[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

[ZehnBoat]

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.

he could have payed his debts YEARS ago
several times over

but he would rather spend money flying a horse, gatcha games, and expensive food
the moment he gets out of the pit, he's digging another pit

 

[Tumbo]

he could have payed his debts YEARS ago
several times over

but he would rather spend money flying a horse, gatcha games, and expensive food
the moment he gets out of the pit, he's digging another pit

I just hope that when he does he can't use the Government to bail him out again.

 

[Dumpster dived waifu]

he could have payed his debts YEARS ago
several times over

but he would rather spend money flying a horse, gatcha games, and expensive food
the moment he gets out of the pit, he's digging another pit

Nobody does more damage to Phil than he does to himself.

 

[Gramh]

Unfortunately for the intrigue and fortunately for DSP I don't think if he got his Chapter 7 he'd be able to apply for credit for a hot minute so he'd have to live within his means for a while. Guaranteed once he can start racking up debt again he'll be back in that hole, he hasn't learned his lesson the first time and this second time definitely won't sink in seeing as how he took to collecting credit cards.

 

[Mike Hunt]

Any outcome that has Phil keeping the WAkhando is a win for him, I feel. Any monetary shortfalls with, say, a payment plan will produce can easily be covered by Phil raising the minimum for the vest and you know Twitch idiots will go broke trying to keep a meaningless streak going. Or just Jeff Anderson giving a bit more of his dead wife's inheritance. Keeping the condo means he can project that he's still a successful adult with a 10-year legacy. Also less chance that Kat leaves him, so I guess that's a bonus.

I, like some others here, am blackpilled enough to assume that Nancy will give Phil a pass for all his lying. Frauds fall through the cracks in the systems set in place to ensure they get caught and penalized. Why wouldn't Phil be one of those?

 

[Schrödinger's Kat]

but he would rather spend money flying a horse, gatcha games, and expensive food
the moment he gets out of the pit, he's digging another pit

The guy has already started digging his next pit before he's out of the current one. He's been living essentially debt-free since October when he stopped paying all his credit cards/loans, and even April when he stopped paying his CT mortgage. And yet, even while making $200+ in tips per day, he brings up money and pushes the tips goal. He most certainly is spending every thing he brings in. With a 50 stream streak of hitting the goals, he has most certainly adjusted himself to the new normal of always hitting the goal and he's probably really upped his spending and has become comfortable with it. Not hitting the goal will much more difficult for him now.

What we see right now is the Phil we'll get if he gets a full discharge in Chapter 7. He's living as if he's already got it in the bag. And there is a very real probability he's not going to get Chapter 7. He has no idea how hard its going to be if the case is dismissed, or if he gets Chapter 13.

Or even if the vest streak ends and the momentum that he had with it dies, which will happen eventually.

 

[RockHawk]

Unfortunately for the intrigue and fortunately for DSP I don't think if he got his Chapter 7 he'd be able to apply for credit for a hot minute so he'd have to live within his means for a while. Guaranteed once he can start racking up debt again he'll be back in that hole, he hasn't learned his lesson the first time and this second time definitely won't sink in seeing as how he took to collecting credit cards.

he can't get credit at any sort of interest rate a normal person would consider agreeable, but predatory lenders with obscene rates will be flooding phil's mailbox if the bankruptcy goes through

 

[Tumbo]

he can't get credit at any sort of interest rate a normal person would consider agreeable, but predatory lenders with obscene rates will be flooding phil's mailbox if the bankruptcy goes through

And he will be stupid enough to jump all over them or prehaps this whole thing will be a learning experience and he will be able to resist who knows?

 

[The Littlest Shitlord]

I just hope that when he does he can't use the Government to bail him out again.

There's a limit on how often you can declare bankruptcy; every seven years, I think? Something like that.

 

[Who Now]

Guaranteed once he can start racking up debt again he'll be back in that hole, he hasn't learned his lesson the first time and this second time definitely won't sink in seeing as how he took to collecting credit cards.

That will be fun to watch because once he maxes out those cards, he can't file for bankruptcy for another 8 years. That is the beauty of the "get a credit card with bad credit" companies and that's what they count on. I hope he has the balls to tell a sob story to his "fans" when that time comes so we can watch the shit show

 

[Gramh]

That will be fun to watch because once he maxes out those cards, he can't file for bankruptcy for another 8 years. That is the beauty of the "get a credit card with bad credit" companies and that's what they count on. I hope he has the balls to tell a sob story to his "fans" when that time comes so we can watch the shit show

It'll definitely be a fun stress test of how devoted his whales are vs. his financial incompetence ruining him.

 

[AnOminous]

There's a limit on how often you can declare bankruptcy; every seven years, I think? Something like that.

There's a limit on how often you can get a discharge. It was extended to eight years in 2005. If you get a Chapter 7 discharge, you cannot declare Chapter 7 again for eight years, but this date is calculated between filings. So if you file in January 2020, and get a discharge in 2021, you can file again in 2028. If it's dismissed, you can (generally) file again immediately.

It's only two years between Chapter 13s if, somehow, you finish one and go bankrupt again that soon. Considering actually finishing one takes 2-3 years usually, you could usually immediately file for 13 again. Then if you file a 7 and want a 13 later, the rule is four years, and the other way around, it's six (unless certain exceptions apply).

https://www.alllaw.com/articles/nolo/bankruptcy/how-often-file.html

(annoying page with popups)

Courts can modify these times depending on circumstances and behavior, like fraud by the debtor. Like most federal courts, they have pretty broad leeway if you're committing fraud, filing in bad faith, dismissing and then refiling your own case, or other delaying tactics pigroaches like Phil have been known to do.

 

[Salubrious]

That will be fun to watch because once he maxes out those cards, he can't file for bankruptcy for another 8 years. That is the beauty of the "get a credit card with bad credit" companies and that's what they count on. I hope he has the balls to tell a sob story to his "fans" when that time comes so we can watch the shit show

The trolls made me bankrupt, so I HAD to get a credit card with 35% interest because it was MY ONLY OPTION!

 

[lavrentiyberia]

I don't know about all this ‘blackpilling’, personal bankruptcy in the US today is not what we all grew up with, it got massively nerfed during the Bush administration. Trustees were never on the side of the filer/lawyer, but are even less so now. And remember at the end of the call, when Nancy asked if there were any creditors on the line, Rochelle said something and Nancy goes ‘are you a creditor?’ She didn't recognize Rochelle's voice.

 

[LiquidCancer]

I don't know about all this ‘blackpilling’, personal bankruptcy in the US today is not what we all grew up with, it got massively nerfed during the Bush administration. Trustees were never on the side of the filer/lawyer, but are even less so now. And remember at the end of the call, when Nancy asked if there were any creditors on the line, Rochelle said something and Nancy goes ‘are you a creditor?’ She didn't recognize Rochelle's voice.

Rochelle spoke up to to make sure she got her $1200

 

[UncleTusky]

he can't get credit at any sort of interest rate a normal person would consider agreeable, but predatory lenders with obscene rates will be flooding phil's mailbox if the bankruptcy goes through

That will be fun to watch because once he maxes out those cards, he can't file for bankruptcy for another 8 years. That is the beauty of the "get a credit card with bad credit" companies and that's what they count on. I hope he has the balls to tell a sob story to his "fans" when that time comes so we can watch the shit show

This is going to happen no matter how the bankruptcy saga ends. If bankruptcy goes through in Chapter 7 or 13, his existing cards will be closed out as part of the discharge. If it doesn't, his cards are all maxed out or close to it and his debt load is about 100% of his income. Either way he's going to want to waste money on toys and gacha and nobody outside of these operations will give it to him. The only difference between filing for them post-discharge and post-dismissal for fraud is whether they seek him out or he seeks them out (applications are easy to find online and there is not a law that says they're limited to post-discharge debtors).

 

[der rademacher]

he could have payed his debts YEARS ago
several times over

but he would rather spend money flying a horse, gatcha games, and expensive food
the moment he gets out of the pit, he's digging another pit

Way too much effort. Why dig a new hole when he can just jump back into the comfortable cozyness of the old one? But yes, if he should get hit hard by the court's decision (given it won't be a discharge of his debt of course), it will be very interesting to see if he changes anything related to his spending habits including his wrestling game. Or if he resorts to +35% quasi loan shark credit cards and daily paypig beggle cries instead and tries to go on as if nothing has happend. One way or another, it will be a fascinating new event.

 

[James Smith]

Will the credit card offers happen once a discharge is filed or is he already getting spammed with them now that he's filed?

 

[Tumbo]

Will the credit card offers happen once a discharge is filed or is he already getting spammed with them now that he's filed?

If I had to guess probably as soon as a decision is made if not earlier.

 

[harbinger]

Happy 300th page, everyone!

View attachment 1253614

Spoiler: Exhibit A

Does his figurine have a boner? If so, does it come with that or did Philip add it later?