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Vladimir T
Vladimir T asked in Business & FinanceCredit · 1 decade ago

Will you be made to pay back the loan if the bank goes bankrupt?

4 Answers

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  • Sigma
    Lv 4
    1 decade ago
    Favorite Answer

    You aren't getting out of it that easy. The loan will be sold to another financial institution as an asset and you will still have to pay. The only thing that will change is the bank you write the check to.

  • Steve D
    Lv 7
    1 decade ago

    Yeas - your debt is an asset to the bank and will be sold to another bank or lender for collection.

  • T C
    1 decade ago

    Seriously? Yes.

  • Twigward
    1 decade ago

    Yes the debt will be bought or sold to another institution.

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