[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

[Wurstbrot]

Correct.

"Oh no I'm getting so much E-mails about Philip P Burnell. Well, I guess I'll just ignore the facts and his $10k+ income and no further questions asked about the inconsistencies in his papers".
Says nobody.

I'm currently blaming Corona-Chan for possible delays in decision making. They could still come back to him with a but(t) and kinda ignore the set expiration time because of special circumstances. It's my hope at least.

Edit: What happened to the asset case?

 

[DiabeticSP]

Its not 'pigroach luck' or 'cosmic unbalance' or whatever the fuck.

Its bankruptcy. Its really hard to fuck up bankruptcy. Phil is a nobody with just enough assets and weirdness in his case to cause him some issues.

Outside the gout circle nobody gives a fuck about this sad little man. If you invest so much importance on a man getting banktupry as a 'win' instead of laughing at him for needing bankruptcy in the first place, you need some fresh air.

 

[architect]

The US government just tipped me $200,000 to pay off my unsecured debts and the deficiency on my khando. Thank you very much Nancy, let's get you up on the leaderboard.

 

[Colloid]

Phil's going to find some way to fuck this up down the road. I have no idea how since I can't really think like an idiot, but the sheer smugness that ensues from luck like this is usually followed by him screwing something up in ways I couldn't imagine. Realistically however, Phil's going to learn fuck all from this and continue to ramp up his spending until he's in the hole by $500 grand again in about 3 to 4 years except this time Ch 7 won't be an option since you're only limited to one every 8 years.

 

[Providence Backing_21]

I leaned toward Phil converting to a Chapter 13, but I've said all along he would walk. Probably the one thing that helped Phil is living where he does. The COL is high because high incomes in that area due to Tech and Boeing. I'd say a good portion of the bankruptcies in that area are 100k filers. Add in the constant sperging of autists emailing Nancy hourly. Also the optics of liquidating someone's primary residence in the midst of a pandemic. Well played Dave! Time to take that well deserved honeymoon. ACK ACK ACK.

I have believed he would get away with it. Not fully sure he has yet and the CT kahndoh is still hanging over him. It still would be hard to get the Wakandoh from him because of exemption and being his primary residence. The main thing on his side has always been the area he lives in and the money being made there.
I believe Nancy can still object to certain things. I'm also not sure how an asset case effects the timeline for the trustee.

 

[DiabeticSP]

I have believed he would get away with it. Not fully sure he has yet and the CT kahndoh is still hanging over him. It still would be hard to get the Wakandoh from him because of exemption and being his primary residence. The main thing on his side has always been the area he lives in and the money being made there.
I believe Nancy can still object to certain things. I'm also not sure how an asset case effects the timeline for the trustee.

Agreed only because besides Phil's mortgages (one being foreclosed, one being primary residence), his car (which he signed an agreement to keep paying), and his IRS debts (nondischargeable) what else even is there?

A couple grand in CCs? Pocket change amounts for someone kiting cards that all the companies have probably made more off him in interest and mimimums than the actual amounts.

Phil doesn't have shit to grab. Dudes on the calls before and after him that probably got granted to had business assets, summer homes, yachts.

Phil managed to move someplace where his income isn't even high. He makes $100k a year and that's only $7k higher than median.

If he lived anyplace else he'd live like a king but this dumbfuck moved someplace thats just over average.

He'll probably get chapter 7 because he's making a 'normal' seattle area income and has literally nothing to show for it besides a history of credit card payments.

 

[WorthlessTrash]

He can't keep getting away with it... he can't...

 

[architect]

This isn't over yet. Either he will have to double down and report the same low income to the IRS, who would be more willing to look into his bullshit, or he would have to report his actual income (which contradicts his bankruptcy info).

Who am I kidding? He's just going to get away with it again.

 

[JamFlowMan]

Well this confirms my theory no matter what happened somebody would deliver the salt, be it Phil or people who were personally invested in the outcome.

 

[Iron Hamster]

Ok, I'm writing again: As far as I understand this, this only means the credit card companies can't "detract" him for these debts anymore, but Nancy still can, and Midfirst still will after they get rid of the khando for less than the subprime on it, right?

Don't forget Chase asked for a stay that hasn't been heard yet. Between them and Midfirst, they are the bulk of his $130,000 debt.

 

[TheGoutburglar]

Well, despite my best efforts to avoid this, I'm still quite shocked and offended.

That said, there is the greatest silver lining of all to this: Phil is Phil. He will not capitalize on this the way that nearly anyone else would. He will not start saving money. He will not reveal that he has been saving money all this time. He will not avoid this situation in the future. He will not be prepared for the way it affects his usual begging methods.

Even if this saga is over, Phil is going to start another one, and even if he bumbles his way through that too, consider the likelihood that he has heart disease. For all we know, karma has something really special planned for him that doesn't involve a court system.

 

[Ungrim Ironfist]

Echoing other people, I feel a little bit salty about these results. Well, that means I need to step away from monitoring Phil for a while. Too invested. See you guys down the line.

 

[DSPGouting]

This isn't over yet. Either he will have to double down and report the same low income to the IRS, who would be more willing to look into his bullshit, or he would have to report his actual income (which contradicts his bankruptcy info).

Who am I kidding? He's just going to get away with it again.

Man i was listening to a Memeology 101 video on Pedo penguins in the background while reading this thread.

As I finished reading your post DSP started doing his fake evil genius laugh in the background and honestly I don't know how to feel rn

 

[DiabeticSP]

Don't forget Chase asked for a stay that hasn't been heard yet. Between them and Midfirst, they are the bulk of his $130,000 debt.

Is there a date for them?

 

[ReentryPhantom]

This isn't over yet. Either he will have to double down and report the same low income to the IRS, who would be more willing to look into his bullshit, or he would have to report his actual income (which contradicts his bankruptcy info).

Who am I kidding? He's just going to get away with it again.

At this point, saying this is the equivalent of redditors screeching "BUT BERNIE CAN STILL WIN!"

 

[myone]

Unbelievable. He's completely untouchable... If this is how it all turns out I envy his luck in life.

Stuff like this is a slap in the face for people who refuse to go into debt and live on a tight budget. They've been duped by people like phil.

 

[behind_the_scenes_begging]

maybe I'm in denial, but what if the writers are just cleverly subverting our expectations? This particular arc has been so satisfying and the writers have consistently spoiled us, even with complex arcs intersecting (like our hero mentioning microtransactions in his bankruptcy phonecall, a crossover to the WWE arc) so I don't believe it would end this way. The satisfying twist is still to come.

Even if his bankruptcy application succeeds, the process has left our hero exposed in other ways. Plenty for the writers to work with.

 

[PutridElephant]

What's the Difference Between General Discharge vs. Dischargeability?

There is a difference between general discharge and dischargeability of particular debts in a bankruptcy case. Read about these differences here.

www.thebalance.com

Unfortunately, the general discharge order does not include a list of the debts that are actually discharged. This can be frustrating for both the debtor and the creditors.

The general rule in a bankruptcy case is that a debt is discharged

 

[SheerDisgust]

In the context of fiscal irresponsibility and terrible behavior, Phil doesn't even register. Most Twitch streamers don't even know who he is.

Watching Phil fuck up his life is a good show, better than any actual soap opera. Being emotionally invested in soap opera characters isn't healthy.

 

[actually]

Could our resident experts give some idea of the remaining timeline for the final report from the trustee, potential asset sales, and so on?