[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

[Cats]

54,000,000 bit cheer from Auditor Nancy, thank you Auditor Nancy

 

[Cemila Mandes]

This guy has the luck that lets him beat games he logically shouldn't beat. This outcome was inevitable.

 

[School of Fish]

If tomorrow World War 3 happened and cities and towns around the world got nuked, DSP would then still be streaming of him sucking at video games and he wouldn't notice that the world is ending.

 

[mugsy]

It's the Mr. Enter drama again. When it comes to these types of lolcows, it's mutually assured destruction and no one really wins.

Speak for yourself, I was #teamphil from the jump and am thoroughly enjoying this massive ' W '.

 

[Canned Bread]

No, because the case isn't done yet.

What's left there to the case? I'm sort of confused, because it doesn't really feel like there is anything else to do (I don't have a whole lot of legal experience)

 

[DiabeticSP]

What's left there to the case? I'm sort of confused, because it doesn't really feel like there is anything else to do (I don't have a whole lot of legal experience)

They have to file exactly what is being discharged, what's not, what's (if anything) being liquidated, etc.

Basically this is the "phil got chapter 7 approved" post, next is the actual chapter 7.

 

[Here Comes Mongo]

What's left there to the case? I'm sort of confused, because it doesn't really feel like there is anything else to do (I don't have a whole lot of legal experience)

Nancy has to present her final report, and the fact that it's an asset case means that she could find some assets worth liquidating (up to and including the WAKhando itself).

While the result is in Phil's favor, he's not completely out of the woods yet. If she finds nothing worth liquidating, then that's when it's time to REEEEE and Phil gets as big of a W as you can possibly get during a bankruptcy.

EDIT: ninja'd

 

[Fill Bern El]

I'm going to leave this here and hope for a hail mary.

Reasons for Revoking a Discharge
The grounds an interested party can use to request a revocation will depend on whether you filed for Chapter 7 or Chapter 13 bankruptcy.

Chapter 7 Bankruptcy
If you filed for Chapter 7 bankruptcy, the bankruptcy trustee, United States trustee, or your creditors could ask the court to revoke your discharge if you:

• committed bankruptcy fraud when obtaining your discharge and the fraudulent act wasn’t discovered until after the court granted your discharge
• didn’t disclose or surrender to the trustee assets that you couldn’t protect with a bankruptcy exemption
• refused to follow court orders, or
• made a material misstatement (which you couldn’t explain to the satisfaction of the court) or failed to turn over all necessary documents in a bankruptcy audit.

Albeit the last one being most likely, we have to throw ANOTHER hail mary on hoping that someone is interested in looking to audit his bankruptcy and look into his business costs/paypal income.

 

[AnOminous]

What's left there to the case? I'm sort of confused, because it doesn't really feel like there is anything else to do (I don't have a whole lot of legal experience)

Paying off the creditors whatever their share is, out of whatever assets are nonexempt.

 

[Agent Proper]

The writers could pull off a M Night Shyamalan and pull the "W" right from Phil's hands, but that is even for me. Still after this saga ends and Phil picks up on one of more of those post bankruptcy credit cards he will just spend like crazy while just paying the minimums off thinking that he just got away with the scam of the century by wiping away a ton of debt. He had 14 lines of credit for a reason.

Fuck the guy had to go to 3-5 banks to even get looked at for his loan on the Wakando. He learned his bad spending habits from his Mother (who still takes care of him). This Foreclosure into a Bankruptcy would have been a wake up call to any adult, but not Phil. He spent thousands on WWE jpegs, and other bullshit while putting and old vest on for his fans and pretending like everything was going to be okay.

He better hope that the IRS won't look his way.

 

[Lards and Lasses]

im disappointed he got off easy on this bit because i don't think its going to be as funny long term, but this is still kinda funny.

so idk, am i an a-log? seems to be a lot of conflation on that in this thread.

 

[Vulhala]

Meh, I'm not too bothered by all this tbh. I kind of always felt it would end this way. I didn't want it to, but it was a fun arc.

The positive though, is that while DSP's luck may actually be divine at this point, his propensity to thoroughly fuck himself over repeatedly is even stronger. This will only embolden him. As said a few pages back, he'll soon start getting those ridiculously high interest card offers through the door, and think he's bulletproof. He beat it once, right? Why not take another 4k-5k line? He can afford it. And there's that super-shiny Diamond encrusted Batista with the gold speedos pack that is only on offer THIS WEEK.

He'll be back in court within 4 years, I'm sure of it. This won't be the last time he declares insolvency. Especially now he thinks it's as easy as it probably seemed for him. We'll get him next time.

One question that I would like to ask the American 'tists on here though; Health insurance over there, in particular, seems a pretty brutal racket (not having a dig, just saying.) Could his bankruptcy affect his access to it? I imagine someone would probably still offer it to him, but would his bankrupt status affect potential premiums or co-pays? Just curious here.

 

[Very Honest Content]

Good.

 

[BSV]

DSP is so lucky that no matter how hard he is going to hell, some Angel will fuck up his paperwork and send his ass to the Pearly Golden Gates with bells on.

What a absolute unit Dave is

The only thing that would make this better is if you made one of your classic car rants about it.

 

[AkAuZtIk]

I'm going to leave this here and hope for a hail mary.

Reasons for Revoking a Discharge
The grounds an interested party can use to request a revocation will depend on whether you filed for Chapter 7 or Chapter 13 bankruptcy.

Chapter 7 Bankruptcy
If you filed for Chapter 7 bankruptcy, the bankruptcy trustee, United States trustee, or your creditors could ask the court to revoke your discharge if you:

• committed bankruptcy fraud when obtaining your discharge and the fraudulent act wasn’t discovered until after the court granted your discharge
• didn’t disclose or surrender to the trustee assets that you couldn’t protect with a bankruptcy exemption
• refused to follow court orders, or
• made a material misstatement (which you couldn’t explain to the satisfaction of the court) or failed to turn over all necessary documents in a bankruptcy audit.

Albeit the last one being most likely, we have to throw ANOTHER hail mary on hoping that someone is interested in looking to audit his bankruptcy and look into his business costs/paypal income.

Don't really want to get anyone's hopes up, but wasn't there a specific question asking about currently being in foreclosure proceedings that he answered "no" to? Also, on that same note, someone conjectured the trial being delayed by Midfirst was being specifically done to wait till after the bankruptcy procedure - not sure how the legalese is on this particular situation, but the judgement for the loss would come several months after this is finally concluded which would either be considered a completely new debt at that time or Midfirst can use that last rule to over turn the discharge.

Besides, has there been the thought that Nancy pushed it through on purpose knowing it would get over turned - thus fucking Phil and preventing a re-filing? Just curious if that's a possibility.

 

[Agent Proper]

im disappointed he got off easy on this bit because i don't think its going to be as funny long term, but this is still kinda funny.

so idk, am i an a-log? seems to be a lot of conflation on that in this thread.

Disappointment happens but if you start looking at this differently you will start to laugh more.

This is a 38 year old shut in stream who has made about 100k for years that went bankrupt with nothing to show. He chose to move across the country with his girlfriend who he supported so she could make soap, and that is just the tip of the iceberg on countless poor financial moves DSP has made (I am looking at you brand new BMW that never got its oil changed).

 

[Gotta Groom Em All]

I'm not sure why any of us should ever pay any of our credit cards off after this. Why bother being an upstanding citizen when we can squeal and make the gubment just pay for all our microtransactions for us? How much more fucked did his filing have to be in order to warrant a discharge?

I am so confused. DSP is the roach to rule all roaches.

 

[Schrödinger's Kat]

I'm going to leave this here and hope for a hail mary.

Bottom of the 9th inning. Kiwis down by 1.

2 out. Nancy James at the plate.

3 balls, 2 strikes.

Burnell winding up for the pitch.

 

[mr.moon1488]

No, because the case isn't done yet.



Yes, his credit being shot is how he got to the bankruptcy. He hit the wall of not being able to kite his debt onto new cards.



Some of this is overwrought, but he will absolutely be more boring now. He is at his saltiest when he's desperate for money and begging. Right now, he's not, and he only rarely gets salty now due to stream chat holding his dick through everything.

Lol he'll get fucked in the long run. There's no way you can rack up that kind of debt and it not catch up to you.

 

[doomlad]

Ivan Stang says it like it is, is DSP the reincarnation of J.R. Bob Dobbs? https://youtu.be/SHpppIcaK5Q?t=312

"It's not about being smart, Bob's not the smartest man in the world he may well be the dumbest man in the world, but it doesn't matter because he's the luckiest man in the world!"