[26-Mar-2020] Philip's 341 Creditor Meeting - When what should be 5 minutes becomes an eternity.

[FelixGibraltar]

except he was. and he didn't say he was representing citi bank, he said he was representing their debts

Ah true dat. You're right. But the guy was most definitely a troll. He used a bunch of troll rhetoric as if he's been on the forums lmaoo

 

[tzgnilki]

Phil is a guy who for $100 will do nothing but put on a fucking vest. I don't think he's going to try to pull off something like cooking his books to hide income and expenses. That's way more effort than he can muster.

But I hope he tries to do this. I really do. Because if he does, he'll get caught (because he'll fuck it up as this requires actual accounting skill) and that will be the end of it for him. He may even face real, criminal charges, because that is most certainly a willful, blatant attempt to hide assets/income.



Yep. She knows he's getting deposits from Streamlabs because she was obviously looking at his bank deposits when bringing this up. Phil blatantly lied. Nancy didn't say anything, but I'm sure she made a note of his lie.

we always knew phil would be his own worst enemy

he has some phobia with telling the truth, after living in his own bubble for years i'm not surprised

and rochelle loves phil, he has paid atleast $2,500 so far, with the relief from stay hearing coming up, prob an extra $1,250 minimum

ez money and she's very careful to make sure phil is responsible for any errors

 

[Trans Fat 41g]

Listening to the 341 meeting.

This almost feels like one of those real shitpost-y ARG's, I'm cringing.

Stuff like this makes me feel giddy and spoiled, fantastic.

 

[Stoneheart]

He was clearly a troll, but I think he also had a legal right to be there as he did buy Citibank's debt for pennies. Forum admins are still verifying.

Well thats funny. and might be even a good investment, the bank saw this mess and wanted out as fast as possible, eating a loss.

 

[PeeveTheSheev]

Piggy in the courthouse
Debt up to his eyebrows
Some got bought by tractors dood
But Phil still won't pay it off now.

 

[Salubrious]

Well thats funny. and might be even a good investment, the bank saw this mess and wanted out as fast as possible, eating a loss.

I think he said in another post that he got that debt for TWO CENTS on the dollar.

I'm not sure if that was a mistype, but I've never heard debt being sold for that low.

Edit: Here is where I got it:

https://kiwifarms.st/threads/26-mar-2020-philips-341-creditor-meeting.67632/page-27#post-6203342

 

[Chad Nasty]

Listening to the 341 meeting.

This almost feels like one of those real shitpost-y ARG's, I'm cringing.

Stuff like this makes me feel giddy and spoiled, fantastic.

I bet phil did this for our satisfaction. He was like "Nah, the princes on the farms deserve better than a transcript" and made sure we could archive his bankruptcy better.

 

[actually]

he was real

No the fuck he was not, genius...

X to doubt. This person did not buy DSP's debt. Just another internet troll looking for ass pats.

I saw on the front page that some troll bought DSP's debt. Do we have a name or documents to go with it?

except he was. and he didn't say he was representing citi bank, he said he was representing their debts

I've archived the call in OP. Thank you @nohandsboi - curious how much debt you bought and how much it cost you.

Still waiting on the verification at this point.

 

[King Daddy Telomerase]

Rochelle Shuffield Bankruptcy Attorney
"I just kinda lump 'em together."

In her defense I'm sure she is perfectly fine if you're basically honest and want someone to help with the forms and process. I doubt even Daniel Webster could do much with a client like DSP.

Agreed, I think I'm being a little harsh on her. 99% of her cases are filling out forms and knowing how all that works. I doubt she had any idea what she was getting into with Phil. She's never had, and never will again, have 100+ autistic trolls listening in smelling her client's blood waiting to laugh their ass off.

 

[myone]

I doubt she had any idea what she was getting into with Phil. She's never had, and never will again

Yeah, she's not really at fault here and I feel a little bad for her. Very few people would be dumb enough to lie to their own lawyer during their own fucking bankruptcy. Who would sabotage themselves like that? Only exceptional individuals like Phil. I think she's still pretty much in the dark about the magnitude of fuck up that her client is.

 

[lavrentiyberia]

That listing was interesting because no where in any of DSP's bankruptcy filings does he ever list out all of his game systems.

A troll/autist/"well meaning citizen" had to have emailed her that list.

I wonder if DSP would have some legal interference issue? I'm sure not or the trustee wouldn't have gone into it in the first place.


Edit: Maybe it's in a document that's not publicly available, like his one month of Paypal and bank account transactions? That would seem odd though.

She said ‘a creditor’ shared those details about ‘electronics you might own’

 

[ProvenWrong]

Just a quick question for those well versed in this subject. Did Nancy take extra time for Phil due to the last meeting being cancelled upon or because most of the documents that he submitted had some inconsistencies?

Also at the end when Phil and his lawyer stated why his business expense is 5k and they explained why - I literally didn't catch how his business expense is that high. Only numbers I heard were groceries, cell phone, and all the money he gets from PayPal and other websites. I didn't hear him once mention how 5k was explained.

I hope on the next meeting they dive into that further.

 

[QwahlityKahntent]

Just a quick question for those well versed in this subject. Did Nancy take extra time for Phil due to the last meeting being cancelled upon or because most of the documents that he submitted had some inconsistencies?

Also at the end when Phil and his lawyer stated why his business expense is 5k and they explained why - I literally didn't catch how his business expense is that high. Only numbers I heard were groceries, cell phone, and all the money he gets from PayPal and other websites. I didn't hear him once mention how 5k was explained.

I hope on the next meeting they dive into that further.

she intentionally moved phils to the end because she had a "number of questions" about it

 

[An Avenging Bird]

I'm relieved there were no catastrophic interruptions by any of the convulsing autists on the line that would have caused the trustee to become frustrated and order a continuation.
You can tell that Phil fed his attorney a sob story about people who want to destroy his life with the way he retreated then she defended him valiantly in proclaiming she didn't believe it to be a real collections agent.
Typical pussy bitch DSP.

 

[DiabeticSP]

Buying all sorts of shit on credit then turning around to declare bankruptcy is one of the oldest cons in the book. It used to be a lot easier but they've made it much more difficult now a days.

Nancy's probably seen people both more stupid and smarter than Phil try this.

Phil might manage a bankruptcy, but it won't be on his terms. He's gonna find out that recent purchases (ie: since October by his own admission or earlier based on when he stopped paying the house) are nondischargeable.

Once you KNOW you're gonna declare bankruptcy it doesnt matter when you file. From the moment you start using credit you dont plan on paying its on you even if you get bankruptcy.

 

[King Daddy Telomerase]

Also at the end when Phil and his lawyer stated why his business expense is 5k and they explained why - I literally didn't catch how his business expense is that high. Only numbers I heard were groceries, cell phone, and all the money he gets from PayPal and other websites. I didn't hear him once mention how 5k was explained.

Phil has never explained the 5k expenses, in both the hearing or in any forms.

I think what Nancy was doing by listing all his consoles (which he also stated he owned before the last 6 months), and his meager gaming subscription services, is proving the 5k expenses are complete bullshit.

 

[lavrentiyberia]

Just a quick question for those well versed in this subject. Did Nancy take extra time for Phil due to the last meeting being cancelled upon or because most of the documents that he submitted had some inconsistencies?

Also at the end when Phil and his lawyer stated why his business expense is 5k and they explained why - I literally didn't catch how his business expense is that high. Only numbers I heard were groceries, cell phone, and all the money he gets from PayPal and other websites. I didn't hear him once mention how 5k was explained.

I hope on the next meeting they dive into that further.

We don't know if she applied even more scrutiny to his case because of his no-show, but she definitely spent by far the most time on his case than any of the other ones scheduled that day. The $5k number is tricky because it shows up twice in Phil's documents: the one we're all interested in is on a form called Monthly Income and Expenses Statement, where it breaks down his business's numbers, and is still unexplained. The other $5k is on his main Bankruptcy Petition, and is broken down into various expenses, groceries, mortgage and tax payments, etc. This is the one Phil and his lawyer were pretending the creditor was asking about and that they had ‘already explained’.

I'll just show some screenshots of how those numbers fit together:

From the Monthly Income and Expenses Statement we get an average monthly net income of $3,990.69



That is his average monthly income from the last 6 months ($9,234.53) minus his unexplained average business expenses ($5,243.84).

He takes the average net income and adds it to Kat's ($1,087.23) on the Bankruptcy Petition's Schedule I: Your Income section:



So he now has $5,077.92, from which he subtracts another $5k number, in the Schedule J: Your Expenses section:



to reach the famous negative 35 dollars per month income.

 

[Iron Hamster]

Nancy: "I'm looking at the PayPal account that you have sent me, one has Twitch Interactive Inc, sends you a check, then it looks like that same amount goes out, there's instant withdraw to debit card. How does that work?"

It looks like she's already caught on to these shenanigans. He's moving money from his PayPal to a debit card, and not just some of it, the entire amount. I'm sure she's going to want to see those debit card transactions, too. It seems from the testimony that most of the expenses are not paid out of this PayPal account.

Nancy: "You've provided me a copy of your PayPal account for one month, I would like to see the last six months of both of your Paypal statements. "

So Phil has two PayPal accounts, and only one of them Nancy has seen. What interesting goodies will she find in the other one, and looking back at the last six months? I wonder if the other PayPal account has all his tips in it, and she hasn't seen just how much money Phil actually makes.

Now, since his attorney said she had those 6 months right there, she should have immediately emailed them. How much you want to bet that didn't happen?

 

[Il_Duke]

I think he said in another post that he got that debt for TWO CENTS on the dollar.

I'm not sure if that was a mistype, but I've never heard debt being sold for that low.

Edit: Here is where I got it:

https://kiwifarms.st/threads/26-mar-2020-philips-341-creditor-meeting.67632/page-27#post-6203342

Regular debt’s going to go for 4-7 cents, but you have to remember this is debt already under a chapter 7 bankruptcy. They factor in the risk that its real value is 0 if it gets discharged. I can believe 2.

 

[King Daddy Telomerase]

Now, since his attorney said she had those 6 months right there, she should have immediately emailed them. How much you want to bet that didn't happen?

Rochelle probably sent them, or at least whatever Phil provided to her. The trustee needs to make a decision in the next 10 days. If she doesn't get what she wants, she'll just fuck Phil more.