Before they just go ahead and file Chapter 7 or 11?
How bad do the JWs need to be doing financially
The question I have is who are their creditors. When someone file for bankruptcy
they have an enormous amount of debt and will not be able to satisfy their creditors
in years to come.
With 8 million members there's no way they're going bankrupt. Each member could donate $1 each month and it would tide them over.
All I want is for my family and former friends to see things for what they are. I don't care if they still want to be JW's....just admit that it's a hoax or at least that God's not going to kill everyone who's not a JW.
It's hard to imagine that anyone seeing the things that are going on lately wouldn't feel at least a little freer to entertain their own doubts and check into things more than they have in the past. Especially since so much information is available to them these days.
They aren't struggling as they say they are, they are misleading the flock so they can draw out some more money.
This organization was built upon lies, deceit and misinformation and now we can see its misrepresenting its financial status.
- Great post Pete Z! I agree with you on that 100%. I'm curious what's going on with them financially, but in reality there is no way they are going bankrupt.
- The question for me, is, what do they need the money for?
- The question wasn't if they are going bankrupt. It was how bad they would need to be doing to go bankrupt.
The WTS recently came out and proclaimed that it needed to build more Kingdom Halls and expand certain facilities.
The WTS collected close to billion dollars US $$$ selling of its Brooklyn properties alone not including the branches they sold off around the world.
With the money that the organization already had prior to those sell offs, the WTS. has never been richer in its entire history.
That's the truth of the matter, what they are telling their members now is nothing more a concocted and intentional lie.
- Fink - I understand what you are trying to say. However, as stated before, my question was how bad they would have to be doing in order to file for bankruptcy.
Its an interesting question cognac.... If this were a normal company/corporation the answer would be "when it makes financial sense to do so"
the variable here is that they arnt just a corporation, they are a religious cult corporation. The extra 'god is on our side' aspect may drive them to do some otherwise foolish things... My answer though is ultimately: when it makes financial sense to do so. They will spin it the rank and file as a sign of the end type thing, play it up as "we gave it all up for the sake of the good news" blah blah blah.....
the really interesting thing is that it could happen! They were so stable fo so long its facinating to see it as a possibility