Although Donald Trump has been in the news recently for making some disparaging remarks during his presidential campaign, there is no denying that he has been successful when it comes to generating money with his business activities. 
With this in mind, recently the Huffington Post published a column about the power of bankruptcy and how it has helped Trump in his business ventures and how the same laws can protect other individuals. In the column, which breaks down a Twitter exchange Trump had with a follower, the business mogul describes how “almost every major dealmaker has used the bankruptcy laws as a business tool.”
Through his business dealings, Trump has filed for bankruptcy multiple times. Although these bankruptcy filings are business related (Chapter 11), they show how any form of bankruptcy filing can help you eliminate or reduce debt.
In the Huffington Post column, the author argues that the strategies used by businesses should also be used by individuals, through Chapter 7 bankruptcy or Chapter 13 bankruptcy.
“Filing bankruptcy is a smart and advantageous tool for people to consider, just like Donald Trump did for his businesses, to allow them to move forward financially,” the Post reported. “And if we needed the poster child that fact is true, just look at how the personal wealth of [Trump] has grown using the benefits of bankruptcy.”
Speaking to Our Lewisville Bankruptcy Attorneys about Your Debt Complications
Just as it allows businesses to escape certain debts and reorganize financially, personal bankruptcy filings allow individuals a chance to start over economically. Much like a Chapter 11 bankruptcy, Chapter 13 and Chapter 7 bankruptcies stop collection attempts, halt foreclosures and allow people to eliminate or restructure debt.
If you have tremendous credit card debt or medical bills, an out of control mortgage payment or other financial issues that are causing you stress, speak to our Lewisville bankruptcy attorneys. You can reach us by calling (972) 315-6222 or by using the case review form located on this page.
Our attorneys can help you start over financially and escape the burden of overwhelming debts through bankruptcy.
Shuster Law Firm PLLC – Lewisville Bankruptcy Attorneys
