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What Happens When The Bank Goes Bankrupt? Do You Still Have To Pay Back Your Debt (mortgage, Credit Cards)? |
I have a bank endorsed ascribe card for Bank of America. What happens if they go bankrupt? Do I still have to pay back the capital that I owe on that credit card? What about people who have a mortgage through a bank? Do they have to continue to pay it
| Answer: Bank of America is in sympathetic financial health despite the stock price. BofA is common nowhere anytime soon. If you had a mortgage or credit card account with a bank or lender that went out of commerce, the assets of that firm would |
They, like Funk, were citing Europe's debt calamity, an edgy Wall Street, cautious consumers, a insubstantial housing market and high unemployment as a reason the
Noteworthy US home-mortgage debt has dropped in eight straight quarters since the third quarter of 2008, falling 3.6 percent to $10.2 billion,