[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

[Iron Hamster]

What was the context of him reiterating that?

His overinflated confidence.

 

[PutridElephant]

His overinflated confidence.

I prefer willful ignorance.

 

[King Daddy Telomerase]

I prefer willful ignorance.

Same. It's why Phil is near 100% chill pahsitive streams now. He's desperately trying to distract himself from the reality he deep down knows is coming.

 

[detractorzer0]

Phil just said in the stream that he paid his Condo "dues" for the Connecticondo as well as his car payment and a tax payment. Why would he pay, what I assume to be HOA fees for a house he is letting go into foreclosing while also filing for bankruptcy???

 

[DiabeticSP]

Phil just said in the stream that he paid his Condo "dues" for the Connecticondo as well as his car payment and a tax payment. Why would he pay, what I assume to be HOA fees for a house he is letting go into foreclosing while also filing for bankruptcy???

He's on the line for the payments to the HOA until the house officially leaves his possession.

He doesn"t have to pay the mortgage because its getting taken away but the HOA is separate.

They can (and probably threatened to) sue him if he stopped paying.

 

[James Smith]

This is the last time I'm going to say this. They can not put a lien on the WAKhando unless A. Phil's case is dismissed with prejudice and B. they actually finished the foreclosure proceedings AND have a deficiency judgement.

You say that but you cite nothing to back it up. It would be insane for a law like that to actually exist.

 

[AnOminous]

He's on the line for the payments to the HOA until the house officially leaves his possession.

He doesn"t have to pay the mortgage because its getting taken away but the HOA is separate.

They can (and probably threatened to) sue him if he stopped paying.

HOA payments that come due after he declared bankruptcy are still bills he owes and aren't subject to discharge.

 

[James Smith]

California:
"It is important to understand that even if the court grants the creditor’s Motion for relief from the automatic stay, the creditor will not be allowed to collect any deficiency balance from you. In other words, the lender can foreclose on the collateral, but the amount that remains due and owing after the asset has been sold will be discharged in your bankruptcy filing."

What Should I do if I Receive a Motion for Relief from the Automatic Stay? - Fitzgerald & Campbell, APLC

When you file a bankruptcy case, the automatic stay immediately goes into effect and protects you from collection efforts by creditors. The stay protects you the entire time your Chapter ...

debtorprotectors.com

This still doesn't have an explanation of how this legal conclusion was reached.

EDIT:

In re Ferrante, 195 B.R. 990, 993 (Bankr. N.D.N.Y. 1996) (Although bank had relief from stay to foreclose its lien on real property, bank violated stay by recording deficiency judgment that created a postpetition lien on other property of the estate. “Nowhere in the Bank’s motion papers is there any request that the Court also allow it to create and perfect a separate lien on other property of the estate postpetition based on a deficiency judgment. By docketing its deficiency judgment, the Bank violated the automatic stay as to that other property. Actions taken in violation of the automatic stay are generally void.”)

In Re Ferrante, 195 B.R. 990 – CourtListener.com

Opinion for In Re Ferrante, 195 B.R. 990 — Brought to you by Free Law Project, a non-profit dedicated to creating high quality open legal information.

www.courtlistener.com

But this is Chapter 13.

 

[AnOminous]

California:
"It is important to understand that even if the court grants the creditor’s Motion for relief from the automatic stay, the creditor will not be allowed to collect any deficiency balance from you. In other words, the lender can foreclose on the collateral, but the amount that remains due and owing after the asset has been sold will be discharged in your bankruptcy filing."

What Should I do if I Receive a Motion for Relief from the Automatic Stay? - Fitzgerald & Campbell, APLC

When you file a bankruptcy case, the automatic stay immediately goes into effect and protects you from collection efforts by creditors. The stay protects you the entire time your Chapter ...

debtorprotectors.com

This still doesn't have an explanation of how this legal conclusion was reached.

The deficiency judgment is not a new debt, but a preexisting debt that has been reduced to a judgment, as the process for obtaining a judgment is an action on the note, i.e. an action on the preexisting debt. So it would be as dischargeable as any other unsecured debt. So if a chapter 7 bankruptcy is in effect, it will only be paid in the priority order and to the extent other similar such debts are paid by the liquidation of the assets.

Liens, however, are not automatically discharged, so if they can obtain a lien, that would be a secured interest. Those can also be dealt with in bankruptcy by a process called an avoidance, which similarly gets rid of them, but DSP hasn't paid for that so he'd have to pay extra for that. Bankruptcy mills are really notorious about fucking up and not doing these or even bothering to advise about it, but that's not the case here, as there isn't even a lien yet.

The issue is whether it's even possible to get a lien during the pendency of a bankruptcy, and it probably isn't possible during a Chapter 7 to convert an unsecured debt into a secured debt. Otherwise why would you bother declaring bankruptcy in the first place?

However, if the case is dismissed at any point, they can get that lien. And if the case is converted to Chapter 13, then they similarly also get paid even on an unsecured debt, and possibly can get a lien if they think it's worth doing.

In any event, though, the main thing they have to do is actually get that judgment in the first place. The stay language in the order only explicitly mentions obtaining possession of the property, though.

Foreclosure completes the process of obtaining complete possession of the property even if it leaves money owed on the note itself. This isn't a general lifting of the stay as to everything, but only a narrow window as to this particular property. Read narrowly, it doesn't include any actions on the note subsequent to obtaining possession of the property.

I suspect they will just barrel ahead anyway and if Phil doesn't like that he can squeal and maybe win it. If he wants to pay to oppose it.

As for another issue that keeps coming up, they can renegotiate other non-recourse remedies and contact him to do that.

Such agreements are non-recourse as @architect pointed out but there's an important caveat.

"Unless included in a reaffirmation agreement." I don't think the CT guys are interested in continuing to do business in any way with a pigroach, though. They're done with his shit.

From the fact they're going forward with all this and that they're even in state court (instead of just nonjudicially foreclosing), though, they're anticipating getting that deficiency judgment, either after a dismissal, conversion to Chapter 13, or some other development.

I think they may just go ahead in Connecticut and see if they can convince the judge there the lifting of the stay allows this. Without anyone arguing on Phil's side, he loses. If it doesn't they can come back to the bankruptcy court.

ETA: also I should note the language in the order is their own proposed order, so it may signify they don't believe they can pursue the deficiency judgment already anyway, or don't intend to do so immediately, perhaps waiting until after the sale, or even putting off the sale until some more favorable time.

 

[Surly Muppet]

incase anyone was wondering what he was on hold for this morning, he was trying to do something with his pre-discharge course, sign up or pay, or schedule it, idk

Phil did mention the timezone as being a factor (people were suggesting he get up early after he mentioned they were in another timezone and this was stupid blasphemy, of course). So it was likely at least one timezone East of him as they're apparently hours ahead and won't be open between streams. Based on this, it is possible it has something to do with calling CT. He also warned everyone to watch their bills and things, 'because some businesses will take this time to try to gouge you'.

I'm not sure what company he would be dealing with still in CT in any capacity, but that seems to fit what he was saying. I'm wondering if his condo management company tried to send him an abnormal bill for something, like repairs or maintenance. He mentioned in the second stream today that he just had to pay condo fees 'likely for the last time' because it will be 'off his hands' soon. It may have been related to that. Or maybe he was trying to get in touch with Midfirst, which is headquartered in OK, but may require him to call a CT location because of the property's location. Having to speak to, and be made to wait for, The Bank of Detractors or people expecting him to pay for the old condo would certainly get the pig heated.

Maybe he was trying to talk 'behind the scenes' to get the foreclosure sorted instead of a public hearing, with all of those nasty oaths and Nancies and things that get in the way of Phil's reality.

Lol, they aint gonna make him call them. They'll serve him papers the day after she moves out with half his shit while he's getting groceries (she'll be 'sick' and unable to go along on his day off).

From the way Phil has been talking about his 'crack of dawn' (8:30am) grocery runs, it sounds like he is doing them alone. Yet another descriptor of the Soulmaid ("We love doing menial errands together!") that has conspicuously fallen by the wayside when the chips are down...

 

[AnOminous]

Maybe he was trying to talk 'behind the scenes' to get the foreclosure sorted instead of a public hearing, with all of those nasty oaths and Nancies and things that get in the way of Phil's reality.

He could have actually gone through mediation. Midfirst asked for it and the goutpig just blew it off.

 

[Phalanx]

I would counter and say the case you cited is pre-2008 where the landscape has changed drastically. Also because its an asset case now and he is under investigation, the judge can do some really twisted things because as long as it is in line with the law, you are the judges bitch.

There is something I was wondering, if the case is dismissed. I think this case is going to go south once they look into assets. Once its dismissed if I read correctly it means Midfirst can go all cylinders on Dave right.

Also another thing if dismissed, he cannot file pretty much until 2021 now as its a 6 month exclusion. Also Soap like you said the case was Chapter 13 which is incredibly different. From what I have read Chap 13 is very aggressive but fair but Chap 7 asset cases are horrid, they will go ham on you.

The great thing about this though is Phil is using corona-chan as a shield because he stupidly thinks it delays so much. He is not going to realise how hard it is going to hit him yet.

 

[Meerkat Ink]

I feel like taking his wacondo away is low key doing him a favor. I want him to keep living there and trying to support his overblown lifestyle. Moving in a small apartment or renting a house will humiliate him but will be a financially sound decision.

He'll feel like a baller in his piggy mansion until the next inevitable financial crisis which will hit him even harder.

 

[beep_beep_goes_the_jeep]

I feel like taking his wacondo away is low key doing him a favor. I want him to keep living there and trying to support his overblown lifestyle. Moving in a small apartment or renting a house will humiliate him but will be a financially sound decision.

He'll feel like a baller in his piggy mansion until the next inevitable financial crisis which will hit him even harder.

this can go either way. if he didnt have kat living there i would agree but i feel like if his debt is blown away she will make the effort to ensure that he doesnt do the same things panda allowed him to do. im also pretty sure he blew tons and tons of money in a short period of time because he knew he was filing so he prob thought "hey the debts goin away anyway so y not but what i want". thats one reason i was happy about the court askin for 6 months of his statements to verify this. unfortunately based on the video it sounds like she didnt want to question about tons of in game purchases and let him dictate that they r valid when we all know they arent. he also lied about the psp and switch and everything else bein biz only when on streams he said kat was playin persona on this or paladins on that which clearly shows that its not a biz only item.

i would prefer that he loses everything.....leave nothin behind. make him get a real job that takes real effort....thats when u find out if kat loves him or if shes just there for the money and house he promised her.

 

[James Smith]

The issue is whether it's even possible to get a lien during the pendency of a bankruptcy, and it probably isn't possible during a Chapter 7 to convert an unsecured debt into a secured debt. Otherwise why would you bother declaring bankruptcy in the first place?

This is a good question. This blog suggests you can't convert once the bankruptcy has been filed but doesn't specify that it includes creditors who've been relieved of stay obligations.

"As soon as there is a lien, a debt which could otherwise be discharged as an unsecured debt may have to be paid in full or in part in order to get a release of the judgment lien on your real estate or other assets."

"Filing either a Chapter 7 or 13 case on a debt that has not yet turned into a judgment will prevent that from happening. Even if a lawsuit has been filed the judgment can be prevented if the bankruptcy is filed quickly enough.

If the debt is the kind that can be discharged in a Chapter 7 case—which includes most unsecured debts—then that will take care of the debt."

Stop a Creditor from Turning its Unsecured Debt into a Secured One • Wasson & Thornhill

A creditor creates advantages for itself & against you when it turns its debt into a secured one. Chapter 13 prevents that from happening.

wassonthornhill.com

 

[MeganDodgedABullet]

I feel like taking his wacondo away is low key doing him a favor. I want him to keep living there and trying to support his overblown lifestyle. Moving in a small apartment or renting a house will humiliate him but will be a financially sound decision.

He'll feel like a baller in his piggy mansion until the next inevitable financial crisis which will hit him even harder.

True, he would fuck up again eventually. But I can't take being blue-balled again, I need to see him traumatised by losing his mong mansion, preferably with a line of tractors jeering as he moves out to some tiny shithole ( or even better Moaahms basement, which is his spiritual home).

 

[gh0stzero]

I feel like taking his wacondo away is low key doing him a favor. I want him to keep living there and trying to support his overblown lifestyle. Moving in a small apartment or renting a house will humiliate him but will be a financially sound decision.

He'll feel like a baller in his piggy mansion until the next inevitable financial crisis which will hit him even harder.

Any landlord or property letting agency is going to want to perform a credit check. Phil's fucked.

 

[BrokeACKMountain]

i would prefer that he loses everything.....leave nothin behind. make him get a real job that takes real effort....thats when u find out if kat loves him or if shes just there for the money and house he promised her.

As goubtful as I am that he'll ever reenter the jahb market, he's definitely gonna be fighting an uphill battle.

Not only does he have no marketable skills, a worthless degree that he hasn't used, questionable hygiene, odd mannerisms, a 12 year black hole in his resume (or legacy, as he calls it), possible mental re.tardation (assuming he attends a skills based interview), disdain for those around him, evidence of him refusing to work in a team, refusal to accept blame, childish sense of humor, racism, lack of worth ethic, an army of detractors who will probably get him fired, refusal to accept valid criticism, refusal to change, being perpetually in debt to the government because he doesnt know how taxes work, and a million and one other examples of how not to run a business...

He's now almost guaranteed to fail any kind of background check due to his finances (assuming the rest of those points are ignored). If I were vetting Phil based solely on the evidence uncovered thus far, I'd have some serious concerns that he doesn't have an ulterior motive, or is susceptible to being blackmailed. And that's not even including any potential malfeasance they may possibly investage.

You cant spell investigation without vest.

 

[Prince Lotor]

Is Phil even aware that his bankruptcy has been converted to an asset case?

 

[BrokeACKMountain]

Is Phil even aware that his bankruptcy has been converted to an asset case?

Depends on whether they emailed or phoned him.