Let me tell you about that "debts ... may be reduced" statement you blithely, but accurately, throw out in Trump's defense.
A dozen years or so ago the company I owned sold around $400 in services to a Connecticut company. After the service was provided, we billed them several times with no success. Finally about six months after doing the work, a fat envelope arrives from a Connecticut law firm. The contents advised me that the company had filed for bankruptcy and instructed me as to the court clerk's address, etc. if I wished to have my attorney file an appearance on my behalf.
I of course ignored it. The first couple of hours of discussions with my attorney would have set me back more than I could possibly have recovered.
Over the next three or four years I got another letter every for or five months from the Connecticut lawyer updating me on the status of the proceedings. Finally, after a dozen letters and the passage of almost five years, a check arrived discharging the debtor firm of it's obligations to me. The check was for nine dollars and change.
Your post is irrelevant. What you personally experienced has NOTHING to do with 4 of hundreds of Trump companies who used REORGANIZATION. Show us what those got paid, then we can talk.