Historically in the United States, bankruptcy is a term that has carried an extremely negative connotation. Those who file for bankruptcy protection are seen, mostly by themselves, as failures who could not meet their monthly obligations. Unfortunately, this is almost always an inaccurate way to think about and approach bankruptcy, as you’ll see below.Donald TrumpWhen people think of successful businessmen in the United States, many will either immediately or quickly think of Donald Trump. He’s long been famous for his aggressive business tactics and his willingness to make the ‘big deal’ that makes a huge splash with the media. Most of Trump’s success has been within the real estate field, but as anyone who’s been paying attention in recent months understands, the real estate market is in dire straits.When a market-wide crash occurs as it is right now, no one is exempt from its effects. That includes Donald Trump, whose real estate company has also fallen on hard times given the dropping values of land and property, the extreme difficulty with obtaining competitive financing and the lack of ability to sell property at a price that presents a profit to the seller.As a result, Trump’s real estate company recently filed… Read full this story
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