[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

[DZoomer]

Gotta say, the best part about this whole "reveal stream" was that, after confirming every single thing that the detractors already were saying regarding the foreclosure (things he denied were true for weeks), he then goes on to say "Don't trust what these guys say!!!".

I guess we're already way past the point of plausible deniability. Every single person who gives money to DSP is either a troll who wants to keep him around as a lolcow, or legitimately reetarded.

 

[James Smith]

It doesn't matter which bankruptcy he goes through. He will lose that WA condo, period.

 

[Near]

lol this asshole's strategically letting everyone know so he can milk it as his big drama reveal, rather than let those gosh darn detractors figure it out and leak it first.

 

[Nypical Haterade Comment]

Man, this season is insane! First we get the $40k whaling plot twist at the beginning of the season and now they’re pulling out a bankruptcy plot line? The ride never ends!

 

[Surly Muppet]

Gotta say, the best part about this whole "reveal stream" was that, after confirming every single thing that the detractors already were saying regarding the foreclosure (things he denied were true for weeks), he then goes on to say "Don't trust what these guys say!!!".

Oh don't stop there. It got better.
Detractors have (apparently) been saying that if he declares bankruptcy, he'll have no more debt and not need contributions anymore. But that's not true! He'll need the same, if not MORE!

I haven't seen anyone say this. Most Kiwis talking about bankruptcy said his fans should stop donating because he is fucked beyond all hope, not that he'll be living the high life. Nice spin, Phil.

Anyone with half a brain can see that everything the detractors reported was 100% correct, and he admitted that these 'terrible lies' were taken from publicly accessible legal documents. But then he tacked on that little bit about the bankruptcy so he could use the detractors to beg.

This is, by far, the absolute most greasy, dishonest maneuver I have ever seen the pig pull in front of his audience. He literally expects them to be so stupid as to not realize that the truth was uncovered weeks ago, and Phil can't explain how exactly it was a 'lie'. He just wanted to pace his begging strategies. With Champions happening in the background, Phil has actually managed to hit a new low.

 

[actually]

It doesn't matter which bankruptcy he goes through. He will lose that WA condo, period.

Tell me why and do it in excruciating detail.

 

[MoonRocker]

Tell me why and do it in excruciating detail.

Yes, please give as much information as possible. He's under the impression that he's going to keep his shitty house.

God, I can't wait for the homelessness saga.

 

[Near]

So they only just got married, and the bank is going to go after his wife's jewelry.
I cannot even imagine the disdain Kat has towards him right now. this might get even better.

 

[Shield Breaker]

Yes, please give as much information as possible. He's under the impression that he's going to keep his shitty house.

God, I can't wait for the homelessness saga.

No, it will be the divorce and living with his parents saga. Mommy's an enabler.

 

[the khat quaffer]

So they only just got married, and the bank is going to go after his wife's jewelry.
I cannot even imagine the disdain Kat has towards him right now. this might get even better.

Repossessing $90 wedding rings is the hardest part of any Repo man's job.

 

[Prince Lotor]

I hope we get to hear Phil ranting about a bankruptcy judge laughing at him when the judge is made to understand 75% of Phil's income comes from people just deciding to give him money for no reason.

Are his bankruptcy debt repayment amounts going to be based on his current $10K per month income level?

 

[King Daddy Telomerase]

Yes, please give as much information as possible. He's under the impression that he's going to keep his shitty house.

God, I can't wait for the homelessness saga.

Phil also says that his bankruptcy lawyer told him that his trolls are insane and the reason he is financially struggling and he absolutely needs his office to work from. Phil's either completely losing his mind about this, or he's pretending to go through bankruptcy for some reason. Either way, 2020 is going to be fun watching this asshole finally get his karma.

 

[Iroquois Pliskin]

"Your honor, are you sure we couldn't drop this case for say... two collectible statues of your choosing?"

 

[James Smith]

It's in the bankruptcy thread. I'll find it.

https://kiwifarms.st/threads/dec-15-2019-foreclosure-saga.64148/post-5803252

EDIT:

https://kiwifarms.st/threads/dec-15-2019-foreclosure-saga.64148/post-5733815

He can only keep $125K in equity. He has fuck tons more.

 

[Kheapathic]

I hope we get to hear Phil ranting about a bankruptcy judge laughing at him when the judge is made to understand 75% of Phil's income comes from people just deciding to give him money for no reason.

Are his bankruptcy debt repayment amounts going to be based on his current $10K per month income level?

I'm half expecting it to be some boomer judge who doesn't understand playing videogames online for an audience is a job; so he completely ruined Phil's ability to pay down his debts and costed him his house, literally nothing he could do.

 

[PutridElephant]

Tell me why and do it in excruciating detail.

Better still, make an 8 hour podcast with guests and stuff

 

[Pargon]

Better still, make an 8 hour podcast with guests and stuff

Fred must be kicking himself. This is just the kind of spectacle his SoKasts were meant for.

 

[Jeanne d'Arc]

If he gets a judge who even remotely understands Twitch and Twitch streams are presented as evidence I will fucking cry laughing.

"Wait, wait, wait- someone gave you $17,500 in one sitting while you played video games and you're bankrupt? What the fuck did you do with it?"
"Your Honor I had to roll for Andre the Giant super 4-star gold plus 99! It took me a lot of money to get that dood!"

This makes the whaling on WWE Champions so much funnier.

 

[LyteSydeByll]

It doesn't matter which bankruptcy he goes through. He will lose that WA condo, period.

Does DSP not qualify for Chapter 13? Is it down just to 11 or 7?

 

[Forbidden Math]

It's in the bankruptcy thread. I'll find it.

https://kiwifarms.st/threads/dec-15-2019-foreclosure-saga.64148/post-5803252

Sweet, just going to quote that all here:

Bankruptcy will have obvious benefits to both parties. It will stop all efforts by creditors (plural) to get money from DSP's accounts, payers, etc. It will also require DSP to begin adhering to a strict budget and give the rest of his income to the trustee to distribute among his credits according to the law and any court instructions. It looks like he has equity that very much exceeds the exemptions, so it will require DSP to sell his condo and his car and find alternative housing and transportation. He will get the first $125K after the original WA lender is paid the mortgage balance and his creditors will get the rest. He can use that money to make initial payments on a home and a car that is below the exemption; if he doesn't spend it he will lose it to the same bankruptcy trustee a while later, I don't know how much of a grace period he has.

His credit score is tanked and he has to adhere to this payment plan for at least 3-5 years, possibly more if he files under Chapter 11 instead of 13 and his creditors all vote to extend it. I don't think filing under Chapter 11 is a good move for him for that reason alone.