[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

[Dumpster dived waifu]

I think FredFuchs had originally talked about the idea that their was a secret paypal or bank account that noone was aware of. He talked about it whenever people mentioned how DSP may have used Pandalee's adsense to bypass the adsense block.

Whether or not its true is only known by DSP himself.

Well, here's hoping he gives the court enough reason to go digging to find out if its true or not.

 

[Balr0g]

Well, here's hoping he gives the court enough reason to go digging to find out if its true or not.

Wouldn't the court find out once they see transfers from an hitherto unknown papyal account on his own bank account? Assuming he keeps immdietaly transferring the money from his papyl accounts to his bank.

 

[Dumpster dived waifu]

Wouldn't the court find out once they see transfers from an hitherto unknown papyal account on his own bank account? Assuming he keeps immdietaly transferring the money from his papyl accounts to his bank.

Well, so far haven't they just asked about the last 6 months of transactions? If those transactions include sending money to another PayPal account, they could just ignore it and leave it at "business expense dood, you can't touch that". Pigroach luck knows no limit.

 

[c-beams]

Well, so far haven't they just asked about the last 6 months of transactions? If those transactions include sending money to another PayPal account, they could just ignore it and leave it at "business expense dood, you can't touch that". Pigroach luck knows no limit.

They won't do that. Asking for 6 months of finances was a key tell in the trustee's strategy in my opinion. Nancy said something to the effect of "she normally only asks for one month" of transaction history.

You know what requires 6 months of financial history?

The chapter 7 means test. It's mentioned in the first post of this thread.

I believe Nancy is going to take Phil's numbers and put them through the means test to see if Phil really qualifies for Chapter 7. When she does, I don't have any doubt that he won't. Phil earns substantially more than what the means test defines as the "average" income. That's going to be a red flag. His commingling of "business assets" with his "personal accounts" is also going to be a red flag. It's fine to purchase business assets with your own money. But you need to keep documentation that you've done so. Phil is not the kind of guy that keeps documentation.

 

[Landgrave Deryk]

the evolution of Daves money problems in three videos

PigPigGo

Web site created using create-react-app

pigpiggo.net

 

[Self-Aware-Neckbeard]

They won't do that. Asking for 6 months of finances was a key tell in the trustee's strategy in my opinion. Nancy said something to the effect of "she normally only asks for one month" of transaction history.

You know what requires 6 months of financial history?

The chapter 7 means test. It's mentioned in the first post of this thread.

I believe Nancy is going to take Phil's numbers and put them through the means test to see if Phil really qualifies for Chapter 7. When she does, I don't have any doubt that he won't. Phil earns substantially more than what the means test defines as the "average" income. That's going to be a red flag. His commingling of "business assets" with his "personal accounts" is also going to be a red flag. It's fine to purchase business assets with your own money. But you need to keep documentation that you've done so. Phil is not the kind of guy that keeps documentation.

Supposing we were talking about someone smarter and less public than Phil, could there be a way to get away with chapter 7, supposing that hypothetical person's finances were the same as Philly's?

 

[Sir Wesley Tailpipe]

Supposing we were talking about someone smarter and less public than Phil, could there be a way to get away with chapter 7, supposing that hypothetical person's finances were the same as Philly's?

Nope. He clearly had the means to pay his debts. His case is one of clear cut mismanagement, nothing out of Phil’s control caused him to be in the position he is in.

 

[Chan the Wizard]

He’s the pig roach gout king so I don’t have high hopes but the bankruptcy just being dismissed might lead to a live-streaming meltdown so maybe the gods will smile on the tractors.

 

[DiabeticSP]

Supposing we were talking about someone smarter and less public than Phil, could there be a way to get away with chapter 7, supposing that hypothetical person's finances were the same as Philly's?

There's always a CHANCE you luck out. Phil could absolutely still get a chapter 7 due to any number of things such as Nancy being too busy with more important things to really drill down.

 

[Crisis Acting Instructor]

Supposing we were talking about someone smarter and less public than Phil, could there be a way to get away with chapter 7, supposing that hypothetical person's finances were the same as Philly's?

I'm not an expert, but hypothetically someone with similar finances would have separated their Business and Personal accounts a long time ago, at least whenever they set up an LLC or something, and kept meticulous accounting records. They would then need to be able to itemize and prove that they have astronomical business expenses to bring them into the Chapter 7 range (paid staff w/benefits, constant investments in other projects or properties, etc). They would also need to actually know what they're talking about and not show up to the 341 like Phil did, being confused by simple questions and ranting about how PayPal is an "online currency system" and how you can tip him like a waiter if you like his content.

 

[King Daddy Telomerase]

There's always a CHANCE you luck out. Phil could absolutely still get a chapter 7 due to any number of things such as Nancy being too busy with more important things to really drill down.

We're at the point where Phil can't really luck out, except if some paypig gives him $200k+ (which I can't say is impossible). It's purely putting in numbers to see where we go from here. The question is if the trustee and court wouldn't just rubber stamp it, and the detractors have won that.

 

[Freshtodeath]

After this is overwith if phil ever wants to buy a new house they will def ask for 20-25 percent down payment. I can't imagine what percent he put down on Wakanda.

 

[Chilson]

After this is overwith if phil ever wants to buy a new house they will def ask for 20-25 percent down payment. I can't imagine what percent he put down on Wakanda.

After this is over with Phil won't be able to buy a house without astronomical mortgage requirements/restrictions he can't/won't meet. Hell, he will be lucky to get into any half decent rental community.

 

[Nigel of Ukip]

I think FredFuchs had originally talked about the idea that their was a secret paypal or bank account that noone was aware of. He talked about it whenever people mentioned how DSP may have used Pandalee's adsense to bypass the adsense block.

Whether or not its true is only known by DSP himself.

Out of curiosity if you don't mind, what's your best guess?

A 3rd PayPal was found, it seems possible some fuckery is afoot. Phil is scummy so I don't think we should put anything past him.

 

[architect]

I can't imagine what percent he put down on Wakanda.

5%, which was probably the minimum downpayment for a non-FHA loan. He also must have had an impeccable FICO score back in 2014.

 

[actually]

Out of curiosity if you don't mind, what's your best guess?

A 3rd PayPal was found, it seems possible some fuckery is afoot. Phil is scummy so I don't think we should put anything past him.

Not sure what that 3rd paypal would be for, in terms of a major financial source. It's not tied to his Twitch tips, and it's probably not tied to Youtube. There's also the possibility that Nancy will go full tilt on him and ask for bank statements from everywhere, in which case she would almost certainly find anything unusual happening with a 3rd paypal account.

5%, which was probably the minimum downpayment for a non-FHA loan. He also must have had an impeccable FICO score back in 2014.

Makes sense. That would have been before he ran up most/all of his credit card debt.

 

[rippersnapper]

When was the 3rd Paypal found?

 

[DiabeticSP]

When was the 3rd Paypal found?

There isn't a third paypal that anyone knows of.

He has two which is consistent with everything else he's ever filed and tracks out to his usual tips/etc.


I don't understand why people are convinced he has some super secret paypal where he stashes his mystery money.

 

[tzgnilki]

There isn't a third paypal that anyone knows of.

He has two which is consistent with everything else he's ever filed and tracks out to his usual tips/etc.


I don't understand why people are convinced he has some super secret paypal where he stashes his mystery money.

he has another email attached to another paypal

whether or not it's active is the question

 

[actually]

@AnOminous, @SoapQueen1, @Beetus Knuckles, is it a little strange that the trustee's report hasn't been filed yet? Or is that indicative of a deeper dive taking longer?