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Stressed Families Can Take A Card From Trump Casino

By Cathy Moran

file bankruptcy

From our archives, but still on point:

Donald Trump’s Atlantic City casino operation filed bankruptcy, following in the steps of his other entities.

What does that mean to ordinary folk here on the West Coast struggling with bills and the grind of staying afloat month to month?

Why does this bit of news show up here on a site devoted to consumer and small business issues?

It’s this:  Trump’s empire is run by highly paid, highly educated business people, who, even backed by Trump’s name and draw, can’t make a go of this business.

That team of management professionals couldn’t keep the casino out of bankruptcy.

Then why is it that ordinary families agonize about filing bankruptcy?

Excuses not to file bankruptcy

Why do they think that it’s a blot on their honor or their intelligence when their finances get away from them?

Why average folks file bankruptcy

Is it really smart to ignore the gravity of your financial situation and make minimum monthly payments forever?

Being in debt leads to bad decisions

You tell me.

Image used courtesy of Flickr and jamvitter.

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Filed Under: Considering Bankruptcy, Consumer Rights

About Cathy Moran

I'm a veteran bankruptcy lawyer and consumer advocate in California's Silicon Valley. I write, teach, and speak in the hopes of expanding understanding of how bankruptcy can make life better in a family's future.

Bankruptcy Basics

About The Soapbox

You’ve arrived at the Bankruptcy Soapbox, a resource of bankruptcy information and consumer law.

Soapbox is a companion site to Bankruptcy in Brief, where I try to be largely explanatory and even handed (Note I said “try”).

Here, I allow myself to tell stories and express strong opinions. We dig deeper into how to consider bankruptcy and navigate a bankruptcy case.

Moran Law Group
Bankruptcy specialists for individuals and small businesses in the San Francisco Bay Area

How Bankruptcy Works

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One of the cosmic ironies of our legal system is that it costs money to file bankruptcy. Bankruptcy gets you out of debt only if you have the money to file. The costs of bankruptcy include the filing fee collected by the court; the required credit counseling; and, if you're smart, an experienced lawyer to make sure … Read more

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