Quote:
Originally Posted by EDnurse
No.
A bankruptcy means you don't know what the heck you're doing. Otherwise, more corporations would do it.
Now, becoming POTUS to strong arm people, and use insider info to line your pockets, is clearly brilliant.
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A bankrupsy means protection from debtors, thats all. It doesn't mean your business is dead. You file it to stop the collection of debt if they are outstanding. It gives you time to organize your finances and show your debtors whether your business can continue or not. If not, a judge can grant debt release and any collatoral used to secure the loan is forfeit to the creditors.
Filing does hit your credit rating and coming out of it can be good thing if your business plan is sound. Obviously you never study business in college.
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