With the election campaigns of 2016 in full swing across the United States there is plenty of talk surrounding the Republican nominee’s propensity to seek bankruptcy protection numerous times in the course of his apparently glorious and successful reign as the most important business man in the history of finance. What is the real story? Why did he seek protection and how does that constitute a solid business strategy?
The real story definitely proves that Mr. Trump has business acumen and without a doubt understands how the laws of the land benefit people like him who are smart enough to take advantage of them. In the course of his venture into the hotel and casino industry Trump has no less than 4 times taken the company to the brink of disaster.
With mounting debts and revenues incapable of settling those debts, the decision was made to file for Chapter 11 bankruptcy protection in each instance. This proceeding allowed the company to completely restructure its debts without having to go out of business. Whether you agree or disagree with the laws as written you have to acknowledge that by seeking protection Trump was able to keep the businesses viable and to keep the employees on the job.
For some the argument is that the creditors are the ones taking the hit and that may be true, but the fact remains that the decision to use the bankruptcy laws of the land to your favor is something that even his creditors have done themselves many times in the past.
If you find yourself in a bad financial situation then an Ohio bankruptcy may be your best form of debt relief. Be sure to obtain the services of an experienced Dayton Ohio bankruptcy attorney to assist you with this.