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

[dsflfdsl23012]

I don't feel bad for her at all, and yes this is partially her fault. She SIGNED that bankruptcy, clearly she didnt read the damn thing, or she would have noticed all the problems.

I get not reviewing the document without payment, but even a cursory glance at it shows blatant problems, like business debts for a business that doesnt exist, buying pet food for a non existent pet, incomes that dont match incomes listed in other parts of the document, a man that streams on the internet having no electronics, a business with $1500 in assets somehow hitting $5000 a month in expenses, a condo listed as a single home, ece. If I were a lawyer, even a cut rate mall lawyer, I'd still overview these things before signing them to prevent this exact situation, being stuck with an obviously lying/incompetent client. At the bare minimum she should have demanded more money for representing this trash fire.

If she is willing to sign off on this hog wash, she deserves to get raked over the coals for being a total idiot. "oh yeah, we just decided to mix them together" Under WHAT possible line of thinking does "mix business and personal expenses for a bankruptcy" make a single lick of sense?

She is an utter ripoff fraud of a lawyer, perfect for Phil. It'll be fun to watch both of them burn over the next 2 months.

She was aware. That's why she "just lumped it all together lol".

 

[gh0stzero]

Consider how many people on Twitch stream only games like Hearthstone or Path of Exile. There's a ton of free or free-to-play games that could be played over and over. I don't think it's unreasonable to claim new games as a business expense (I see it as something like purchasing a uniform--ideally it lasts a while, but it will be replaced eventually), but I don't think it's an absolute necessity that a streamer/youtuber/khantent creator has to purchase new games.

Especially if they decide to check out one of his streams and they are greeted to him begging for an hour on pre-stream. Could they argue he doesn't need games at all because speds keep sending cheers when there is no gameplay?

Also not to powerlevel but.

I freelance a little, but I'm not that good that I'm able to give up my day job so I can confirm having 2 paypal accounts is so much easier when your doing returns etc.

Phil completely resisted accepting donations on stream (hard to imagine I know) claiming it was a nightmare for tax purposes (which it would be, mixing business with bottles of imported London gin etc)

He was even taking jabs at other streamers thinking that they were taking donations illegally and not reporting them for tax purposes.

His fans begged and pleaded with him to get a second paypal account, and the mystery was solved to Phil as to how other streamers large and small were taking donations and seemed to be doing ok.

Heres one example, searching for paypal gives thousands of results narrow it down by searching for date around 2017 and before I think is when he didn't have it.

Pre-Stream Jan. 28, 2017: Overwatch Returns! Next Few Days Are Busy

This is gameplay of the Year of the Rooster expansion event for Overwatch on the PS4, with live commentary. Want to save some money with a new LootCrate subs...

www.youtube.com

Keep listening he goes on a good rant about it below:

Pre-Stream Jan. 24, 2017: RE7 Continues! A Wild Ride

This is my playthrough of Resident Evil 7: Biohazard on the PS4, with live commentary and facecam. Want to save some money with a new LootCrate subscription?...

www.youtube.com

 

[dsflfdsl23012]

He probably assumes that when servers or bartenders in restaurants makes tips and don't report them, it's what is generally done. Servers and bartenders are required to tax them legally, but no one does that and governments don't care about such small fry. Phil sees this happen and just assumes it's how the world works

Now it all makes sense. Dude asked tax guy if he should report his tips. Tax guy used the waiter analogy, most likely not understanding how online tipping works, and I doubt Phil told him he was getting 'thousands of dollars' in tips. Now Phil thinks he's off the hook and if anything happens he can blame it on the tax attorney.

 

[Exceptional Chimp]

Mr. Burnell, do you really expect me to believe your Brazzers account is business related, since you don't own a personal TV?

Yes ma'am, I not only stream games, I jack off on Twitch for my totally not children audience. At my age and with my sedentary lifestyle I need a little help rising to the occasion.

 

[ReentryPhantom]

Just thought of something. If he made the decision that he was insolvent in October, why did he decide to stop paying his CT condo mortgage in April? Wouldn't that be more of an indication that he decided it was actually at that point?

 

[Ex Cummunicated Sasser HD]

Just thought of something. If he made the decision that he was insolvent in October, why did he decide to stop paying his CT condo mortgage in April? Wouldn't that be more of an indication that he decided it was actually at that point?

Come on, we always know the answer to this here...

 

[BScCollateral]

I imagine after the meeting was over Rochelle put her head in her hands and asked herself what she did to deserve this dishonest piece of shit as a client.

I'm not going to criticize Rochelle for supporting her client; it's what she accepted money for and it is how the system works. I am, however, puzzled about her signing the initial filing.

It was so obviously suspicious and internally self-contradictory that people were calling it out based entirely on that. I wonder if she failed to do her homework, or if she called out its obvious problems to be rebuffed and ignored by DSP. Either way, she had opportunity to either have the problems fixed, or to bail out entirely.

Maybe she rubber-stamped it because DSP has a business degree, and she figured it couldn't be that bad...

 

[FamicomGorby]

Even if Phil was allowed to re-apply, I don't think it would make a difference. I don't think Phil has anything resembling the necessary bookkeeping to make an accurate bankruptcy application. His only hope would be that it'd be "accurate" enough that nobody could be bothered to look further into it.

If Dave were some rando shlub applying for bankruptcy he probably would have been able to skirt under the radar. Instead he's got an army of autists emailing everyone even remotely involved in the case gifs of him jacking off and detailed lists of how he's lying.

 

[Beetus Knuckles]

Potentially stupid question for @SoapQueen1, @Beetus Knuckles, @marlintan, and @AnOminous: the trustee asked for the transactions from both Paypal accounts for the last 6 months. Is that the 6 months prior to the bankruptcy filing (i.e., the 6 months he covered in the income and expenses report), or is it the 6 months prior to the 341 meeting? If it's the latter, what is she looking for? Hidden income? Frivolous spending like that of WWE Champions?

I think she, like many of us, see the amount of income he makes, the assets he claims to own, and wonders where the money went. She hopes his Paypal statements will answer that question. She probably wants the 6 month prior to the filing date because that’s the period included in his petition and schedules. She can trace the inflow and outflow of funds from there and request additional statements and documents as needed. In most cases, the answer ends up being the petitioner hid cash, attempted to transfer it to a family member, or pissed it away on drugs or gambling. I bet this will be the first case she’s seen where someone’s spent 10’s of thousands on sweaty wrasslin’ gacha.

In Phil’s narc mind, he sincerely believes he’s the smartest man in every room. That shit might work when your wife and audience are speds, but it doesn’t fly in the real world. He thought he could serve up a dose of pignosis on the trustee and waltz his way to Chapter 7. Nancy is digging deeper and we hope she uncovers something juicy. Unfortunaely, being stupid and stupid with money is not illegal. The bogus deductions might be what take him down. Too soon to tell right now.

 

[ZehnBoat]

He didn't plan it but he told Nancy that if he decided to make a 'garage sale' he could sell some of his 'business' tech he has

HAHAHHAAHAHAHAHHAHAHAHA
he would overprice everything, and as soon as someone tried to haggle he's get angry and tell them to leave
and the moment someone does something that makes him think there are tractors he will close shop

 

[strandedcastaway]

You have to report enough not to attract attention. If you claim to be a waiter who makes no tips they're going to nail your ass. They can do what is called "imputing income" and just slap you with huge fines and penalties and then throw you in prison if you don't pay. If Phil is doing that he's going to get caught and he's going to get fucked hard.

Right, and I bet almost none of those servers make $100K a year and own two homes while declaring bankruptcy because they can't pay their bills. Doesn't Phil realize that when he made enough money to get mortgages on two homes, his angle of saying writing off massive business expenses (so has no income) and claiming his income is just "untaxable" tips just screams "fraud"?

 

[Sir Wesley Tailpipe]

Right, and I bet almost none of those servers make $100K a year and own two homes while declaring bankruptcy because they can't pay their bills. Doesn't Phil realize that when he made enough money to get mortgages on two homes, his angle of saying writing off massive business expenses (so has no income) and claiming his income is just "untaxable" tips just screams "fraud"?

We all know the answer to that question!

 

[HeProteck]

What? Screw Nancy. Actually no if she comes over I will pickpocket her ass.

https://youtu.be/5jFizFutjh4?t=0h0m52s

 

[JamFlowMan]

Just thought of something. If he made the decision that he was insolvent in October, why did he decide to stop paying his CT condo mortgage in April? Wouldn't that be more of an indication that he decided it was actually at that point?

It was late last year when news of the foreclosure broke. If the bank just took the CT condo without wanting the difference Phil may have not filed for bankruptcy...at this time anyway.

It's semantic bullshit and gambling two of Phil's favorite things.

 

[Banned in 49 States]

I laughed my ass off when Nancy got done listing off all that equipment and asked 'Are you testifying that all those items are listed under business assets and are worth a total of $1,500 if you had to liquidate them?' and Phil said 'Yes! Uhhh. .if I had to liquidate them? Uhhh. .yes. That's how much they would go for at a garage sale or something, my computer is very old haha.'
I cracked up as soon as Phil said 'garage sale'. That's not how you valuate the worth of your property Phil, you don't shrug your shoulders and guesstimate what you think some schlub with a Saturday morning McDonald's shart in his pants would buy it for if you put it in your driveway you idiot! Look up the actual fucking price of that item.

From Amazon:

• Used PS4 Pro - $295
• Used PS4 launch model - $190
• Used PS3 60gb launch fully backwards compatible model - $230
• Used Xbox 360 - $116
• Used PS Vita - $122
• Used PS VR - $204
• Used Nintendo 3DS - $94
• Used Nintendo Wii - $90
• Used Nintendo Wii U - $94
• Used Nintendo Gamecube - $57
• Used Nintendo Switch - $450
• Sega Genesis Mini, no used version, new $112, Used by Pigroach - $100
• Used copy of Super Mario Sunshine - $70
• Total "business assets" so far - $2,112

and we haven't even scratched the surface of all the other shit he owns like: Physical copies of games that he might have, his at least 2 PCs, all his capture devices, his 10+ external HDs, his camera, his microphone, his headset, his USB Dock, his 4K TV, his dual PC monitors, his Guitar Hero controller, etc, etc, etc.

Prices on amazon and ebay means just as much as whatever price tag he puts on it since anyone can go there and put shit up.

But he was still lying anyway. There is no way he would sell anything at any less cost than what he paid for and if you add up all of his shit at the original MSRP it would far exceed $1500.

 

[Sir Wesley Tailpipe]

Prices on amazon and ebay means just as much as whatever price tag he puts on it since anyone can go there and put shit up.

But he was still lying anyway. There is no way he would sell anything at any less cost than what he paid for and if you add up all of his shit at the original MSRP it would far exceed $1500.

If the trustee forces liquidation, Phil will take whatever he is given, like it or not.

 

[Sphadilcastro]

his angle of saying writing off massive business expenses (so has no income) and claiming his income is just "untaxable" tips just screams "fraud"?

He has never claimed that tips aren't taxable.

 

[King Daddy Telomerase]

He probably assumes that when servers or bartenders in restaurants makes tips and don't report them, it's what is generally done. Servers and bartenders are required to tax them legally, but no one does that and governments don't care about such small fry. Phil sees this happen and just assumes it's how the world works

This is how Phil processes all his decisions concerning his actions.

Phil has shown that he has strong disdain for thots and his fellow female Twitch streamers (which he won't display now for obvious reasons). He sees that they're getting money for doing virtually nothing. Why can't Phil get that?

The servers at the restaurants he loves get big tips, which has to be because they're doing a great job. He's also heard that they don't pay taxes on it. Why can't Phil get that?

It's not that Phil is totally wrong with many of these thoughts, but the problem is your mind gets warped when you're a shut-in and only let autistic paypigs in your isolated bubble. Add in that Phil may be the most hated man on the Internet with paranoia issues I can't imagine, and here we are.

 

[BallBuster]

Can we take a moment to appreciate the fact that he legit mini ranted about fucking YouTube ad revenue to Nancy? Let that sink in for a minute.

 

[King Daddy Telomerase]

Can we take a moment to appreciate the fact that he legit mini ranted about fucking YouTube ad revenue to Nancy? Let that sink in for a minute.

I was hoping Phil would go into his spiel about how trolls ruined his massive Youtube income and it's all their and Tevin's fault. At least he did control himself on that one.