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

[marlintan]

imagine being in a graveyard, when you stumble on a funeral
everyone is wearing sonic hats and shitty vests
as the casket is lowered, some shitty music plays with a guy yelling ALL EMPLOYEES over and over
and everyone t-poses and wobbles in place
then after the music cuts off everyone leans forward and ACK ACK ACKs

This sounds like the best timeline to me.

 

[actually]

That makes a lot of sense, considering they don't show up anywhere else. As you said, it's completely ridiculous, to claim all of his credit lines as business expenses - if that's what he's been doing.

Also he hasn't been paying those for how long? He should have a bunch of cash on hand now.

It's especially ridiculous given that he listed all his credit card debts as "consumer debt" and none as business debts.

 

[DiabeticSP]

Just because Nancy didnt ask Phil specifically about certain things doesnt mean she believes him.

She doesn't want the 341 to go for hours (considering these usually take sub ten minutes).

She had a list of lies she wanted clarified or put on the record and probably a list of lies she doesnt need to ask about.

Phil claiming he spends 5k on personal expenses is probably bogus enough she can look at his bank statements to deduce most of his fuckery and ask about that later.

'How the hell did two people spend 3 times the average grocery expenses of a family of four' isnt a useful avenue of questioning.

The fact she can see that he has business and personal expenses all funneling in and out of one bank account is already a massive red flag.

Being unable to answer 'how do you decide whats business and whats personal' screwed him out the gate. Even boomers use Facebook and shit.

 

[Iron Hamster]

Once she has the Paypal statements and income tax filings, she'll have the info she needs.

 

[MoonRocker]

This 341 Meeting was the opportunity for Dark to clarify his case and present a valid case as to why he’s filing for bankruptcy.

From the onset, it was filled with inaccuracies and head scratching amounts that simply made no sense. Apparently he created a customized P&L statement to justify his net income for the last 6 months he filed and failed to provide clarity as the column headings made no sense.

He didn’t explain what his PayPal accounts were for but instead gave a pigspeak explanation of what he thought PayPal was.

He constantly dodged questions by not answering them accurately.

Everyone came out of that meeting more confused and less clear about this filing. That’s why Nancy asked for the last 6 months of his PayPal accounts: his numbers make no sense and everyone can smell the bullshit.

In typical Phil fashion, he preempted almost all important answers with my “tax attorney” (which, by the way, just call him a fucking CPA like everyone else Dark) so he could admonish himself of potential faults if he were to get into trouble for filing falsified information. Just like his old CPA, Dark is taking the “but someone told me that was okay” route in case Nancy comes back with lube and a strap-on in the form of follow-up questions.

DSP is not going to get what he wants and he should expect the worst.

 

[Sphadilcastro]

Maybe I'm missing something, but unless Phil failed to include an income stream in the numbers he filed on the 122a form, I don't think six months of his PayPal statements will add anything to the case. If she's looking for insight into where he's spending his money his bank statements would have been more pertinent since that's when all the money goes before its spent.

 

[King Daddy Telomerase]

I think I'm going to go to July 2019 and see how much I can come up with in business expenses based on the personal expenses he spells out. I'll make a post later tonight laying it out. Let's see just how full of shit he is.

Most of us have been trying to figure ANY possible way he spent $9k in July 2019 since this came out on 31 January. We can't do it, even if we add up every possible personal expense.

 

[d8d0]

Maybe I'm missing something, but unless Phil failed to include an income stream in the numbers he filed on the 122a form, I don't think six months of his PayPal statements will add anything to the case. If she's looking for insight into where he's spending his money his bank statements would have been more pertinent since that's when all the money goes before its spent.

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100$ in Paypal, 100$ out to bank account
or maybe what happens is
100$ in to Paypal, 10$ on gift card or purchase from used the paypal account, 90$ out to bank account

 

[actually]

Most of us have been trying to figure ANY possible way he spent $9k in July 2019 since this came out on 31 January. We can't do it, even if we add up every possible personal expense.

Yeah, I'm one of them, but I want to slightly more formally try it.

 

[Sphadilcastro]

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100$ in Paypal, 100$ out to bank account
or maybe what happens is
100$ in to Paypal, 10$ on gift card or purchase from used the paypal account, 90$ out to bank account

During the 341 meeting the trustee noted that twitch payments were immediately withdrawn into his bank account. Perhaps his tips paypal account is where his play money comes from. We know he initially didn't include that account in the filing. Maybe he left it out so that he could provide a month with no apple transactions.

 

[SaidNoOneEver]

Has anyone figured out whose Adsense account he uses and the route that money takes to get to him?

Maybe I'm missing something, but unless Phil failed to include an income stream in the numbers he filed on the 122a form, I don't think six months of his PayPal statements will add anything to the case. If she's looking for insight into where he's spending his money his bank statements would have been more pertinent since that's when all the money goes before its spent.

Not necessarily. He can spend directly from the Paypal accounts without transferring that money to a bank first. Paypal even has ATM/debit cards of their own.

 

[King Daddy Telomerase]

Perhaps his tips paypal account is where his play money comes from. We know he initially didn't include that account in the filing. Maybe he left it out so that he could provide a month with no apple transactions.

His play money has nowhere else to come from. And he admitted that he puts money on debit cards. Those records are going to show very heavy debit cards. It's why I think Phil actually has stopped using credit, he's getting $10k/month put on that card.

 

[N0thingICanDo]

Rekeita's chat raised a really good question:

If Phil owns ZERO personal electronics and ALL of his household electronics are EXCLUSIVELY FOR BUSINESS

then what does he need the "non-business related" WWE network expense for and on what device does he watch it on??????????????????????

 

[myone]

then what does he need the "non-business related" WWE network expense for and on what device does he watch it on??????????????????????

Obviously that's why Nancy asked the question. She doesn't need Phil to explain to her what WWE Network is, I'm sure she knows how to use google. She wanted him on record, stating that he owns at least some electronics for personal use.

 

[Iron Hamster]

Maybe I'm missing something, but unless Phil failed to include an income stream in the numbers he filed on the 122a form, I don't think six months of his PayPal statements will add anything to the case. If she's looking for insight into where he's spending his money his bank statements would have been more pertinent since that's when all the money goes before its spent.

He listed (finally) 2 accounts. One with $0 and one with around $650. I think it may be safe to assume the $650 is his tip account. Lately, he gets that much in just 3-4 days (cowboy hat included!) but conservatively in one week. That leaves 3 weeks not accounted for. Wait til she gets the 6 months worth.

 

[AnOminous]

Because he's a windbag who loves to just string words together to make himself feel like a big boy. The call cut out slightly so what he said when asked about tips was "to my understanding, as per MY TAX ATTORNEY, they are not exempt" but the call cut out so what's on the recording is "to my understanding, as per MY TAX ATTORNEY, they are n- -xempt", he then went on to illustrate that his tips are considered regular income like what a waiter earns, he just added a bunch of pre-stream nonsense because he was sweating bullets at that point from all the questions.

A lot of the dumb, pointless shit he said is the kind of stuff he says on pre-streams to mollify his paypigs who also don't know jack shit and will be fooled by his blathering. It means nothing to Nancy and will mean nothing to the court. His sad attempts to appear to be adult just come across as pathetic and evasive.

Just because Nancy didnt ask Phil specifically about certain things doesnt mean she believes him.

She doesn't want the 341 to go for hours (considering these usually take sub ten minutes).

She had a list of lies she wanted clarified or put on the record and probably a list of lies she doesnt need to ask about.

She was probably just getting what she needed for whatever motion is coming next. I'm sure she'll have a lot more questions if the case moves forward. If she's filing a motion to dismiss, though, or convert to a Chapter 13, she doesn't need to know everything, just enough to establish that Chapter 7 isn't an appropriate vehicle for whatever pigroach is trying to do, i.e. evade his debts that he could pay if he tightened his belt a bit and quit being a giant pussy.

 

[Beetus Knuckles]

Does anyone know how big Phil’s office is so we could attempt to figure how much home office expenses he could rightfully claim? If your house is 1000 square feet and you used a 100 square foot bedroom exclusively as a home office, the you could claim 10% of your mortgage and utilities as business expenses. Even with a dedicated landline, cellphone plan, and business interest added in, there’s no way in hell Phil is spending anywhere near his claimed expenses. Gotta be gacha. That’s all it could be. Please let the PayPal statements be extra juicy...

 

[King Daddy Telomerase]

It can't even be gacha because Phil's not close to spending $3k+ per month.

 

[PetrifiedTom]

Rekeita's chat raised a really good question:

If Phil owns ZERO personal electronics and ALL of his household electronics are EXCLUSIVELY FOR BUSINESS

then what does he need the "non-business related" WWE network expense for and on what device does he watch it on??????????????????????


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Didn't he had some content regarding WWE on 2nd channel? It's not that huge slip and he can easily defend this subscription simply by saying it was for content production with dates of air. In his place I would be rather concerned of spending for WWE game.

 

[actually]

Does anyone know how big Phil’s office is so we could attempt to figure how much home office expenses he could rightfully claim? If your house is 1000 square feet and you used a 100 square foot bedroom exclusively as a home office, the you could claim 10% of your mortgage and utilities as business expenses. Even with a dedicated landline, cellphone plan, and business interest added in, there’s no way in hell Phil is spending anywhere near his claimed expenses. Gotta be gacha. That’s all it could be. Please let the PayPal statements be extra juicy...

Whole place is 1610 sq. ft. I would venture a guess that maybe 150-200 sq. ft. would be a generous estimate of the office space.

Didn't he had some content regarding WWE on 2nd channel? It's not that huge slip and he can easily defend this subscription simply by saying it was for content production with dates of air. In his place I would be rather concerned of spending for WWE game.

Doesn't matter. Unless he was regularly putting that "content" out, it's not solely for business and can't be claimed. The trustee was also asking (most likely) to establish that Phil was lying about having no personal electronics anywhere in his house.