Anyone know if a Presidential campaign can file for bankruptcy?

[Thomas Hurt]

[LiberalFighter]

1. I would think it would put the kibosher on a 2024 campaign.

[grumpyduck]

2. With this crew, I'd believe it.

If they do, Rudy should be lead attorney.

[The Velveteen Ocelot]

3. I should think so, since they are usually organized as corporations.

But there might be some relevant FEC rules.

[True Dough]

4. They could have filed

for "moral bankruptcy" from Day 1.

[MyOwnPeace]

7. THAT.......

is a GREAT response!

[MyOwnPeace]

5. Wow - they've learned from the Master!

Funny somebody should ask now...

El Paso Says Donald Trump Still Owes $569,204 For His February Rally

https://www.espnsa.com/el-paso-says-donald-trump-still-owes-569204-for-his-february-rally/

[PoliticAverse]

6. Moral or financial? n/t

[MyOwnPeace]

8. WOW!!!!!

You guys are HOT tonight!!!!!

[ProfessorGAC]

9. According To This, Yes. Sort Of!

This is from Slate in late 2008.
Technically they can, but...

Technically, political committees can declare bankruptcy, but the practice is almost unheard of since defunct campaigns don’t have much in the way of assets. Instead, losing candidates who aren’t running again for political office—and consequently don’t have an easy way to raise much money—may go through a process with the FEC called “debt settlement” (PDF). To do so, a former candidate must agree with creditors on how much he or she will pay back, and the FEC must verify that each creditor extended the debt in the “ordinary course of business” and tried its best to collect. (Unlike outstanding payments to vendors or staff, bank loans typically can’t be forgiven.) If debt settlement fails, the FEC can eventually engage in an “administrative termination” that shuts down the campaign committee and cancels its obligations.

[royable]

10. That might be necessary if the fleecing of maggots can't keep up with the ongoing grift. n/t

[keithbvadu2]

11. Just imagine a serious audit for the bankruptcy.

Just imagine a serious audit for the bankruptcy.

[SmartVoter22]

12. No. Political donations are not income.

Any money a candidate raises is seperate from any personal income.
It requires it's own bank accounts and all filings keep political and personal monies seperate.

The only thing a candidate can do is retire, resign or die while having loads of campaign debt.