[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

    Votes: 126 18.1%

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

    Votes: 218 31.3%

  • Chapter 13 and successfully completed all payments

    Votes: 19 2.7%

  • Complete dismissal of the bankruptcy

    Votes: 334 47.9%
  • Total voters
    697
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Unbelievable that he is still able to grift this much money each month from his little piglets. It's a testiment to his adult financial prowess that he managed to totally fuck himself with what would be a solid middle class income for most people.
 
Dumpster dived waifu said:
He's about to learn that that's not how it works. I'm sure you have to claim they exist, and later make a claim that they are business related only. The court from there can decide if they are or aren't. YOU CAN'T TELL THE COURT THEY DON'T EXIST.
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Right? I mean how its supposed to work is that he'd have to prove beyond reasonable doubt the devices are 100% purely for business use only yes?
 
He really must have stretched the truth to the lawyer and he'll blame the lawyer when this gets denied because they discover the form doesn't match real life
 
If I read it correct, not only did he claim to not own any electronics, but he also claimed to not owning a cat...... and then lists pet food etc under his expenses for 100/month.... what even is this logic?
 
How is he claiming to have $5k-$9k in expenses per year? How do you have expenses playing video games? Is he rolling the WWE mobile game into this shit too?

Also $56k in 2019 and $78k in 2018 as GROSS income. He is cooking the books to try and get that chapter 7 and keep his house.
 
So many of his numbers look so questionable here.

But by far the most questionable is:
Ordinary and necessary operating expenses -$5,243.84

He could perhaps indeed be attempting to pass his mobile game transactions as business expenses. You can do a search for "Ordinary and necessary operating expenses" and see for yourselves that these transactions definitely do not qualify.

There is a chance he could get away with it, but this is incredibly dangerous to say the least. If he has been doing this on his taxes and the IRS catches him there will likely be hell to pay.

In one sense, it does make sense that he files for Chapter 7 and loses ownership of his condos. He is not the kind of person who could really handle a Chapter 13 or Chapter 11. But he is utilizing very questionable business expenses to qualify. But he may not even qualify for Chapter 7 even if the business expenses are accepted as true.
 
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Jaximus said:
If I read it correct, not only did he claim to not own any electronics, but he also claimed to not owning a cat...... and then lists pet food etc under his expenses for 100/month.... what even is this logic?
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jasper has been eradicated. think about it: we haven't really seen him lately. phil has just been dangling a fake tail in and out of the camera's view.
 
No separate thread for analysis at this time but I'd love if we could have one for those type of posts.
  1. Chapter 7 = no more car or condo to my knowledge
  2. Clearly calling his entire condo, income taxes, property taxes, etc as a business expense which is all fraud to my knowledge
  3. Not including PayPal
  4. Claims he owns no electronics
  5. Kat's savings not included
 
Martys_not_smarty said:
Right? I mean how its supposed to work is that he'd have to prove beyond reasonable doubt the devices are 100% purely for business use only yes?
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The way it works (so far as I know) is:
1. Claim electronic exists
2. Make a claim that it exists for business purposes only so the court can't take it away from him
3. Auditor checks the validity of both previous steps
 
SoapQueen1 said:
No separate thread for analysis at this time but I'd love if we could have one for those type of posts.
  1. Chapter 7 = no more car or condo to my knowledge
  2. Clearly calling his entire condo, income taxes, property taxes, etc as a business expense which is all fraud to my knowledge
  3. Not including PayPal
  4. Claims he owns no electronics
  5. Kat's savings not included
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I'm going to make a new thread soon.
 
He must surely know we.ens are gonna snitch on his every lie and exaggeration ? Exceptional.

Also: what a Brexit day gift. Our NigelOfUK will be raising a glass or ten...
 
RemoveKebab said:
I have been dreaming of this moment -where we know his true financials - for years. This is like Chrismas Morning when I was 8.
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We'll have to wait for the courts to find that out lmao. So much of his filing is just blatantly a lie.
 
Holy shit I'm not sure what I was expecting with these documents but I wasn't expecting him to bullshit his way through bankruptcy this blatantly, how can he claim not to have any electronics and think he's gonna get away with it, the absolute mad lad! The bankruptcy saga is looking fantastic
 
Windows 98 said:
jasper has been eradicated. think about it: we haven't really seen him lately. phil has just been dangling a fake tail in and out of the camera's view.
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I mean Jasper was on stream head and all on yesterday’s late night stream. So unless he decided to strangle him overnight. The cat’s still there.

EDIT: maybe he’s claiming Jasper as his son instead of pet....
 
Gay Frog said:
Holy shit I'm not sure what I was expecting with these documents but I wasn't expecting him to bullshit his way through bankruptcy this blatantly, how can he claim not to have any electronics and think he's gonna get away with it, the absolute mad lad! The bankruptcy saga is looking fantastic
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My lawyer said it was ok dood!
 
He's out of his fucking mind if he thinks he can hide assets from the bankruptcy trustee. They do this for a living and deal with people much more clever than Phil. The court trustee will absolutely look at all sources including online to determine the truth of his filing. For someone with such a massive public presence online it's not going to be difficult at all. Phil's own videos will prove that he is lying. Phil literally filmed his own assets, electronics, collectibles, etc. and uploaded them, and is now lying to a bankruptcy court about their existence :story:

Hiding Assets in Bankruptcy

It’s never a good idea to try to hide assets when you file for bankruptcy. If caught, you won’t receive a discharge, the Chapter 7 trustee will still sell your nonexempt property, and you might end up facing a criminal charge.
www.nolo.com www.nolo.com
www.lawyers.com

What Does the Bankruptcy Trustee Look for in Bank Statements?

The bankruptcy trustee will use your bank statements to verify your income, creditor payments, and other transactions.
www.lawyers.com www.lawyers.com
 
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His stream certainly does not scream "$5,000+ per month in production value".

One thing I wonder is if his Twitch subscriptions are reported on his 1099 as the full $4.99 price each and then he needs to report what Twitch takes as an expense, or if they are reported as the portion he actually receives. This would only put a small dent in the business expenses he is reporting though.

I wonder similarly about his PayPal donations.
 
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