for his gin and tv dinners

I remember that video now where DSP claimed that he got a new car because a used car would have cost the same "per month."

What used car costs $380/month? Somehow that video makes even less sense now and I didn't think that was possible.

 

[tzgnilki]

now he's saying he'll be late on the 26th

did he only just find out tonight after his stream?

will be interesting to see how vague he is about being late, and what he says when he does go live, or if it's bad he'll outright cancel his stream to bait sympathybux

 

[actually]

now he's saying he'll be late on the 26th

did he only just find out tonight after his stream?

will be interesting to see how vague he is about being late, and what he says when he does go live, or if it's bad he'll outright cancel his stream to bait sympathybux

View attachment 1200607

Nah, he's just doing it now because he's off tomorrow and thus is hoping he won't face questions about it.

 

[AnOminous]

It's simply affirming that DSP wants to keep his car and not place a stay on the auto loan payments. By claiming he is "reallocating funds" he is saying "I'll fuck over other creditor's to keep my car."

It's something Dave wants to happen.

This would be another thing you're not allowed to do in bankruptcy. If you preferentially pay creditors, that will be reversed, even if you just pay off a debt shortly before declaring bankruptcy. It's treated more or less in the same way as a fraudulent transfer.

Actually, correct that, I just looked at what he filed and it's at least possible he's allowed to do this if he does it up front. It looks like Rochelle Shuffield signed off on this attempt, so it might be legit. I presume like anything else, the other creditors can object if this somehow impacts them.

 

[actually]

This would be another thing you're not allowed to do in bankruptcy. If you preferentially pay creditors, that will be reversed, even if you just pay off a debt shortly before declaring bankruptcy. It's treated more or less in the same way as a fraudulent transfer.

Stupid ass question, then. What the fuck does that "reallocate my money" line really mean? That once he discharges the CC debt he'll have a bunch of extra money and so it won't be a problem? Cause that's not really a reallocation.

 

[King Daddy Telomerase]

I'm calling that he'll troll on Twitter that everything is fine and he'll be right there, knowing he was never going to call the court.

 

[AnOminous]

Stupid ass question, then. What the fuck does that "reallocate my money" line really mean? That once he discharges the CC debt he'll have a bunch of extra money and so it won't be a problem? Cause that's not really a reallocation.

I have no idea what pigroach babble means.