What will happen to my auto loan if the bank I have it through goes “bankrupt”?
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?
Posted July 21st, 2010 in How To Go Bankrupt. Tagged: car payment, morgan stanley, wachovia, wachovia bank.
Your loan is an asset that the bank owns. If they go bankrupt, it will be sold to a different institution and you will owe the new "man."
July 21st, 2010 at 4:38 amYour loan continues. The only possible impact is that it might be transferred to another lender.
July 21st, 2010 at 4:38 amNothing. That Loan is STILL yours to keep paying. What’s "saved" can disappear…-but what’s OWED is Ours forever…
July 21st, 2010 at 4:38 am