DSP's Loan & Savings Company -

  • ATTENTION: The National Security Administration has made a press release regarding a Windows 10 remote execution exploit that any website can take advantage of. It is one of the worst exploits that has ever been found. Update Windows immediately.

    NSA Press Release, "Am I vulnerable?"

actually

Supervisor
True & Honest Fan
kiwifarms.net
@SoapQueen1 Is it possible his "plan since April" is related to that hardship letter, and is it possible that the bank said "if you make X payments of $Y" or "if you pay down the principal to $X" that they would allow a short sale?
 
  • Like
Reactions: Mooty Mooty Mooty

SoapQueen1

speed bump, failed business, retired tism wrangler
True & Honest Fan
Retired Staff
kiwifarms.net
@SoapQueen1 Is it possible his "plan since April" is related to that hardship letter, and is it possible that the bank said "if you make X payments of $Y" or "if you pay down the principal to $X" that they would allow a short sale?
Yeah but I doubt that's what happened. If I had to wildly speculate I'd say $1800 sounds an awful lot like the fees for a bankruptcy attorney.
 

actually

Supervisor
True & Honest Fan
kiwifarms.net
Yeah but I doubt that's what happened. If I had to wildly speculate I'd say $1800 sounds an awful lot like the fees for a bankruptcy attorney.
That would make sense. It's just hard to believe a mortgage holder would buy his hardship bullshit given that his tax returns would almost certainly show income of >$100k. I'd love to look at his 2018 debt and 2019 debt lists.
 

harbinger

DarksydePhallus
kiwifarms.net
Nahh perfectly legal as far as I know - just a quick easy way of getting cash flow back.

Worked for a dude in a small business once and his bimbo semi-exceptional Ukrainian wife was treasurer for the entire business and his 18 year old son was VP just so he could siphon tax free cash back to the homestead.

But I guarantee that’s what pools done here - there is literally no other reason to have her pay slips on his laptop - even if she sends him the payslips from the ???job??? She does IRL that’s kinda weird to save them on your desktop like that..
Pays his wife a salary from the “business”, she still won’t help with the bills, lol
 
  • Like
Reactions: Mooty Mooty Mooty

Kheapathic

Wan wan, awooo!
kiwifarms.net
As an example of how good Phil is with money, look at his story of going to Evo. He says he spent his entire life savings and took out a credit card and maxed it out for the event.

Figure out the costs. A round trip flight to Vegas was probably a couple hundred. Evo entrance and registration less than a hundred. Hotel for let's say three nights, under three hundred. He said he didn't gamble or leave the hotel so no expense there. Food for one person, knowing Phil, three hundred. Courtesy shuttle from the airport. No rental car.

So at 23 years old, Phil went into debt after spending his life savings and maxed out a credit card for a $1000 trip.
Anyone know what the payout would have been if he'd have actually won the event? I'm pretty sure it wasn't lucrative enough to wipe out your life savings and then some.
Given the years he was going, even at its peak; the payout wouldn't have been more than a few thousand at best. The FGC has no doubt been one of the longest running competitive scenes, but has always maintained its poverty status while things like Counter Strike, Quake, and other games were taking off in the early days. This day and age, you see pretty nice (not big) numbers for games, but the payout always vary. You have a good portion of entry costs per player to go into the pot, and now-a-days, you'll have sponsors or game devs actually kick in money to a game's pot. In the earlier days, it was nowhere near as big as it is now; it was always grass-roots driven, had people on websites and IRC chats. Gonna keep a long story short, but the thing is, it was a lot smaller back then and the money being thrown around was smaller than it is now, and the money now is a pittance compared to the big e-sports titles. Then there's also the whole deal of where you get money; Top 8 is where the money is, and it's divided between them. For as long as I can remember, and they talked about changing it after this years EVO; the split was 1st-60%, 2nd-20%, 3rd-10%, 4th-4%, 5/6th-2%, 7/8th-1%. So even at his best, he'd get 4% of the pot for his Super Turbo run in 2005. Seeing how it was a long time ago, there's no way in hell he broke even on that trip; and while I'm not going to try and go through archives, he did win qualifiers on the East Coast, but I'd wager that EVO win was the best payout he had; unless he'd bully kids at locals for lunch money, which is doubtful. Even if he did get the 60%, in 2005, he may be able to break even, maybe, if he was frugal with his spending.
 
Last edited:

That Hedonist Nerd

Pig Whisperer & Boomer
kiwifarms.net
What a fucking joke. His 'hardships' are his own doing and his life isnt 'hard'. Hes just lazy and entitled
True, but 78% of people in America live paycheck to paycheck.
Dave is different imho, because his hardship was in his forecast over 5 years ago and he should have taken action then.
Had he declared bankruptcy then, and went with chapter 13, he'd be done with his payments this year. Next year all of his debt would have been discharged and everything would be gravy.

If I had to wildly speculate I'd say $1800 sounds an awful lot like the fees for a bankruptcy attorney.
Can confirm that's roughly what we paid.
 

Freshtodeath

Kwhality Khantent
kiwifarms.net
In 2013 he was most likely debt free or close to it. In 2014 he bought his condo for what? 250k? Based on his unwillingness to actually pay for his condos I assume he didn't go with the 20 percent down payment. So he probably paid 30k or something. So he went from good situation into massive debt again in matter of 2 years. He also took out a business loan after copyright saga of 2015. If he had just stayed in CT until idk 2020 he'd he very wealthy right now.
 

Adamska

Last Gunman
True & Honest Fan
kiwifarms.net
In 2013 he was most likely debt free or close to it. In 2014 he bought his condo for what? 250k? Based on his unwillingness to actually pay for his condos I assume he didn't go with the 20 percent down payment. So he probably paid 30k or something. So he went from good situation into massive debt again in matter of 2 years. He also took out a business loan after copyright saga of 2015. If he had just stayed in CT until idk 2020 he'd he very wealthy right now.
Or if he just put down money to give the CT Kahndo the equity so he can sell it, recoup some cash, and then put like 20% down on the WA Kahndo he'd have saved literally hundreds of bucks (over 1k easily) a month freed up for tendies and lotto tickets. But this is Pig, who autistically did his school work without trying to understand it at all (to the point I suspect mommy and daddy actually helped him a lot like usual) and proceeded to prove why sometimes kids need the shit beaten out of them physically or metaphorically to slap some humility or life perspective on them.
 

actually

Supervisor
True & Honest Fan
kiwifarms.net
Yeah but I doubt that's what happened. If I had to wildly speculate I'd say $1800 sounds an awful lot like the fees for a bankruptcy attorney.
Remind me what he could try and do in bankruptcy? I thought there was one version of it that he would have a harder time achieving due to the amount of income he has, but I can't remember.
 

That Hedonist Nerd

Pig Whisperer & Boomer
kiwifarms.net
Remind me what he could try and do in bankruptcy? I thought there was one version of it that he would have a harder time achieving due to the amount of income he has, but I can't remember.
With chapter 7,you discharge your debts. They just go away. That's hard to qualify for.
Chapter 13 is a debt repayment plan. You pay X per month for 5 years, after which any remaining amount is discharged.

Basically, bankruptcy is saying you have more debt then income and at the current rate you'll never be able to pay it back. So you just discharge your debts. They are no longer yours, no one can come after you for them.

Let me see if I can find some of the stuff the lawyer had is fill out


EDIT:
@actually The first step in bankruptcy is the 'means test'. We didn't pass it, guarantee DSP won't pass it. It's a set of questions that you answer the determines if you can file Chapter 7. Here's a link to NOLO about it including the actual forms.
There's form 122A-2 which is a simple "Here's my income" overview, then there's form 122A-1 which lets you go into more detail - some high earners can qualify for Ch 7 but only under certain situations, like medical bills.

Another advantage of filing bankruptcy is when you do it you are essentially hitting the global pause button. All foreclosures, repossessions, garnishments, etc are stopped. You don't pay your mortgage, car payments, cc payments, etc until after the proceedings are over - some people use it as a way of buying time.
 
Last edited:
Tags
None

About Us

The Kiwi Farms is about eccentric individuals and communities on the Internet. We call them lolcows because they can be milked for amusement or laughs. Our community is bizarrely diverse and spectators are encouraged to join the discussion.

We do not place intrusive ads, host malware, sell data, or run crypto miners with your browser. If you experience these things, you have a virus. If your malware system says otherwise, it is faulty.

Supporting the Forum

How to Help

The Kiwi Farms is constantly attacked by insane people and very expensive to run. It would not be here without community support.

BTC: 1DgS5RfHw7xA82Yxa5BtgZL65ngwSk6bmm
ETH: 0xc1071c60Ae27C8CC3c834E11289205f8F9C78CA5
BAT: 0xc1071c60Ae27C8CC3c834E11289205f8F9C78CA5
LTC: LSZsFCLUreXAZ9oyc9JRUiRwbhkLCsFi4q
XMR: 438fUMciiahbYemDyww6afT1atgqK3tSTX25SEmYknpmenTR6wvXDMeco1ThX2E8gBQgm9eKd1KAtEQvKzNMFrmjJJpiino