Donald Trump Has At Least $1 Billion In Debt, More Than Twice The Amount He Suggested

[Statistical]

20. Trump in the past has had debt in his COMPANIES.

So he could declare the company bankrupt and leave creditors with nothing. The problem is his credit rating has become such shit that he had to personally guarantee more recent loans. It isn't Trump's companies which owe $1B+ it is Trump who personally owes $1B+.

There is no bankruptcy process where if Donald declares bankruptcy say having $300M in assets and $1B in debts that the debts just magically go away and he walks away with the $300M. We are talking liquidation. Like the judge would appoint a trustee and that trustee would sell off his properties to raise funds to repay creditors. The creditors will never get the full amount because he is insolvent (more debts than assets) but they will take their pound of flesh.

That is the scenario Trump has been desperate to avoid. If he could have just declared BK and magiced all his debts away without losing anything he would have done that in 2016.