16
Jul
Jul
I have a car loan through a bank, and with so many banks going under…what will happen to the loan if they go under? will I still have to pay it back? Will my vehicle get taken away? What will happen?
Answer:
The bank can go belly up, but you’ll still owe the loan. You just might end up writing a different bank name on the check. They can’t take your car as long as you are making payments according to the agreement.
In short, nothing will happen. Sorry if that disappoints you.
Answer:
It will just be transferred to a different bank and your payments will carry on as normal. Book Mark it-> del.icio.us | Reddit | Slashdot | Digg | Facebook | Technorati | Google | StumbleUpon | Window Live | Tailrank | Furl | Netscape | Yahoo | BlinkList
This entry was posted
on Wednesday, July 16th, 2008 at 3:52 pm and is filed under Personal Finance.
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