[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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MirnaMinkoff said:
Well we now know why Phil continues to whale out on sweaty bejeweled wrestler men - he thinks it’s all free now. All the money wasted on wrestling levels and other gatcha games will disappear.

Looking at Phil’s income, his non-existent business expenses, did he really manage to bankrupt himself with mobile gatcha games? Most of the debt is on CC. He isn’t traveling or buying luxury goods. Did he dump a significant amount of money he didn’t actually have on mobile games, and then start paying absurd interest rates on it?
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I think you have the cause and effect reversed. I think he spends money on stupid gacha games because he's bankrupt, not the other way around.

Go to a casino at 1pm on a Wednesday and what do you see? Old people. You know why old people frequent casinos? Their lives are fucked and they don't have the normal endorphin releases like sex and exercise. Gambling and the bing bing wahoo stuff at casinos targets the same parts of the brain having an orgasm does. We know Phil doesn't fuck, and he doesn't work out, and he's probably anxious or depressed over his completely FUCKED financial state. It makes perfect sense that at the current stage in his life he would spend obscene amounts of money on what is essentially e-gambling minus the potential to win money.

Now this is all just speculation; monday morning quarterback, but people are willing to do absolutely insane stuff to get a fix when they're down.
 
I'm not experienced with anything in regards to the bankruptcy process, so I have a question for anyone who's more knowledgeable: What happens when a person filing for Chapter 7 bankruptcy is caught fabricating information on the sheet? Is the information looked over before it's taken to consideration? Will the courts try to make contact with the people he owes money to, or do they require a statement that shows his recent expenses?

Does anyone know? I'm really interested, and I find this entire debacle fucking hilarious.
 
Did anyone else notice that he put down 15,000 in taxes? I think it was federal taxes. I'm still not sure how he thought he could skate the SE tax. Everyone that is self-employed, unless noted otherwise, pays the SE tax.

This also makes me think of all his comments relating to how he operates his youtube/Twitch channel. He keeps saying this is a full-time job for him but he sucks at it. He thinks that being "real" and his model of variety streaming or whatever it is, works. It doesn't.

If he did the things that he criticizes other content creators for, like making edited videos, getting sponsorships, shilling a product every now and then, he would be worth a lot and not be in this situation.

He really is just bad at running a business in general.
 
xenomorph said:
Hey guys excuse my tism but wouldn't his man husbando rasslin games considered gambling debts?
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No, gatcha game spending isn't legally recognized as gambling. For it to be legally recognized as gambling it would also have to be legally regulated as gambling by a gaming commission or something. Phil is aware of this. Listen here (look, LISTEN!) as Phil explains this while getting his panties in a twist that he can't legally write off his mobile game addiction spending as gambling debts. Timestamped at 20m36s
 
Mask_de_SMITH said:
I'm not experienced with anything in regards to the bankruptcy process, so I have a question for anyone who's more knowledgeable: What happens when a person filing for Chapter 7 bankruptcy is caught fabricating information on the sheet? Is the information looked over before it's taken to consideration? Will the courts try to make contact with the people he owes money to, or do they require a statement that shows his recent expenses?

Does anyone know? I'm really interested, and I find this entire debacle fucking hilarious.
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Read the LLP thread started by @SoapQueen1. Short version is that he could be booted out of the bankruptcy process altogether, which would mean it's open season for all his creditors. Technically, he could be charged criminally, but that's pretty unlikely.
 
actually said:
Read the LLP thread started by @SoapQueen1. Short version is that he could be booted out of the bankruptcy process altogether, which would mean it's open season for all his creditors. Technically, he could be charged criminally, but that's pretty unlikely.
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Why is it unlikely he will be charged criminally?

Correct me if I'm wrong but doesn't it seem like he's hiding his Paypal from the court? Isn't that a pretty massive deal? Isn't it also likely then that he's hiding that from his Federal Taxes too?
 
Mask_de_SMITH said:
I'm not experienced with anything in regards to the bankruptcy process, so I have a question for anyone who's more knowledgeable: What happens when a person filing for Chapter 7 bankruptcy is caught fabricating information on the sheet? Is the information looked over before it's taken to consideration? Will the courts try to make contact with the people he owes money to, or do they require a statement that shows his recent expenses?
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Depends who figured it out when and what they do. I'd think the credit card companies are going to be, like Phil himself, doing the bare minimum to scrounge out whatever money is easily obtainable and doing little more, while the mortgage holders might be more aggressive, having more money at stake. I think the Connecticut mortgage holder is likely to file to have him kicked out of bankruptcy and, in the meantime, to have the stay lifted so they can foreclose immediately.

PutridElephant said:
Cheaper not to.

And American courts prefer not to throw functional re.tards into jail.
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Throwing him in jail won't make them any money. They actually want him to be in as good financial shape as he can be, making money for them. He is now their paypig and they want their paypig fed so he can pay them.
 
actually said:
Read the LLP thread started by @SoapQueen1. Short version is that he could be booted out of the bankruptcy process altogether, which would mean it's open season for all his creditors. Technically, he could be charged criminally, but that's pretty unlikely.
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I'd assume any of these documents are signed "under penalty of perjury", right?
 
TheKatIsNowGone said:
Why is it unlikely he will be charged criminally?

Correct me if I'm wrong but doesn't it seem like he's hiding his Paypal from the court? Isn't that a pretty massive deal? Isn't it also likely then that he's hiding that from his Federal Taxes too?
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He could basically argue "I made a mistake" and it's much much simpler in both time and cost for the court to either tell him to fuck off (and let the creditors loose on him) or have him fix the mistakes.

MelloYello said:
I'd assume any of these documents are signed "under penalty of perjury", right?
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They are.
 
actually said:
He could basically argue "I made a mistake" and it's much much simpler in both time and cost for the court to either tell him to fuck off (and let the creditors loose on him) or have him fix the mistakes.
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I just have such a hard time believing that when they have something like him potentially hiding a whole source of income. I mean that's a bit beyond a simple mistake. Like, you don't forget you were actually making about $5000 more than you put on the forum, and I don't know any court that will buy that it was a mistake. I mean maybe if the judge is a fucking boomer.
 
WeeblesWobble said:
I really hope he lied to the Lawyer and/or filled this out himself, because if not he better bring Vaseline to the proceedings. I can sense an audit coming from the IRS. If he files taxes like he filed this paperwork then they are going to come knocking with a bigger bill. Talk about playing with fire.
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Someone should mail some to Phil. Be the least we could do seeing as he is actually in a legit crisis for once. Let's spare him the few sheckles and help 'ease' the process.
 
TheKatIsNowGone said:
I just have such a hard time believing that when they have something like him potentially hiding a whole source of income. I mean that's a bit beyond a simple mistake. Like, you don't forget you were actually making about $5000 more than you put on the forum, and I don't know any court that will buy that it was a mistake. I mean maybe if the judge is a fucking boomer.
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The thing is, he doesn't appear to have lied about his actual gross income. The numbers in his income filing (the short 5 page one) match very closely with my estimations. Where he's fucking up is listing his NET income (Gross income - Expenses) as his gross income. I've got some of that covered in the Analysis thread now.

But the Paypal account is nowhere to be found in his listing of accounts. Based on the idiocy contained within the bankruptcy filing itself (again, see Analysis thread), I think Phil filled it out himself after talking to the lawyer. But there's no way she actually read through it in detail, or stuff like saying he isn't a sole proprietor while also listing his business income and expenses wouldn't have gotten through.
 
Pargon said:
"...this is the debtor's only visit to the courthouse"

That's gonna be a long fucking hearing.
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Business Degree Phil will educate them, don't you worry about that. See all these lawyers and IRS people are book smart, not street smart like Phil. They don't get how shit in the real world works. And if they don't want to listen to reason then Phil will take it up a notch. They don't know who the fuck they're dealing with. He's the King of Hate, aka leader of the 88 Hate Army, and he's 100% every Phoenix Wright game. Those fucking nerds are unlucky because this IS real life and Phil is gonna pimp slap the shit out of them for coming at him like that, legally of course.
 
TheKatIsNowGone said:
I just have such a hard time believing that when they have something like him potentially hiding a whole source of income. I mean that's a bit beyond a simple mistake. Like, you don't forget you were actually making about $5000 more than you put on the forum, and I don't know any court that will buy that it was a mistake. I mean maybe if the judge is a fucking boomer.
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He didn't and people need to stop with this if they haven't actually read the forms. He disclosed all of his income. He didn't hide $5K of income, he just lied and said he had $5K of expenses.
 
SoapQueen1 said:
He didn't and people need to stop with this if they haven't actually read the forms. He disclosed all of his income. He didn't hide $5K of income, he just lied and said he had $5K of expenses.
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Okay so there's no missing 5k, fine, but he still clearly tried to hide his Paypal which was my main point. A whole missing source of income isn't a small deal right?
 
TheKatIsNowGone said:
Okay so there's no missing 5k, fine, but he still clearly tried to hide his Paypal.
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Like I said, based on everything else that he fucked up in the documentation, I'm chalking this one up to a combination of lazy and stupid. He probably thought "Well, Paypal's not my bank cause I don't have a credit/debit card with them, so I don't have to list it!"
 
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