I still owe a couple thousand on my car payment through Wachovia bank and I read online today about a possible combination between them and Morgan Stanley. Will that effect my loan at all if the combination goes through?
If Wachovia ends up going "bankrupt" how will that effect my loan?
I saw that Wachovia fired it’s CEO and that they are being investigated by the fed’s for possible money laundering. I have my main savings account with them and I am wondering if I should put my money in another bank to make sure I don’t lose it. Would I lose my money if they closed down? Would they close? They are one of the biggest banks. Also, is it better to distribute your money in different savings accounts anyways?
I have three loans for land that I purchased a couple years ago (I know…good move) for 35k each that are now worth about 9k each. I can still afford the monthly payments, but I am wondering if it is just best for me to file bankruptcy (or if some other alternative exists). One of the loans is with IndyMac bank and the other two are with Wachovia. Any suggestions other than for me to jump off a bridge?
Also, I have a 780 credit score that I would hate to let go, but I figure as long as I can produce enough income I don’t have to worry about my credit being destroyed.
Well, the reason why I was thinking bankruptcy is because I figure its cheaper for me to repair my credit than to lose 78k (26k on each piece of land). At this point I dont care about the land since nothing is on them.
My loan balance is ,000 on my 05 Pacifica. I am an auto dealer and I can run auction reports and I know the car sells for 10,000 in the auction. Do you think Wachovia will negotiate a new loan based on what they will get for the car in the auction? The alternative is to throw the car into my bankruptcy and give it back anyway. Anybody have any insight on this?