Get ahead of Hillary's lie about Trump bankruptcies!
Donald Trump has NEVER filed personal bankruptcy!
Law Dictionary: How is Donald Trump Able to File for Bankruptcy So Many Times?
Written by James Hirby | Fact checked by The Law Dictionary staff
People might ask "How is Donald Trump able to file for bankruptcy so many times?" The answer is "He didn't." Trump himself has never filed for bankruptcy.
His corporations have filed for Chapter 11 bankruptcy four times. By filing for Chapter 11 bankruptcy, the corporation is allowed to continue running while restructuring and reducing its debt. By allowing the business to continue, employees still have their jobs and the business is still making money. Corporate debts still need to be repaid but they may be reduced. The corporation must develop a repayment plan and corporate budget. Both must be approved by the creditors and by the bankruptcy court.
WE are talking about FOUR companies out of hundreds which Trump has made successful, and he used Chapter 11 to make them work…. yet this lying old hag says Trump will 'bankrupt' the nation…She and Bill and Obama did that! NOT DONALD TRUMP!
Here are a few of the thousands of companies we deal with every day who have used Chapter 11 bankruptcy…many of them SUPPORT HILLARY!
Just a few who have filed Chapter 11
GENERAL MOTORS - Obama's!!! Yes he used Chapter 11
Pay N Pak
SOLYNDRA….also Obama's baby…they even got millions in OUR $$
AND there was the WHITEWATER SCANDAL, run by Hillary to scam the people of Arkansas which went bankrupt along with the savings and loan who financed it!
Rubio and Cruz pulled this same lie on Trump last summer:
More good reading on Hillary/Whitewater and HER FAILED SCAMS!
Another Whitewater article
[snip]The morning after Bill Clinton’s re-election defeat in 1980, McDougal told Stewart he got a desperate call from HRC, saying, “You need to send us money. We need it right now, and we need all you can send.” McDougal remarked sourly to his wife Susan after the call that they had been subsidizing the Clintons’ share of the investment for the previous two years. The pattern continued. As Whitewater’s financial condition deteriorated, McDougal, fearing that a bankruptcy might tarnish Clinton’s political image, offered to buy the Clintons out of the deal. On four separate occasions Hillary adamantly refused, presumably because Whitewater was useful as a tax shelter, especially under HRC’s generous estimate of what constituted a legitimate deduction. At tax time, millions of middle class Americans thankfully review their banks’ reports of interest payments on mortgages. Very few of them–particularly not corporate lawyers giving tax advice to banks, as HRC was–confuse interest and principal as HRC later claimed she had.
And the lies against Trump debunked here:
When it comes to the issue of Donald Trump’s bankruptcy, we are only concerned with Chapters 7 and 11.
That’s because a Chapter 7 filing is indicative of poor financial management skills on behalf of the debtor — a red flag for voters evaluating a presidential candidate. But a Chapter 11 filing doesn’t necessarily indicate poor management. In fact, it can be seen as a tool that improves a company’s value for investors.
Here’s the difference:
Chapter 7 bankruptcy: Allows an individual to be freed of most debt in exchange for a ruined lined of credit for 10 years.
Chapter 11 bankruptcy: Allows a corporation to stay in business while it restructures its business and attempts to reduce its debt.
When Trump tweeted, “I never went bankrupt,” he was being truthful. The real estate magnate has kept good order of his personal finances.
You see, all four of Donald Trump’s bankruptcies were the Chapter 11 type. Each resulted from over-leveraged casino and hotel properties in Atlantic City. [snip]
AND it all comes down to this!
Hillary/Obama promote anarchy, the end of sovereignty, chaos.