[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

[N0thingICanDo]

Um it's.... Tevin's fault?

Well before the white lady accused Tevin of poisoning her she yelled:

"Why am i poisoned? WHY AM I TOXIC?????"

So you be the judge......

 

[wahkando]

Are you kidding or are you literally fucking exceptional? The trustee for any bankruptcy is the literal monarch of EVERY bankruptcy in an entire district of the United States. It's one of those positions you only get because literally the FUCKING PRESIDENT appointed you to it. How fucking dumb are you?

Lol take your blood pressure medication and relax. I didn't realize exactly how it worked because I'm not American and believe it or not I hadn't looked up her house's estimated value.

But I admitted I was wrahng doods. Take a chill pill

 

[NotreallyPutin]

recordings of Nancy roasting other Phils or something like that

Are you trying to make Nancy-posting a thing?

I think the change to an asset case is going to make Dave lose his WA condo. I really do think that we'll see Dave streaming from his old room. Holy shit think about it.

He can make vlogging his mom finally getting him that Wolverine toy a tips goal.

 

[Self-Aware-Neckbeard]

Are you trying to make Nancy-posting a thing?

I mean, would it be terrible to laugh at other potential retardos at courts?

 

[QuadDamage]

i dont really get the 125k$ exempt.
why are people who are bankrupt allowed to keep 125k$ and not pay their debt?
i mean i would understand if they can keep maybe ~20k$, but keeping 125k$ and you creditors can get fucked?

The system, for all of it's very real flaws, assumes that people are acting in good faith (or in something reasonably approaching good faith).

If bankruptcy immediately tore away everything you've ever touched and ejected you onto the streets as a permanently homeless outcast branded forever as someone who no one should do business with, no sane person would ever file for bankruptcy. But declaring bankruptcy isn't meant to be punitive to the debtor, it's meant to be an honest declaration that the debtor made a serious mistake somewhere in their finances/planning, and that they see now that it's only going to get worse. So they're calling the game early so everyone involved can at least pick up whatever pieces are still involved and move forward. It's meant to be beneficial for everyone involved, assuming that everyone is acting on the previously mentioned good faith.

That's why bankruptcy has exemptions in the first place. You might have burned a creditor or two, but you weren't acting with hostile intent. You wanted to make or do or build something and you messed up. The idea is that now you're going to strip your life down, but in a way that will still make you a productive member of society who will continue to contribute whatever value you have in your now uncertain future. Because most people aren't like DSP. Most people are trying to be at least somewhat productive. Most people are honestly pained by feeling unproductive and try to find anything they can do to make that feeling of uselessness go away.
So even though you've admitted you're bankrupt, even though you totally messed up, you get to keep X value in clothing just so you can still get dressed in the morning. You get to keep X value in transportation just so you can get to the next job you find. You get to keep X value of tools you own just so you can keep being useful the way you try to be. And you get to keep X amount of personal belongings just so that you don't have to auction off your dead spouse's wedding ring or your only child's favorite toy or whatever.

And you get to keep X value in a home you can live in just so you and your family are not literally homeless. Now in this case, X is 125k and 125k either sounds like a whole helluva lot or is terrifyingly little depending on where you live, because that's how sweeping legal generalizations work out. The laws on the books can never factor in everything, they're just there to give everyone a level playing field. But 125k what the system thinks is a level playing field for just keep your family out of the rain and then assumes you're still worth more if you have a roof than if you don't.

Is that number exploitable? Yeah sure. Every number in every system is. If you have malice in your heart and intend to game things you're going to cause some hiccups. But most people aren't like DSP. Most people honestly intend to do their best and are truly sad when they fail. Most people are acting in good faith. Most people can live a decent productive life and still pay a little to provide the buffer for dealing with useless leeches like Phil. So a good system errs on the side of cushioning honest mistakes even if it means a few assholes get away without paying rent. It's better to let a pigroach live than to make an innocent child homeless.

 

[Kosher Dill]

I think the change to an asset case is going to make Dave lose his WA condo. I really do think that we'll see Dave streaming from his old room. Holy shit think about it.

My dream scenario is that Pig loses his house and buys a new cheap place out in the sticks or even in "flyover country". I'd love to hear him bitching about how there's no Whole Foods to buy his tendies at and he now has to mix with the plebs at Super Walmart.
"So I needed a new black t-shirt and they don't have a Neiman Mar-- they don't have the place I got my original one at, so I had to go to Target. Oh my gaaaaaahd."

 

[King Daddy Telomerase]

My dream scenario is that he's streaming at his Mommy's house and cries actual salty tears finally realizing that the detractors won.

 

[Providence Backing_21]

That's why bankruptcy has exemptions in the first place. You might have burned a creditor or two, but you weren't acting with hostile intent. You wanted to make or do or build something and you messed up. The idea is that now you're going to strip your life down, but in a way that will still make you a productive member of society who will continue to contribute whatever value you have in your now uncertain future.

Yes this is important, it's to make sure a member of society continues to be productive. The government wants it's taxes and if it becomes chapter 13 they want you to continue making money. The aim is a fresh start not to throw them in debtors prison.

Phil is definitely the exception to this he's really skirting a line with prison. With this amount of lying/perjury and possible fraud. Really all around a terrible start for a bankruptcy.
I would never play such a dangerous game.

 

[hector85]

Yes this is important, it's to make sure a member of society continues to be productive. The government wants it's taxes and if it becomes chapter 13 they want you to continue making money. The aim is a fresh start not to throw them in debtors prison.

Phil is definitely the exception to this he's really skirting a line with prison. With this amount of lying/perjury and possible fraud. Really all around a terrible start for a bankruptcy.
I would never play such a dangerous game.

is prison really the worst outcome for piggy? he gets a roof his head, 3 squares, the opportunity to make some money, and sweet lovin' from dae'shawn. I'd think it'd definitely be better than being forced to panhandle daily while pretendingto love the job, eating frozen meals cooked by chef mike, and no underwear time with a wife who has her own bed.

 

[Shambler]

i can't imagine what phil was thinking when he thought he could game the system.
the absolute gunt on phil

 

[ReentryPhantom]

How does one have $130,000 in credit card debt, but no personal possessions to speak of?

 

[MarilynMonster]

How does one have $130,000 in credit card debt, but no personal possessions to speak of?

One of the two decent questions ctibank dumbass asked was "do you still have any of the goods you purchased with credit" or something close to that, and dave's reply was something like "Uhhh, No, I would have bought groceries and stuff like that with my CCs, okay." He expects the trustee to believe he spent 130k on food and other consumables and he has zero to show for it. Which is sadly for him true, as it seems he spent it on fucking mobile games.

 

[James Smith]

How does one have $130,000 in credit card debt, but no personal possessions to speak of?

He spent it on groceries obviously. Ignore the fact that he claims to be spending $600 per month on groceries and that his debt began racking up 5 years ago. If you don't you'll realize he's missing $94K.

 

[NotreallyPutin]

How does one have $130,000 in credit card debt, but no personal possessions to speak of?

A part of it could be paying for trips and stuff for other people. He did go on staycations, buy Leanna a bunch of soap stuff and we really don't know what he bought Khat.

 

[BScCollateral]

I didn't realize exactly how it worked because I'm not American...

Then don't make up stupid shit.

 

[PedoPhil]

Do we have any verdict yet from the trustee ?

 

[UncleTusky]

My personal theory is that Nancy can't wrap her head around what's going on here. Let's assume our detective work is right and some giant chunk of his "business expenses" + CC debt is gacha games. The inflated expenses + high income + few declared assets screams "fraud", but all the furniture/housewares/toys Phil left off are probably worth somewhere in the low five figures combined. She's probably dealt with addicts and scammers in her court before, but "WWE Gacha addiction" and "made it look like fraud so he wouldn't have to cop to being an addict" probably are new to her.

Do we have any verdict yet from the trustee ?

No and there may not be public updates until either the judge rules or a creditor requests a 2004 hearing. The trustee's report was issued on 3-31 and probably won't be released to the public (I looked up other cases and the trustee's report was not on PACER there either). Assuming MrHuth is telling us everything (not a dig at him I'm just paranoid after "mystery woman") my guess is that she's pursuing either Chapter 7 asset case or Chapter 13 conversion: The forms he released all mention rule 3001 (c)(3)(A) which deals with creditors' claims against a bankruptcy estate. IANAL but I can't see that being relevant if she's pursuing either Chapter 7 no asset (which gives unsecured creditors nothing) or an outright dismissal.

@AnOminous Not sure if I understand this wrong or got the wrong idea. When the trustee does an asset case. They are looking to obtain property of some value. That's non-exempt to be able to sell it? So wouldn't that really be stuff in his house that he does or doesn't want repo appraisal, the car and the condo? Is their anything else he has of value.

Everything is fair game in an asset case unless it is specifically claimed as exempt. The dolls might only be worth $5 each, but because he did not claim them on the initial filing they are not protected and the trustee can snatch them up. Ditto the Wall of DVDs, second TV, furniture, clothes, the vidya "art", maybe even kitchen utensils, you get the idea.

@AnOminous I'm guessing (hoping) the answer is "no" but can he amend his original filings to include other exempt assets?

 

[Beetus Knuckles]

Phil’s whole tip pigsplanation during the 341 was, in a moment of clarity when interacting with non-autists, him realizing how ridiculous it sounds that a 38 year old man is tipped by exceptional individuals for playing video games (badly, I might add). I can hardly believe a guy as shitty as Phil makes six figures plus streaming vidya “live and on demand.” Fools and their money I guess...

 

[break these cuffs]

Do we have any verdict yet from the trustee ?

I do. PM me $1000 in Google Play Card codes and I'll send it to you.

 

[Freshtodeath]

So Kat is Carole baskins? Will she put Cherry pits in DSP's kickstart energy drink?