Saturday, January 18, 2014

If your car was repossessedand the company who sold the car to you is filing bankruptcy do you still owe?

If your car was repossessedand the company who sold the car to you is filing bankruptcy do you still owe?
Yes. Since the "Car Sales Company" went into bankruptcy, your financial agreement with your "Creditor" (bank, credit card, credit union, etc...) has not dissolved the loan. Check with your creditor (who you send your monthly to?) and/or continue paying for your car. This will help you keep your own personal credit in good standing.

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