[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

[kiwirevolving]

Wouldn't he pretty much get off easy if his case was dismissed?

That means he could keep his PayPal where he gets all his tips off the record and not get confronted by it

 

[FamicomGorby]

Wouldn't he pretty much get off easy if his case was dismissed?

That means he could keep his PayPal where he gets all his tips off the record and not get confronted by it

Sure we wouldn't have that but if his bankruptcy got dismissed then all this creditors would be able to sue him to get him to pay what he owes.

 

[wahkando]

Wouldn't he pretty much get off easy if his case was dismissed?

That means he could keep his PayPal where he gets all his tips off the record and not get confronted by it

I mean, no? He'd still be 500k in debt.

 

[BrokeACKMountain]

I mean, no? He'd still be 500k in debt.

Not to mention the ego hit that comes along with the detractors being right all along

 

[tzgnilki]

Wouldn't he pretty much get off easy if his case was dismissed?

That means he could keep his PayPal where he gets all his tips off the record and not get confronted by it

he would be sued

 

[DiabeticSP]

There is this prevailing assumption about renting an apartment I find particularly annoying. While leasing offices will run a credit and background check on you, unless your some crazy felon or something the only thing they find disqualifying is if you have evictions on your record, beyond that the ONLY thing they give a shit about is that you can prove your monthly income is 3x the rent. If people with bad credit couldn't rent an apartment half the country would be homeless. People live in apartments because they have bad credit. If they had good credit they'd get a home loan. I could afford dave's mortgage payment, it's only $400 more than the rent on my 935 sq ft apartment. If I could afford dave's mortgage why do I live in an apartment you ask? Because I don't have good credit and I don't make 100k a year. dave's BK/bad credit will not prevent him from leasing an apartment, even a nice one.

On a side note, where I live dave could have bought a veritable mansion for what he paid for the wacondo, and I'm in a no income tax state.

Phil's issues is always that he's a moron.

He'll rent an overly expensive apartment or a total shithole.

 

[LiquidCancer]

I think a big part of why he finally felt safe to do the bankruptcy at all is because he has Kat so even if his credit score is screwed in the future he thinks he can just start getting credit cards in her name and do the exact same thing all over again.

 

[Schrödinger's Kat]

Now here is where it gets iffy to me.... if the money he is making right now is his to keep, then the only explination that he is still playing the game is his addiciton to not only gacha gambling but i think the even bigger addiction is to ego/clout he is getting. Its likely he loves the clout in the clan so much its giving him the ego boost his fragile ass needs.

If I had to guess, Phil probably knows he's going into Chapter 13, so he thinks by continuing to inflate his expenses, he'll owe less to the creditors. And Phil likes to spend money so he's okay with that.

This goes back to his bankruptcy reveal, when he said it could go either way (Chapter 7 or Chapter 13). At the point of his reveal he should have known which way it would go. This just tells me he knew he didn't really qualify for Chapter 7, but he was going to try and hope it would get rubber-stamped through. But if it didn't, he'd just keep spending money to inflate his expenses so his Chapter 13 payment plan would be small.

Not really a bad plan, except that no trustee in their right mind would allow this, because his game purchases are tax-deductible but are not operating expenses. If it was this easy to push yourself from Chapter 13 to Chapter 7, or reduce your Chapter 13 payments, why wouldn't everyone just do it?

Well it doesn't work that way. There is a reason why the 122A form specifically says "ordinary and necessary operating expenses", so that people like Phil can't go out and spend money on whatever they want (games, microtransactions), call it a "business expense", and qualify for Chapter 7. Its not like every idiot running their own business and filing for bankruptcy hasn't tried this before.

Or, maybe Phil is just completely addicted to the game to the point where he couldn't care less what happens to him as long as he maintains his standings.

 

[UncleTusky]

I think a big part of why he finally felt safe to do the bankruptcy at all is because he has Kat so even if his credit score is screwed in the future he thinks he can just start getting credit cards in her name and do the exact same thing all over again.

Phil's in for an extremely rude awakening if he thinks that's how it works. If they ask for a joint credit card, the bank will see his bankruptcy and probably reject it on the spot. If she applies in her name only (or if he applies for one in her name), the bank will see her $20k/year income and history of debt and either reject or give her one with a fairly low limit and higher than normal APR.

The best (but still flimsy) comparison I can think of is OPL-his SSDI income has consistently been in the $10k-15k range and the debt with interest worked out to about $5k (so maybe 1/3-1/2 of his income). For an income of $20k/year, that works out to $7,000-10,000 in combined credit lines. That's a ton of money to most people but it's a drop in the bucket for someone who managed to rack up $130,000 in CC debt in just 6 years.

 

[LiquidCancer]

Phil's in for an extremely rude awakening if he thinks that's how it works. If they ask for a joint credit card, the bank will see his bankruptcy and probably reject it on the spot. If she applies in her name only (or if he applies for one in her name), the bank will see her $20k/year income and history of debt and either reject or give her one with like $1,000 total limit and higher than normal APR.

Before she showed up he called her "The Second Income" and thought it was a "buyer's market for cars."

I'm not saying he's smart.

 

[tzgnilki]

Phil's in for an extremely rude awakening if he thinks that's how it works. If they ask for a joint credit card, the bank will see his bankruptcy and probably reject it on the spot. If she applies in her name only (or if he applies for one in her name), the bank will see her $20k/year income and history of debt and either reject or give her one with like $1,000 total limit and higher than normal APR.

unfortunately some banks target ppl who are fresh out of a bankruptcy discharge, cause the interest can be higher than usual and the debt can't be discharged

some banks automatically send credit card offers to ppl after bankruptcy, and DSP will fall for it, it's usually sent under the guise of being able to rebuild your credit score, but dsp will just max that shit out and make minimum payments for the next 8yrs, again

 

[der rademacher]

Yeah but you forget how hilarious his misery will be as his life melts all around him. That's a year or more of the purest salt ever seen on planet Earth. I don't give a shit if he limps along after all that because the rage will be glorious indeed.

As I said: "...interesting new storylines.". To me, the stories he'll spin for his pigpen inhabitants afterwards, garnished with a healthy dose of salt... that alone would have been worth the long wait. Knowing his (hurt) ego, he'll take that shit to new mind-bending and brain-twisting levels and that'll be absolute hillarious. However, I'd still be entertained if he get's his case converted to 13 and be put on a six years payment plan by his trustee overlord. "all my money goes straight to billsNancy"

 

[Tumbo]

Nancy would need to be Phil stupid to be financially hurting.

I think some of y'all are underestimating what an awesome position being a trustee is. It's big money and highly coveted. Nancy is not going to risk anything for a few grand from Phil. If she feels Phil should be dismissed, he's getting dismissed.

There is this prevailing assumption about renting an apartment I find particularly annoying. While leasing offices will run a credit and background check on you, unless your some crazy felon or something the only thing they find disqualifying is if you have evictions on your record, beyond that the ONLY thing they give a shit about is that you can prove your monthly income is 3x the rent. If people with bad credit couldn't rent an apartment half the country would be homeless. People live in apartments because they have bad credit. If they had good credit they'd get a home loan. I could afford dave's mortgage payment, it's only $400 more than the rent on my 935 sq ft apartment. If I could afford dave's mortgage why do I live in an apartment you ask? Because I don't have good credit and I don't make 100k a year. dave's BK/bad credit will not prevent him from leasing an apartment, even a nice one.

On a side note, where I live dave could have bought a veritable mansion for what he paid for the wacondo, and I'm in a no income tax state.

As I said: "...interesting new storylines.". To me, the stories he'll spin for his pigpen inhabitants afterwards, garnished with a healthy dose of salt... that alone would have been worth the long wait. Knowing his (hurt) ego, he'll take that shit to new mind-bending and brain-twisting levels and that'll be absolute hillarious. However, I'd still be entertained if he get's his case converted to 13 and be put on a six years payment plan by his trustee overlord. "all my money goes straight to billsNancy"

With a 13 as I recall their isn't a fixed peroid of time per say creditors can extend it at their discretion meaning hypothetically you could be on one till you die however as others have said the chances of him lasting more than a few months let alone years is unlikely.

 

[King Daddy Telomerase]

Wouldn't he pretty much get off easy if his case was dismissed?

That means he could keep his PayPal where he gets all his tips off the record and not get confronted by it

In a rational situation, yes. If Phil was rational, he wouldn't be thinking about bankruptcy.

Guys, remember, it's ALL about the WAKHANDO.

 

[DiabeticSP]

I just want Phil to lose the WAkondo because every step in this process is done with the single minded goal of keeping it.

"Let me short sell"
"No"
"Just take it"
"No"
"What if I stop paying my mortgage?"
"Okay we'll foreclose, and try to get a lien"

He was blocking, dood.

 

[c-beams]

I just want Phil to lose the WAkondo because every step in this process is done with the single minded goal of keeping it.

"Let me short sell"
"No"
"Just take it"
"No"
"What if I stop paying my mortgage?"
"Okay we'll foreclose, and try to get a lien"

He was blocking, dood.

I give permission to MidFirst to sell my home.

 

[millais]

I give permission to MidFirst to sell my home.

One day in the future, I won't be surprised if he gives Khat permission to file for divorce.

 

[DiabeticSP]

One day in the future, I won't be surprised if he gives Khat permission to file for divorce.

Didn't he already claim Leanna and him splitting was mutual and then immediatelt after that she stabbed him in the back so he actually broke up with her instead?

 

[DNA_JACKED]

I'm not great with following the numbers involved or how all this works but if Phil's case gets converted to a Chapter 13 and has strict spending limitations - if he's suddenly prevented from dumping thousands into SweatyHulkHogan.jpg that's a huge amount of money freed up to go towards his payment plan? I'm not convinced he'd instantly fail a Chapter 13 plan.

He's making a ton of fucking money right now but been a total bellend not paying debts and instead funnelling it into Bejewelled. He's not broke, he's just been a total dickhead with the large amount of money he gets and the debts he accrued - a change in attitude is easier than trying to find money that doesn't exist.

With his back against the wall and the risk of losing his 'trophy' wife, his big boy house and his cat, I have a feeling Phil could suddenly find the inclination to put those thousands spent on WWE elsewhere.

The only thing that'll cripple him is a change in his income - and at the moment he's got a bunch of disableds throwing $200+ a day at him to wear a smelly fishing vest and glasses. I have no idea what he'd have to do to lose those guys.

That's not how it works. Chapter 13 doesnt prevent you from spending. What it does is this:

Say DSP brings in $10000 a month. The courts say he only needs, say, $1500 a month to cover living expenses. They will then say "okay DSP, you owe us $8500 a month". He MUST pay this, no matter what. IF he only makes $9000 one month, tough shit, he only gets $500 to cover all his other expenses. He misses one payment they throw his ass to the creditors. If he makes MORE then $10000 one month, the court will demand a higher payment so he only brings home $1500 a month.

Chapter 13s are BRUTAL. They do not give a fuck about you, and for someone with a highly variable income like DSP, they are an almost guaranteed failure. DSP wouldnt be forced to make responsible choices with his $10K, DSP would be forced to choose between eating and playing his vidya, and hed be forced to continue to beg for donations and income yet wouldnt see a dime of it, because if he stops he wont make payments. He'd be absolutely miserable.

 

[gin_nose]

If she applies in her name only (or if he applies for one in her name), the bank will see her $20k/year income and history of debt and either reject or give her one with a fairly low limit and higher than normal APR.

We already know she has her own "debts" that she brought with her, he has talked about it before. Some of those could be open credit cards she is also making minimum monthly on. Would be hilarious if she files chapter 7 next (people i hope are watching the court RSS for her name too, it might not file under Burnell but her maiden name)

Its possible she already has high limits that Dark could pay down with his extra cash and then use that to build her limits and max the cards out and repeat the chapter 7 process. Maybe he has a plan to do a chapter 7 every 5 years using him and her lol.

If Dark isnt spending money on wwe and we are all wrong (yeah right) perhaps he is putting all this extra cash into her debts right now (lol yeah right)

I could see Dark making her an employee of Burnell productions and paying her some huge fake salary to get her credit lines increased, he is quite the scammer it turns out lol.