[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

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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Schmeckel

The flow of time is convoluted
As far as I understand it. He took out the mortgage so the bank can still pursue it. It doesn't matter if its burned to a crisp they still want their money.

I'm basing this story on something I heard where some guy took out a small loan to buy a boat, the boat either got stolen or destroyed but the bank still wanted their money. Basically like that "fuck you, pay me" scene in goodfellas.
There's also the idea that he likely has homeowner's insurance on the property. If just his khando burned down, he'd probably be covered for most, if not all, of the "value" of said property at the time of purchase and would wobble away scot free (as is per usual pigroach luck). Unless he found some way to waive that requirement for the mortgage, I figure that insurance would cover him should such a catastrophic event happen and they honor the original value as the amount to pay out for the loss.
 

AnOminous

there ain't no turning back
True & Honest Fan
Retired Staff
There's also the idea that he likely has homeowner's insurance on the property. If just his khando burned down, he'd probably be covered for most, if not all, of the "value" of said property at the time of purchase and would wobble away scot free (as is per usual pigroach luck). Unless he found some way to waive that requirement for the mortgage, I figure that insurance would cover him should such a catastrophic event happen and they honor the original value as the amount to pay out for the loss.

Phil stopped paying that shit a while ago. They probably are paying it themselves now. Also depends on whether the insurance has a "civil unrest" exception, as much cheap ass insurance does.
 

Schmeckel

The flow of time is convoluted
Phil stopped paying that shit a while ago. They probably are paying it themselves now. Also depends on whether the insurance has a "civil unrest" exception, as much cheap ass insurance does.
How soon after someone stops paying their mortgage does the insurance policy cease? Phil, being the completely lazy asshole that he is, more than likely just had his homeowner's insurance built into his monthly payment. Would his homeowner's insurance just stop the moment he went past the acceptable payment date?
 

actually

Local Moderator
True & Honest Fan
It's all in the paperwork. Some of it is even true.

We had some speculation that he paid his taxes with a credit card, which would likely not be discharged since it was recent. Was the one filing from the trustee all we'll see, or will she submit some kind of line-item list of which debt is being discharged?
 

darkwingosonichugorl

Let me tell you the potential of my balls.
We had some speculation that he paid his taxes with a credit card, which would likely not be discharged since it was recent. Was the one filing from the trustee all we'll see, or will she submit some kind of line-item list of which debt is being discharged?
If I recall correctly, Phil himself said on stream that he paid his taxes with a credit card. I'm too lazy to pigpiggo it.
 
There's also the idea that he likely has homeowner's insurance on the property. If just his khando burned down, he'd probably be covered for most, if not all, of the "value" of said property at the time of purchase and would wobble away scot free (as is per usual pigroach luck). Unless he found some way to waive that requirement for the mortgage, I figure that insurance would cover him should such a catastrophic event happen and they honor the original value as the amount to pay out for the loss.
Most if not all insurance policies specifically exclude riots
 

Beetus Knuckles

Scopely has one hell of a business model!
We had some speculation that he paid his taxes with a credit card, which would likely not be discharged since it was recent. Was the one filing from the trustee all we'll see, or will she submit some kind of line-item list of which debt is being discharged?
No creditors specifically challenged the dischargability of any debt, including any taxes charged to his cards, so Citi et al basically gave Dave a huge tip for his tax time begathon.
 

actually

Local Moderator
True & Honest Fan
Is someone still pinging the court case to check for new documents related to the credit card companies? I see it being checked at about 3 AM PST the past few days.
 

Prince Lotor

Oldschool 80's winged-helmet autism
Is someone still pinging the court case to check for new documents related to the credit card companies? I see it being checked at about 3 AM PST the past few days.
Yeah, I have been checking it like once a day for the last week. I just find it really weird that it's been a month since the discharge letters got sent and the court still hasn't issued a final decree and closed the case. Usually in a 'No Asset' case that happens almost immediately.
https://www.nolo.com/legal-encyclopedia/when-does-my-chapter-7-bankruptcy-case-end.html
I was just chalking it up to China Virus delays, also I figured the second I said it out-loud the court would inform Phil that in their research they found he's actually the heir to a small fortune or something.

Just seemed weird to me that the court didn't immediately issue the final decree and close his case :optimistic:
 
Yeah, I have been checking it like once a day for the last week. I just find it really weird that it's been a month since the discharge letters got sent and the court still hasn't issued a final decree and closed the case. Usually in a 'No Asset' case that happens almost immediately.
https://www.nolo.com/legal-encyclopedia/when-does-my-chapter-7-bankruptcy-case-end.html
I was just chalking it up to China Virus delays, also I figured the second I said it out-loud the court would inform Phil that in their research they found he's actually the heir to a small fortune or something.

Just seemed weird to me that the court didn't immediately issue the final decree and close his case :optimistic:

Have they been closing other cases?
 

actually

Local Moderator
True & Honest Fan
Yeah, I have been checking it like once a day for the last week. I just find it really weird that it's been a month since the discharge letters got sent and the court still hasn't issued a final decree and closed the case. Usually in a 'No Asset' case that happens almost immediately.
https://www.nolo.com/legal-encyclopedia/when-does-my-chapter-7-bankruptcy-case-end.html
I was just chalking it up to China Virus delays, also I figured the second I said it out-loud the court would inform Phil that in their research they found he's actually the heir to a small fortune or something.

Just seemed weird to me that the court didn't immediately issue the final decree and close his case :optimistic:

Are you able to see the credit company filings that MrHuth posted? If so, are there any others?
 
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