Anonymous
Anonymous asked in Business & FinancePersonal Finance · 1 month ago

How was Donald Trump able to file for bankruptcy in 1991, 1992, 2004, and 2009? ?

I thought you had to wait 7 years.

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  • 1 month ago
    Favourite answer

    Donald Trump has never filed for personal bankruptcy.

    DT has however started many businesses which ended up filing for business bankruptcy.

    Each business is its own entity so each one can file bankruptcy when its finances reach the tipping point, regardless of the fact that other businesses with the same primary owner have also recently filed.

  • garry
    Lv 6
    1 month ago

    as obama for the 2009 answer , he was president while trump was in the democrat party ...funny you forget he was a democrat , dont you , selective memory loss !!!

  • John
    Lv 7
    1 month ago

    Rich Americans are not treated the same as the rest of us.

  • 1 month ago

    Trump has never filed for bankruptcy in his name. If a person owns numerous incorporated businesses, each one is a legal separate entity and may file bankruptcy on its own according to law. Trump took advantages of this loophole as many billionaires have alwaya done. It's all perfectly legal.

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  • L
    Lv 5
    1 month ago

    Donald Trump has never filed for personal bankruptcy, however, some of his businesses have.  As for the 7-years...........that only means a person has to wait      7-years before they can apply for a credit card.

  • 1 month ago

    You have to wait before filing for the same person.  But he was filing for his businesses (not for himself as an individual), and it wasn't the same business every time.

  • 1 month ago

    He did not file personally.  I believe it was some of his businesses that were not successful.

  • 1 month ago

    Several of this businesses have filed bankruptcy over the years.  However, I do not believe that he has ever personally filed bankruptcy.  Though, that may be coming in 2024.

    Another shady scammer, Robert Kiyosaki, bankrupted one of his businesses a few years ago.  Yet, he is still out there shilling is crap.

  • 1 month ago

    I'm pretty sure personal and business/corporate bankruptcy have a different set of rules.

    Businesses go bankrupt every day.  That doesn't mean the person owning the company goes bankrupt too.

  • Anonymous
    1 month ago

    it was at different ones of his casinos , not personal bankruptcies . he did it  to break contracts with the service staffs , so he could pay them less  ( yet never cut his  own personal profits ) . 

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