If Wachovia sinks what happens to my aut loan?
09-15-2008, 12:35 PM
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If Wachovia sinks what happens to my aut loan?
I see that Wachovia's shares have declined sharply and given the number of mortgages they issued it is quite possible that they go under. My question is if they do go belly up what happens to my car loan?
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09-15-2008, 12:47 PM
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If they go into receivership, you owe the money to the receiver. If they manage to find a buyer for the bank, you owe that buyer. Your debt doesn't disappear.
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