not sure, but from what I can tell, the knock on his political career is that it has been repeatedly rescued by a couple wealthy GOP donors in FL who write him big checks whenever he fails at managing his personal finances. I think he's been close to bankruptcy a couple times. it was always stupid stuff too. In one story I read, he came into some GOP-donor-largesse and the first thing he did was run out and buy a pricey cigarette boat, or a yacht or something like that which immediately sank him back into debt.
I don't know if it's ever happened that a sitting US Senator had to file chapter 11. would be pretty embarrassing for a US president to have to do that. LOL, would Capital One try to take out a lien on the White House to cover his debts?