NHRA roles for bankruptcy

Rusty Davenport · 08-04-2020, 05:08 PM

Bankruptcy may seem like a sign of trouble, but it is only to some extent in most cases. Bankruptcy is very often a " financial maneuver" in order to regroup and move forward again. Most people even come back stronger than before with a legal regrouping of their finances. Bankruptcy judges and lawyers can make it very comfortable for their clients in most cases. In fact nowadays it carries no shame like it once did, it's considered a way of business.

Mike Jones · 08-04-2020, 05:38 PM

In the early 1980`s, I first heard of a bankruptcy "strategy". The story went like this: max out your lines of credit, whatever anybody would give you, take it. There never was any intention of paying the bills.They payed back pennies on the dollar, if at all. Terrible deal for honest vendors. Not saying NHRA would do anything like that, but many people did.
MJ

08-04-2020, 05:08 PM	#1
Rusty Davenport Senior Member Join Date: Jun 2005 Location: Nashville N.C. Posts: 506 Likes: 4 Liked 101 Times in 27 Posts	Re: NHRA roles for bankruptcy Bankruptcy may seem like a sign of trouble, but it is only to some extent in most cases. Bankruptcy is very often a " financial maneuver" in order to regroup and move forward again. Most people even come back stronger than before with a legal regrouping of their finances. Bankruptcy judges and lawyers can make it very comfortable for their clients in most cases. In fact nowadays it carries no shame like it once did, it's considered a way of business. __________________ NHRA AND IHRA STOCK ELIMINATOR 2772

08-04-2020, 05:38 PM	#2
Mike Jones VIP Member Join Date: Apr 2012 Location: Connecticut Posts: 1,125 Likes: 1,179 Liked 684 Times in 289 Posts	Re: NHRA roles for bankruptcy In the early 1980`s, I first heard of a bankruptcy "strategy". The story went like this: max out your lines of credit, whatever anybody would give you, take it. There never was any intention of paying the bills.They payed back pennies on the dollar, if at all. Terrible deal for honest vendors. Not saying NHRA would do anything like that, but many people did. MJ