In many cases, that is not true. It depends upon the circumstances, including the amount of corporate assets that are available in case of default, the borrower's negotiating skills, and how bad the lender wants to do the deal.
Trump is not being honest in his statement he did not file bankruptcy personally when he owns the corporation. He is the corporation.
A privately held corporation is separate and distinct from its shareholders if formalities are observed. To insist otherwise shows a vast ignorance about business law.
And before I get flamed, note that I don't care whether Trump or Cruz is the nominee. I'll vote for either. Just hate to see FReepers lie to promote their candidates of choice.
I do not care what the business law is, it was acknowledged on this site that donnie was able to include millions of his personal debt into the so called corp. bankruptcies. He gets it both ways, us little people do not.