Business debt restructure does not count as bankruptcy indeed, glad to hear it.
However you may be incorrect about bankruptcy;
Trump has built an American empire from Las Vegas to New York with towering hotels and sparkling casinos. Forbes estimates he’s worth $2.7 billion. But not all of Trump’s business ventures have been constant money-makers. In 1991, 1992, 2004, and again in 2009, Trump branded companies or properties have sought Chapter 11 protection.
“I’ve used the laws of this country to pare debt. ... We’ll have the company. We’ll throw it into a chapter. We’ll negotiate with the banks. We’ll make a fantastic deal. You know, it’s like on ‘The Apprentice.’ It’s not personal. It’s just business,” Trump told ABC’s George Stephanopoulos last Thursday.
Handy when you an declare bankruptcy and limit it to different accounts, that way your suppliers take on your losses instead of you having to pay your bills with the profits from your sucessful ventures.
A tactic not available to the little guy. Legal yes, moral no.
I used to be able to secure unsecured personal signature loans for a few grand at a time, but I can't anymore.
Long sad story, my own stupid fault, my own bad decisions.
It happens. I don't blame the banks for that.
OTOH, I do blame the banks for fraudulently churning bogus mortgage loans for hundreds of thousands in real estate “loans”, that caused the housing bubble/ burst and depleted most nationwide pension plans.
Trumps deals were not that sort of thing.
If little old stupid me knows that, why don't oh so smart you?