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What happens if a dealership goes bankrupt and you still owe money?
Wiki User
∙ 12y ago
The accounts and contracts held by the dealership will be acquired by the creditors of the dealership. Any debts owed to the dealership will then be owed to the new holders of those contracts. Typically, those creditors will turn them over or sell them to a consumer finance company that specializes in servicing consumer loans.
Bottom line: you still owe the money, you just owe it to someone else, now.
Wiki User
∙ 12y ago
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If a collection agency goes bankrupt how does someone find out who owns the debt?
Even if the collection company goes bankrupt, you still owe the bank whatever money you borrowed from them. The bank hires the collection company to get that money, so you still owe them
Can you still hold your personal alcohol license if you are made bankrupt?
I was made bankrupt on June 6th this year 2008 i already held a personal licence can i still use it
What happens to your warranty when a company goes bankrupt?
If the Bankrupt company is just the retailer then the warranty is still covered by the manufacturer. If the manufacturer goes bankrupt then the retailer covers the warranty. The seller is responsible for a warranty. Clearly if the seller is the manufacturer and they go bankrupt then it's most unlikely that the warranty will remain in force.
If i received a refund of 13000 can i still file for bankrupt?
Sure. You can file for BK regardless of how much money you have or have coming.
Can you still owe money after your car is repossessed and you are bankrupt?
You still owe the balance after the insurance money is paid, if there is a balance. You can only get rid of it, along with your other unsecured debts, by filing bankruptcy.
What happens to variable annuities when the insurance company goes bankrupt?
Generally, when an insurance company goes bankrupt, the guarantees that are being offered on the contract are gone. For instance, if you have a death benefit, or a income guarantee, those will usually be lost. As for the money you've invested in the variable annuity, if your money is invested in the sub-accounts (the various investments that are usually managed by mutual fund management whose names you will usually recognize), that money is still being managed by those companies, and is separate from the now bankrupt insurance company. That is the long way of saying, your money in the sub accounts is safe. However, if you have money in the fixed interest account, that is usually held by the insurance company, and that money may be in jeopardy.
If you have credit debt and that institution files bankruptcy do you still have to repay?
Yes. The bankrupt institution will pass your debt to its creditors that it owed money to.
What happens if your bank goes to bankruptcy and you owe money to them?
You still owe money.
What happens to a bank loan when a corporation goes bankrupt?
The company still has to pay it off, it might even just rest on the owner's, or the person who took it out, hands.
What terrifies Bill Gates?
Nothing, he has 50 billion. If Microsoft went bankrupt he would still have no fears, he has enough money to feed the world for a year
What happens to the direct deposit of my payroll if my house is foreclosed?
Nothing happens. You still get the money in your account. They just want the house, not your money.
Is France still bankrupt?
NA THEY STACkING PAPER
