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What happens to a loan if the bank that issued it goes bankrupt?
If the bank that issued a loan goes bankrupt, the loan may be transferred to another financial institution or a government agency. The borrower is still responsible for repaying the loan, but the terms and conditions may change.
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 happens if don't pay the car loan?
If you fail to pay your car loan the bank can repossses your car. It also goes on your credit rating that you defaulted on a loan.
When my husband tried to get a loan from the bank but was refused is it because you are bankrupt?
He may have a bad credit rating, try another bank.
What happens to a bank loan when a person dies?
If the loan is secured, then the collateral is returned to the bank. If the loan is unsecured, like a credit card, then the bank submits the balance to the estate of the deceased.
What happens to a loan if the bank that issued it goes bankrupt?
If the bank that issued a loan goes bankrupt, the loan may be transferred to another financial institution or a government agency. The borrower is still responsible for repaying the loan, but the terms and conditions may change.
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.
If i cosigned on a loan then the person goes bankrupt then they default on a bankrupt what happen?
You signed to guarantee the loan. That means that you guaranteed to pay the loan if something went wrong. Something went wrong so you get to pay the loan.
What happens if don't pay the car loan?
If you fail to pay your car loan the bank can repossses your car. It also goes on your credit rating that you defaulted on a loan.
When my husband tried to get a loan from the bank but was refused is it because you are bankrupt?
He may have a bad credit rating, try another bank.
What happens to a co-signer if the signer of the loan files bankrupt?
The co-signor becomes responsible for the balance due on the loan.
What happens if you do not pay your bank loan?
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What happens to bank loan if you are permanently disabled?
the asset which is kept as morgage with the bank at the time of taking loan is taken away by the bank
What happens to a bank loan when a person dies?
If the loan is secured, then the collateral is returned to the bank. If the loan is unsecured, like a credit card, then the bank submits the balance to the estate of the deceased.
Since banks create the money they loan out why and how do bank institutions go bankrupt?
Banks do not create the money they loan out. They get it from deposits and fees and such then give loans to those who deserve it.
What happens if a loan is sold with recourse and it goes into default?
what haapend if a loan is sold with recourse and it goes into defualt
What happens when you default on your loan and the insurance company pays out on your loan?
In most places the money goes to the BANK! Their name is on the title of the vehicle until you make all your payments and they sign a "release of lein".
