DSP Bankruptcy Talk with Rekieta -

Lilly Philly Burnelli

“Hello Jew! Now turn on the ovens!” Linger longer!
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I want to know how Phil can switch things around on his forms in a legal way as long as it's ”close” to what he owes. Why wouldn't you just be honest about that to begin with? He also said yesterday he gave the lawyer the information and they filled it out so he has no idea if some of the information is incorrect. So why did he sign his name at the end of the document?

(Assuming Phil was telling the truth in ALL these instances).
 

Near

WELCOME TRUE BELIEVERS-
True & Honest Fan
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DSP as a cow is very prone to rambling for hours on end to generate that delicious revenue. So I'll point you to possibly the only worthwhile channel that's documenting this nonsense.

These are basically his responses to the bankruptcy thread witout any faggy edits and memes.



In his ramblings, he essentially admits that he called up this bankruptcy lawyer he's working with. He questioned her about the individual problems the users of Kiwifarms have pointed out, and was supposedly told that everything is fine, and can be amended at a future point in time.

He is a man who is half a million dollars in debt. Despite that, he is still very adamant about flexing on those gosh darn detractors. As declared by him, and correctly guessed by the users here, he earns about $10.000 monthly through his combined revenue sources of Patreon, Twitch and YouTube. He believes that he will be in the clear after a few years. This should be pressed on. DSP is a man who despite his declining position, pitiful YouTube views and spiraling popularity, is able to earn One Million Dollars within a decade.

At the moment, his priority is to not lose the Washington gated community house. In his weird, provocateur mentality, it means that the detractors will win if he has to move out of it. So in turn, as a means of sustaining his chad mansion, he stated that he is unable to conduct his YouTube/Streamer business without the "office", which is part of the Renton Washington property.
 
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actually

Local Moderator
True & Honest Fan
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I'd love to hear Nick's opinion on the following:

1) Phil claiming upwards of $10,000 a month in expenses, with roughly half being "household" and half being "business" expenses. For context, he has not purchased a new system himself since the Nintendo Switch (March 2017). He got gifted the money for a 4K TV and PS4 Pro in early 2019. He has otherwise not made any significant purchases to "upgrade" his stream--his laptop is old enough it has either Windows Vista or Windows 8. He has a PC that he bought in 2014. The general theory here is that he's claiming things like the mortgage payment for the WA condo under that, but I'd love to know if there's something "business" related that is not being considered. In addition, Phil claimed $9000+ in business expenses for July 2019, and a little over $5000 for each month after that until December 2019. Is that a huge red flag for the court, especially given that that amount of "business expenses" along with his "household expenses" just happens to be enough to get him under the threshold for Chapter 7 filing?

2) Should Phil's Paypal account, which all tips from Twitch go through before being available to transfer to a bank account (or maybe be spent directly), have been listed on his bankruptcy petition, and if so, what are the ramifications of him not doing so?

3) How much detail is the trustee likely to ask for from Phil with regard to his bank and paypal accounts and the money that moves into and out of them?

4) Of the creditors listed, which ones are most likely to believe the money's worth pursuing, actually stay on Phil's ass, and ask the court to be paid?

5) Phil is claiming that he's going to owe money to the IRS (again) for 2019. Given that he's already on a payment plan for his 2018 taxes, which he does seem to have kept up with, what is the IRS most likely to do if he asks for another payment plan, especially in the context of the upcoming foreclosure and bankruptcy proceedings?

6) Given that Chapter 7 is typically utilized by people who actually have little to no income, how is Phil's stated gross income of ~$110,000 for 2019 (and presumably higher for 2018 ) going to be viewed by the court?

7) Do judges look unfavorably on things like Phil's apparently gacha mobile game spending, which he appears to be continuing even now?

8 ) Phil has claimed he paid state and federal taxes with credit cards, though I don't know how much. Is that credit debt able to be discharged?

9) Phil/his lawyer gave a valuation of his WA condo based on Zillow, less 9% for a realtor. The value is set such that it just falls under the WA state exemption of $125,000 (valuation of $379,000 - 9% to get $344,890. Mortgage is at $227,448, so the difference is $117,402). Will the judge/trustee/creditors challenge this valuation, given that neighboring units in the same community have sold for up to $450,000+?

10) Phil states that his car (2017 Toyota Corolla, purchased new) is worth $15,853. The state exemption is something like $3,250. Is there any chance he keeps this car, or will he be made to sell it and purchase something used? If it matters, it's the only car he and Kat have.

11) Phil stated that he has no electronics or collectibles. Both of those things are false on their face. He also stated that he doesn't have a sole proprietorship business (Page 4, Part 3, Question 12), despite not only being registered as one in the state of WA (Burnell Productions), but claiming the aforementioned $5000+ in business expenses. Is there any legitimate reason he would report it this way, or did he/the lawyer just fuck up? Further, will he be dinged for this in some way beyond a wrist slap from the judge/trustee?

12) Is there any advantage or disadvantage to Phil classifying all his credit card debt as "consumer debt" instead of placing any of the debt with his business? Or does it not matter since it's a sole proprietorship?

13) On Page 36, Part 4, Question 9, it asks if he was a party in a lawsuit, court action, or administrative proceeding, and Phil put no. A foreclosure case has been filed against him in CT for the CT condo he stopped paying on in April 2019. Given that Phil did not respond to the lawsuit/court case, is he considered a party still? Similarly, in Question 10, it asks if any of his property has been repossessed, foreclosed, garnished, attached, seized, or levied? He also chose "no" there. Is that considered correct, if only because the foreclosure case is still ongoing?

14) On Page 37, Part 5, Question 13, it asks if, within 2 years before filing, Phil received any gifts with a total value of $600 or more. As mentioned above, he did claim to have been gifted (and has maintained said claim) a 4K TV and PS4 Pro by the same person via money sent specifically for their purchase. I don't recall the exact price of the TV, but I think it was $400 or so. The PS4 Pro was also new, so I'm assuming it cost more than $200. If he received more than $600 explicitly for their purchase from a single person, does that fall under the gifts they're asking about here?

15) On the Monthly Income and Expenses statement, it only includes 6 months of income and expenses (July - Dec 2019). That seems like a pretty short time period to try and determine whether or not he and Kat meet the level required for Chapter 7 filing. Is that standard, or is that a trick being pulled to try and get him under the bar for Chapter 7?

16) In honor of @myone, on Page 12, Part 3, Question 13, it asks whether Phil owns any non-farm animals and gives cats an example. Phil checked "no", despite literally multiple videos of his cat on stream and claiming $100 for pet food in his monthly household expenses. This isn't a huge thing, but will it cause the judge/trustee to be less trusting of the other, more important information when Phil appears to be lying about something as small as this and submitting forms/pleadings that are not self-consistent?

Edit to add: If you guys want some videos to reference while talking about this, I'm sure people here can help track some down. There's a number of them in the Analysis/FAQ thread related to things like his collectibles, electronics, and cat.
 
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Christ Cried

All of my posts are in Minecraft
kiwifarms.net
I haven't tuned into a Rekeita stream since like September, has he turned into a complete retard like every other streamer yet?
 

darkwingosonichugorl

Let me tell you the potential of my balls.
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I'd just like Nick to try explaining what the bankruptcy lawyer is attempting to do with the obviously fraudulent and incorrect information on this claim. Others will ask better questions.
 

Disheveled Human

Imagine Jerking off to Japanese mens art
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I'd just like Nick to try explaining what the bankruptcy lawyer is attempting to do with the obviously fraudulent and incorrect information on this claim. Others will ask better questions.

From what DSP claimed is that he is currently going through the "discovery" phase where information given is subject to change so i doubt DSP is doing anything illegal he is just seeing what he can legally get away with, although being almost 500k in debt the courts will probably look to bury him as best they can.
 
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LavosReee

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Is this bankruptcy filing affirmation that he is solely responsible for these debts and incurred them without duress? (odd question but we know how DSP like to blame the 'tractors)

Will the health of his business (subs, views, trends, etc) make a difference in the process or just money earned?
 

myone

kiwifarms.net
Dos:
* everything @actually said: Do the math and focus on Phil's financial situation
* he seems to own a lot of equity in his house? How can he possibly keep it?
* what expnses can he claim as business expenses? How do you calculate the percentage for office/electricty/heating from the private household vs business.

Don'ts:
* talk endlessly about whether he owns a cat or not
* focus on Kat and her part time job and how little she earns
* go through the whole 50 page document one by one, as if reading it for the first time. Focus on the juicy bits and prepare interesting parts in advance.
 

tzgnilki

kiwifarms.net
his income for 2019 was around $50k

his income for the last 6 months of 2019 was also $50k

how bad does this look
 

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3119967d0c

"a brain" - @REGENDarySumanai
True & Honest Fan
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Nick dropped the ball here. He should've named the episode as: "Null Feeds Me Information About DSP Bankruptcy Documents"
Um, it's called LEADERSHIP, thanks!

He couldn't very well title it 'Nick Rekieta is the back of a human centipede being fed information and smart observations by Joshua Moon that Moon's loving fans on the Kiwifarms have assisted him by autistically gathering while they both enjoy a good conversation'.
 
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RemoveKebab

Ssssshhhhh I said ssssshhhhhhh. Tee Hee!
True & Honest Fan
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Will DSP'S creditors have the ability to request checking/savings account statements from him? Are those statements part of public record of the bankruptcy?


What is the penalty for DSP submitting fraudulent bankruptcy statements?

How can someone claim the same expenses for both personal and business? This would have to raise red flags immediately.

His lawyer looks like a bankruptcy mill. Is there a penalty against the lawyer for submitting fraudulent bankruptcy documents?

DSP fraudulently lowered his net income to qualify for Chapter 7. Can you explain the difference between Chapter 7 and Chapter 13? Why was Phil willing to commit fraud to avoid Chapter 13?
 
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