Quote:
Originally posted by detoxed
Just so you guys know... his businesses are in debt. Not him personally. He never puts his personal guarantee on anything, read his books. He pays himself millions a year, even when he was going bankrupt like 10 years ago he still was paid $400,000 a month personal salary by the banks.
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He learned his lesson the first time as he personally guaranteed everything and went bust. However you have to give the guy credit, he went and made deals with every bank he was in debt to and made deals to get the debt paid down or off over time.
These banks don't want to post those kinds of losses hence the reason they are more willing to be negotiable.
DH