[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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darkwingosonichugorl powiedział(a):
I may be rainbow, but I don't think today has any effect on if Phil loses his condo or not. Phil won avoiding to pay a lot of his credit card debt, which he really has many times over in interest because he's an idiot that only pays his minimums.

Since it's an asset case, Nancy can still take the condo. She'll basically have to if she wants anything of value, like you say.
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The thing getting in the way of that, though, apparently, is that it's residence. Courts have done more ghoulish things, but this is Phil, and though I don't truly believe in pigroach luck, I have learned not to expect him to be treated by the court the way we would treat him given the same powers.
 
Freshtodeath powiedział(a):
I stand corrected then holy shit. Citi Bank might be preoccupied with corona related shit but I'd think they wll fight for their 37k.
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They probably won't, that's a lower limit than some cards. Plus he's been kiting it since the move so they've mad a fuckton of money off him paying fines, fees, and minimums for years.

Its not worth their time to fight. He'll come crawling back for a new card anyways.
 
SojiroSakura powiedział(a):
This is PP Burnell, his entire existence is a failure and he'll find a way to fuck this up too. I'm not worried at all. Just another delay to the inevitable.
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He will have to figure out how to live without credit. He will also have to rely on paypigs for a long time to support himself.
 
Does the trustee know how much Phil paid back in credit card debt? Maybe she saw that he paid the amount he borrowed several times over and just said "fuck it" and threw him a bone.
 
AnOminous powiedział(a):
He'll be flooded with new card offers but they'll all be tard limit cards with obscene interest rates. If he doesn't pay them all off every month he'll be living like Chris-Chan.
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Exactly. And he has nothing to show for it anyways.

Phil is the white trash version of an nfl player making 6 mil a year and going bankrupt with 3m in debt a year after playing.

Phil's chump change.
 
Well if something prove that he is literally immune to anything is this, nothing less than a nuke in front of his house is going to affect him at this point
 
I expected this to be the outcome but it still fells unfair. At least we can look forward to his next emergency.

The housing market could collapse, destroying any equity he has build up on his condo.

The decrease in stupid troll tip/over all income as the Fairweather detractors move on to the next shitshow.

And we just know the next tax season is just around the corner.
 
One thing I'm still not understanding: from what I've read, the WAkhando can still be liquidated.

But his credit card debts were discharged, his CT khando was foreclosed on, and I'm pretty sure he has been paying his WAkhando's mortgage.

So why the hell would the khando be sold? Its equity is worth more than his debts, when you don't include the CC debt. So liquidating the khando would allow for part of his CC debt to be paid. Why would they allow for part of the debt to be discharged?

Or... Does the trustee get more money this way? :thinking:
 
DZoomer powiedział(a):
One thing I'm still not understanding: from what I've read, the WAkhando can still be liquidated.

But his credit card debts were discharged, his CT khando was foreclosed on, and I'm pretty sure he has been paying his WAkhando's mortgage.

So why the hell would the khando be sold? Its equity is worth more than his debts, when you don't include the CC debt. So liquidating the khando would allow for part of his CC debt to be paid. Why would they allow for part of the debt to be discharged?

Or... Does the trustee get more money this way? :thinking:
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The court doesnt wanna take your residence unless it really has to. Especially when you're current on it. Doubly especially during a likely market crisis.

Especially when a bankruptcy fucks his credit, he'd never get a new place.
 
Well damn DSP just got a lot more boring. The only fun that can come out of this now is what Nancy decides to liquidate and how much of DSP's "business" assets she decides is distinguishable from personal assets
 
DiabeticSP powiedział(a):
The court doesnt wanna take your residence unless it really has to. Especially when you're current on it. Doubly especially during a likely market crisis.

Especially when a bankruptcy fucks his credit, he'd never get a new place.
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So you believe Phil got out of this with a slap on the wrist? He will lose some worthless shit he doesn't care about and that will be it?

Now I understand why people got mad. It's insane that a person can be free of 100k+ dollars of debt, whilst having the ability to pay them off by means of a payment plan.

Oh well, I will wait for Nancy's update to decide whether this was a disappointing arc or not, but I'm not holding my breath.
 
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