[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

[DiabeticSP]

For those of us getting rather blackpilled about the fact that he may actually get away with a Ch 7 is there any reason to be hopeful he won't in light of these latest amendments?

Being told to fix his shit doesnt mean they 'forgive' him for lying or omitting things. They're just forcing this dumbass to have accurate paperwork.

Besides which, the only thing the chapter 7 really mattered for was the house, which is still likely to be over the threshold and you can 100% guarantee a billion screaming spergs are emailing Nancy that fact right this very instant.

 

[architect]

Let's keep it in perspective.

DSP's BEST CASE SCENARIO is still that he's fucking bankrupt, even if he "gets away with it."

That best case scenario is equivalent to the US government giving him a tip of almost $200,000 to pay off his debts (unsecured debt + condo deficiency). If his debts get discharged, even if he has to sell some stupid statues or electronics, he definitely comes out a winner.

 

[DiabeticSP]

That best case scenario is equivalent to the US government giving him a tip of almost $200,000 to pay off his debts (unsecured debt + condo deficiency). If his debts get discharged, even if he has to sell some stupid statues or electronics, he definitely comes out a winner.

And then takes out new credit cards with worse rates and resumes spending outside his means while not paying off his center unit condo or worthless car.

It doesn't excuse the current condo, car, irs payment plan(now including 19!), any spending he's done since October. So he's already got a head start on new debt in the BEST scenario.

I'm still rooting for 13, though.

 

[King DDT]

Any chance that this could be similar to what a cop would do during interrogation?
They hear one story, get a feeling that you're lying, and then break "Just tell us the truth. It'll be easier on you." so that they can bust your ass with lying to them on top of everything else?

Maybe this is Nancy's way of getting Dave to admit he lied. A lot.

EDIT: On an unrelated note, Dave still shocks me with his laziness. He's got quite a few statues that are out of production and would be worth a decent chunk to the right buyer.

 

[wahkando]

Let's keep it in perspective.

DSP's BEST CASE SCENARIO is still that he's fucking bankrupt, even if he "gets away with it."

Bankrupt isn't a bad thing for him to be though lmao

Because WA has an insane 125k exemption and he gets to keep literally everything he owns. He loses nothing. He just gets 5k a month more in disposable income.

 

[Tumbo]

And then takes out new credit cards with worse rates and resumes spending outside his means while not paying off his center unit condo or worthless car.

It doesn't excuse the current condo, car, irs payment plan(now including 19!), any spending he's done since October. So he's already got a head start on new debt in the BEST scenario.

I'm still rooting for 13, though.

I Actually forgot about all the non dischargeable debt he has things like useing CCs to pay off back taxes ect so really even if he gets 7 he's still got a shit ton of debt.

 

[UncleTusky]

I Actually forgot about all the non dischargeable debt he has things like useing CCs to pay off back taxes ect so really even if he gets 7 he's still got a shit ton of debt.

MidFirst may also have some plan to get the underwater mortgage on the CT condo (about $40,000 on paper and probably more in the final sale) declared non-dischargeable: None of the legal eagle Kiwis in this thread are sure how that would work, but their logic is that there has to be some reason MidFirst decided to lift the foreclosure stay when Phil was already surrendering the property. If that goes through he's looking at a lien against the WAKhando for the deficiency. A lien probably would not mean losing the WAKhando or even another lawsuit but it would mean his hopes of refinancing or a HELOC are zero until he pays the thing off.

 

[Sparkletor 2.0]

He makes around $10k a month. His personal Bill's are $5k a month. His business is at most $300 a month.

Phil has $4700 a month extra to pay his bills.

Quit playing WWE champions.

Case closed.

 

[Freshtodeath]

When a gambling addict files bankrupcty do they typically include the info and are open about it? DSP hasn't told Nancy about his addiction. I'm sure she's smart enough to figure it out.

 

[King Daddy Telomerase]

His personal Bill's are $5k a month.

Which should really be like $1-2k at most.

 

[James Smith]

Which should really be like $1-2k at most.

What third world country do you live in where you can survive on $1-2K each month without gibs?

 

[Alxmir23]

Which should really be like $1-2k at most.

What third world country do you live in where you can survive on $1-2K each month without gibs?

so youre telling me canada is a third world country? because you can live off 2k if you got an apartment. apartments are generally below 1k$

i live off 1,5k a month because my rent for a my apartment is 450$

Bankrupt isn't a bad thing for him to be though lmao

Because WA has an insane 125k exemption and he gets to keep literally everything he owns. He loses nothing. He just gets 5k a month more in disposable income.

didnt a bank file a motion to get money from him no matter what happened with bankruptcy. if he owe 40k to them(random number) and the filed that motion,doesnt he still owe them that amount afterwards..or do they just get to pick some of his assets to make up the difference?

 

[Salubrious]

When a gambling addict files bankrupcty do they typically include the info and are open about it? DSP hasn't told Nancy about his addiction. I'm sure she's smart enough to figure it out.

She doesn't need to be smart when dozens of autists send her daily updates through email.

 

[King Daddy Telomerase]

What third world country do you live in where you can survive on $1-2K each month without gibs?

Phil barely drives, if he does at all. That's a big savings off the bat.

$1k for rent/mortgage. $500 or so for other bills. He has that horrible health coverage for $300/month too. For Phil, I'm sticking with $2000/month for bills at the maximum if he cared about living frugally.

 

[Gamergirl Cleanup Crew]

Throwback to 2018 (39:45 if timestamp didn't work)
"You don't have to worry about me. I do the right thing even if, y'know, I couldn't... pay it when I sh- supposed to."
~ Phil on taxes

 

[DiabeticSP]

Phil's paying HOA fees and inflated mortgage because ????


It's not like he did the sensible thing and got a single family house in the cheapest area he could find with good internet.

Phil will find ways to make his life more expensive than it needs to be. He couldn't live off 2k a month like I do because I live in flyover country and he lives in Seattle like a dumbass.

 

[actually]

Phil barely drives, if he does at all. That's a big savings off the bat.

$1k for rent/mortgage. $500 or so for other bills. He has that horrible health coverage for $300/month too. For Phil, I'm sticking with $2000/month for bills at the maximum if he cared about living frugally.

His WA condo mortgage (maybe plus HOA fees) is $1800 a month itself. If he hadn't insisted on buying near Seattle, he absolutely could be paying $1000 or so a month, and probably for an actual house. In his current place, he could almost certainly get down $3000-$3500 by cutting the fat. But we both know that's not happening.

 

[TankMelee]

didnt a bank file a motion to get money from him no matter what happened with bankruptcy. if he owe 40k to them(random number) and the filed that motion,doesnt he still owe them that amount afterwards..or do they just get to pick some of his assets to make up the difference?

The primary purpose of their filing was just to foreclose and deal with the property without waiting for his bankruptcy to end. There was speculation (but no consensus) about whether they could pursue the deficiency.

 

[AnOminous]

didnt a bank file a motion to get money from him no matter what happened with bankruptcy.

No. They (MidFirst which has the mortgage on the CT condo) filed to lift a stay so they can pursue foreclosure on the property. After the foreclosure sale, which will not cover the money they're owed completely, they can also pursue a deficiency judgment for the remaining amount (minus a discount if it is sold below fair market value), which would become an unsecured debt. Then they could pursue payment from that in liquidation (if it remains Chapter 7), as part of a Chapter 13 payment plan or, if the case is dismissed or they otherwise are authorized to do so, by placing a lien on the WAkondo, at which point it becomes a secured debt (although secondary to the Washington mortgage holder).

 

[QwahlityKahntent]

Let's keep it in perspective.

DSP's BEST CASE SCENARIO is still that he's fucking bankrupt, even if he "gets away with it."

he's not though. thanks to idiot paypigs, he could easily afford to pay all his debts. he's trying to use bankruptcy as a get out of debt free card.