[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

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What will happen with his case following the 341 meeting?

  • Still gets Chapter 7

    Głosy: 126 18,1%

  • Changed to Chapter 13 and ultimately fails to make his required payments

    Głosy: 218 31,3%

  • Chapter 13 and successfully completed all payments

    Głosy: 19 2,7%

  • Complete dismissal of the bankruptcy

    Głosy: 334 47,9%
  • Łączna liczba głosujących
    697
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Iron Hamster powiedział(a):
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.
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I was the one who first made this claim on here, and for that I'm sorry. The documents MrHuth posted were Chase stating that Phil owes them $35,000 and change, but they were meant to be used to figure out how much of the proceeds from an asset sale would go to Chase, not to raise an objection to the debt or bankruptcy itself. I could be wrong but I believe proceeds from an asset sale are divided proportionally based on how much each unsecured creditor is owed (and it's still considered discharged even if the sale doesn't bring in the full amount of the discharge).
 
I'm gonna be the optimistic one here and go with what I see in the discharge.
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It's still an asset case and was converted over from a non-asset case. Nancy might still pull through.
 
David Davidson powiedział(a):
I'm gonna be the optimistic one here and go with what I see in the discharge.
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It's still an asset case and was converted over from a non-asset case. Nancy might still pull through.
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Be that as it may, how did Nancy look at six months of his tips coming in and immediately vanishing and conclude that Phil doesn't have money? That's what I don't understand.
 
darkwingosonichugorl powiedział(a):
The case isn't closed but the best that can happen now is Phil might have to turn over non-exempt assets to Nancy... oh no, he might lose some toy figures and the Switch. It's over. Pigroach won again.
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So it is impossible for the WAKAHNDO to still be sold or has that ship sailed?
 
RemoveKebab powiedział(a):
So it is impossible for the WAKAHNDO to still be sold or has that ship sailed?
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That ship has not sailed yet. The discharge being granted means none of the creditors objected and it was granted by default. What it doesn't cover is the amount, type, or value of assets (which could include the WAKhando) eligible for seizure and sale; that's specifically called out as an open issue in the discharge paperwork. So far as I can tell that's pretty standard language rather than code for "Phil botched his paperwork"-there is a strict timeline for creditors' objections but there's either a more generous one or none for asset valuation and sale.

Unfortunately I don't have high hopes for him losing the property after this pretty incontrovertible proof of Pigroach Luck (:_((:_(.

Edit/update:


Red Bistro powiedział(a):
I want to see exactly how much gets discharged. If he gets away with spending thousands of dollars on wrestlers DURING his filing I'm going to be so pissed.
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He's getting the full credit card debt (about $130k) and maybe the CT mortgage discharge (about $40k on top of that) discharged. "Asset case" does not mean he has to sell assets to pay off the full debt, it just means they seize what they can and the whole debt is considered settled. If by "discharged" you mean "discharged minus the value of what they take and sell", probably north of $100k. Phil's toys and furniture aren't worth much and nearly all proceeds from selling the Snort Fort would go to the bank rather than credit card companies.
 
Ostatnio edytowane:
So there really is a system that has been built out there where you can be as irresponsible as you want with your debts, decide to one day stop paying them because, fuck it why not, and everything is forgiven without any questions or scrutiny? Breaking the law in an egregious and brazen manner is rewarded now?

The only thing that I can think of is that Phil’s expenses were somehow justified via the documents he provided to Nancy and we were all wrong and he was right?

I’m stepping away from DSP stuff for a while. This is a man who is getting away with fucking murder; it’s not fun or enjoyable anymore
 
If he still loses the Wakhando in spite of his Chapter 7 going through, it'll be interesting to see which part of him wins out: his need to get one over on his detractors, or his need to hold on to his biggest big boy prize.

I mean, Phil isn't exactly the type to accept a lost battle to win the war, after all.
 
TheGoutburglar powiedział(a):
If he still loses the Wakhando in spite of his Chapter 7 going through, it'll be interesting to see which part of him wins out: his need to get one over on his detractors, or his need to hold on to his biggest big boy prize.

I mean, Phil isn't exactly the type to accept a lost battle to win the war, after all.
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Selling the WAkhando is a "loss" in his mind, so he wouldn't care about getting chapter 7. What he wants (and apparently might get somehow) is to be absolved of as much of his credit card debt as possible without having to pay it or give up anything.
 
actually powiedział(a):
Selling the WAkhando is a "loss" in his mind, so he wouldn't care about getting chapter 7. What he wants (and apparently might get somehow) is to be absolved of as much of his credit card debt as possible without having to pay it or give up anything.
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I know how much he hates the thought of losing his condo and of paying his debts, my question is: Which hate is more intense?
 
RemoveKebab powiedział(a):
So it is impossible for the WAKAHNDO to still be sold or has that ship sailed?
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Yes, from what I read. The WAkhando is exempt, the trustee can't sell it.

Whatever, I'm waiting for Nancy's final report which should be out by the end of the month before leaving this sad, cruel joke.
 
Phil getting bankruptcy is like Chris escaping punishment for macing gamestop employees or Yaniv getting a slap on the wrist for harassing minorities to wax his female balls.

By default cows are edge cases and they abuse (intentionally or not) processes the rest of us normal folk try to respect.

But again, just because we care about Phil doesn't mean the courts do. He's a manchild who isnt worth the time of day to pursue on anything. The best case scenario was a chapter 13 and they force baby to learn some fiscal responsibility, but honestly he doesn't have THAT much in debt for Seattle.

He's got an average yearly salary in debt he's racked up mostly through kiting debt and eating fines for years.

Hell, if he showed Nancy he's actually been paying minimums forever it might have been granted because credit cards arent designed to be used like that and the banks already made a near criminal killing off of him. Bankruptcy is working as intended which is why idiot fucks like Phil get a lifeline every 7-8 years.
 
MoonRocker powiedział(a):
So there really is a system that has been built out there where you can be as irresponsible as you want with your debts, decide to one day stop paying them because, fuck it why not, and everything is forgiven without any questions or scrutiny? Breaking the law in an egregious and brazen manner is rewarded now?
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Yes and it existed before Phil and will continue existing after Phil.

What will also exist is Phil's total inability to not ruin his own life regardless of how many bones he's thrown.

So.... Why are you so upset?
 
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