[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

[Beavis]

What does Phil actually own. He doesn't own his condo. He doesn't own his car. He owns a couple consoles.

Phil is ghetto rich as fuck. He's probably paid double to the banks what he ever spent on those cards by now.

He's not scamming bankruptcy, its working as intended. You're mad because Phil is a bad person, and that's fair. But nobody should care about Phil. The universe doesn't give a fuck about the gouthermit who managed to spend hundreds of thousands to own less possessions than the vast majority of the country.

The man didn't buy a mansion and ferrari. He didnt rack up CCs touring the world, seeing the sites.

Phil isn't 'winning' by getting his bankruptcy. Its a bankruptcy. Any banktuptcy is already a loss.

As sad as I am about the whimpering end of the Bankruptcy Saga he hasn't really won anything. he's still got no long term retirement savings and more than likely he will be back in this exact same position in a couple years time.

No doubt this will embolden Phil to rack up more debt and assume he can just default on it again.

Someone mentioned the trustee not wanting to boot someone out of their home during a pandemic. I agree that could have been a big part in the decision to grant chapter 7. She may also have thought the nature of Phil's income is erratic and he wouldn't be able to keep up with chapter 13 payments.

 

[actually]

Only the ones on the current IRS payment plan. Any he put on credit cards are discharged. If he put them on the Chase cards, there is a specific line to note that on the Chase filings and they didn't.

The ones on credit cards won't be discharged unless they're old. Otherwise, I could put tens or hundreds of thousands in taxes on a credit card and then declare bankruptcy to effectively duck those taxes.

Let's keep in mind as well that Nancy could have decided that Phil was too much of a fuckup to waste time trying chapter 13 on and may be looking to just sell what she can, including his condo.

There's also the question of whether MidFirst will be able to get at their money. Guess it depends on when that deficiency is considered a debt.

 

[Exceptional Chimp]

Relax. This is a good thing.

This is still an asset case, and the only asset of any value he has is Manchild Manor. Nancy gets 3% of that if it's sold vs. a pittance if the case is dismissed. And yes, she had somebody look up the current value of the property, not just the value (from six years ago?) he put on the application. That's the biggest asset most people have and the first thing a trustee looks at.

The credit card companies got their money back and then some via minimum payments all these years. Besides, they're as dumb as he is if they issue a 12th card to somebody with 11 already. Don't feel sorry for them.

He's been a pissy little bitch of late, surely Rochelle told him something "behind the scenes" that hasn't come out yet. I want to see piggy squeal in big boy court when the final order is handed down.

Dab now, pack later, Pigroach.

 

[TheGoutburglar]

No doubt this will embolden Phil to rack up more debt and assume he can just default on it again.

May even start on that today.

Someone mentioned the trustee not wanting to boot someone out of their home during a pandemic. I agree that could have been a big part in the decision to grant chapter 7. She may also have thought the nature of Phil's income is erratic and he wouldn't be able to keep up with chapter 13 payments.

For anyone else, this may have been a genius move, not having any assets other than their home, but it's Phil, so no. He just lucked out. Again, I get the frustration with that, but at the same time, Phil not thinking far enough ahead is also why he'll wind up in trouble again. He would only TRULY win if he learned, and avoided this in the future, because nothing would be a bigger twist than that.

How's that for a "legacy"? Your detractors being more shocked by a smart move than by your dumb luck.

 

[King Daddy Telomerase]

Relax. This is a good thing.

This is still an asset case, and the only asset of any value he has is Manchild Manor.

Yes, but Phil's property is exempt in an asset case. The trustee can't sell it to pay off debts at this point. At best, Nancy can sell his stupid toys and useless crap like his coffee maker(s), none of which Phil cares about. Exactly like he told us. It's over. Pigroach won.

Also, if people think that this was just automatic, Yacht Guy wasn't discharged. Phil's discharge was put through by someone.

 

[FamicomGorby]

Relax. This is a good thing.

This is still an asset case, and the only asset of any value he has is Manchild Manor. Nancy gets 3% of that if it's sold vs. a pittance if the case is dismissed. And yes, she had somebody look up the current value of the property, not just the value (from six years ago?) he put on the application. That's the biggest asset most people have and the first thing a trustee looks at.

The credit card companies got their money back and then some via minimum payments all these years. Besides, they're as dumb as he is if they issue a 12th card to somebody with 11 already. Don't feel sorry for them.

He's been a pissy little bitch of late, surely Rochelle told him something "behind the scenes" that hasn't come out yet. I want to see piggy squeal in big boy court when the final order is handed down.

Dab now, pack later, Pigroach.

We can only hope.

Confirmation will be if the Pig is particularly jubilant on stream. These fake ass ear infection though do give a bit of hope though that Dave might not be getting through this completely unscathed.

 

[Beetus Knuckles]

Phil’s going to skirt the CONNdo completely. The underlying responsibility for the mortgage will be discharged. Even if they got a lean (which I don’t think is even an option at this point) on WAKhando, he could have it avoided as it would be impeding an exempt asset. Unless Nancy comes at him to seize assets, he’s almost there. Since the (fraudulent) business expenses are large, you must discharge!

 

[Iron Hamster]

The ones on credit cards won't be discharged unless they're old. Otherwise, I could put tens or hundreds of thousands in taxes on a credit card and then declare bankruptcy to effectively duck those taxes.

Let's keep in mind as well that Nancy could have decided that Phil was too much of a fuckup to waste time trying chapter 13 on and may be looking to just sell what she can, including his condo.

There's also the question of whether MidFirst will be able to get at their money. Guess it depends on when that deficiency is considered a debt.

I would agree if the fourth box down was checked and amount filled in on any Chase submission or any of his other cards submitted the same. Without that, how does it get proven? I mean, the most current ones would have to be 2016ish at least right? Or am I misreading this form?

 

[Forbidden Math]

If you were personally involved and foolish enough to lift a pinky finger and intervene at all in this, you deserve to be upset.

Envy or anger or anything else over this whatever the outcome which might consume energy is a complete waste. If you were hoping for Phil to grovel and cry on stream or freak out or an hero, you were mistaken because he's far too prideful for any of that. If you were thinking he'd hang up and go away if he lost his house, you were similarly mistaken because he's too lazy to do anything else with his life and he knows people will continue to be the organ grinder to his monkey. The only thing the worst possible judgment against him would've changed is that maybe some onlookers would feel a sense of secondhand justice or schadenfreude.

But we all know chasing those things is a waste of time, too, don't we?

However this turns out, it isn't worth your personal investment. It just isn't. Phil is a shithead who has always and will forever continue to run his own life aground. That's why we're all here, to stand by and watch it happen. Not to see any sort of high-minded just desserts. We just want a good laugh, and Phil will continue to provide them.

Most cows don't get grand comeuppances. It's what part of makes them cows. Expecting or hoping for it, when you could be doing any small thing which makes you better than any of them, is pissing time and energy down the drain.

To be fair I'm sure some people are mad that we won't get more laughs out of this whole thing (well, unless they do take his house in which case cue Seinfeld music). I mean I personally don't feel the need to see pigroach suffer, his whole life is suffering already, maybe not one specific thing but mainly just because he has a big ego and there are a million things out there damaging it, it's death by a thousand cuts.. I just always find it disappointing when Phil's ego is placated in any way. Now he'll be like "see, I really needed that bankruptcy dood!".

Like I said though, oh well, a toast to the pigroach, enjoy it while it lasts PP.

 

[BabygotACKACKACK]

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.

This makes me think the 3rd paypal is definitely real and what she got was a bare bones amount of what he makes

 

[Near]

We got this, detractorbros. This is how Phil, the Donald Trump of let's players can still lose

 

[Kosher Dill]

The actual most likely outcome is that the Chapter 7 goes through unchallenged, then Midfirst forecloses on the CT condo and takes Phil to court for the deficiency, and the court throws the case out on a technicality leaving Phil happy, wealthy, and debt-free.

Told you all.

 

[UncleTusky]

Yes, but Phil's property is exempt in an asset case. The trustee can't sell it to pay off debts at this point

This is false. You are thinking of a no-asset case where everything is covered by one of the bankruptcy exemptions; in an asset case there are non-exempt assets that the trustee can still seize and sell to pay off creditors. The discharge only means the creditors can't collect directly from Pig, they'll be getting their cut of the money from Nancy's sale instead.

 

[actually]

I would agree if the fourth box down was checked and amount filled in on any Chase submission or any of his other cards submitted the same. Without that, how does it get proven? I mean, the most current ones would have to be 2016ish at least right? Or am I misreading this form?

Wyświetl załącznik 1274565

Most recent would be 2017. He didn't pay his 2018 taxes and probably not his 2019. But you're right, they appear to not claim it. He said he put his back state taxes on credit. Wonder which one it was.

 

[Mr.PiggyOinkOinkOink]

Ya know, I’d be more salty if I wasn’t so negative and always had that itch in the back of my head that Dephil was gonna get what he wanted, so big ups I guess

 

[OwO What's This?]

DSP is a god asleep, and only through donation can we prolong his slumber

 

[Battlecruiser3000ad]

Glad I was on board to witness an epic pigroach moment.

 

[King Daddy Telomerase]

This is false. You are thinking of a no-asset case where everything is covered by one of the bankruptcy exemptions; in an asset case there are non-exempt assets that the trustee can still seize and sell to pay off creditors. The discharge only means the creditors can't collect directly from Pig, they'll be getting their cut of the money from Nancy's sale instead.

Reading more about this, you're correct. My bad, this shit gets easily confusing.

If so, then this discharge means little because it was always a long shot that creditors would bother within the 30 days post-341 meeting.

 

[Takayuki Yagami]

Docket for Philip P Burnell, 20-10323 - CourtListener.com

Docket for Philip P Burnell, 20-10323 — Brought to you by the RECAP Initiative and Free Law Project, a non-profit dedicated to creating high quality open legal information.

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24 May 6, 2020 Main Document Discharge of Debtor, Chapter 7 (automatic)

How in the hell do you discharge 500k in credit card debt?

 

[Null]

Remember kids: if you're not laughing, you are the joke.