The bank that I loaned is being closed.
Getting loans nowadays is something that is not new to business people. I am one of those business persons who loans a lot to achieve something that I need. Now the bank that I loaned is being sued by the governent and is surely be closed by the end of the month. I have not finished the loan that I got from them. Should I withdraw the loan or something else?
Confused About Financial Products?
You can chat directly and receive the best offers from the experts.
We tend to loan to banks or other agencies that offers a lot loan. But we can not excape the fact that sometimes the bank or agency that we loaned might got bankruptcy. We think that our loan have been already cancelled but it's not. Because your debt is typically up for sale when a lender closes. ... In some cases, your loan can fall under the control of the Federal Debt Insurance Corporation (FDIC). Either way, your loan terms will likely carry over to a new company — with the same APR and repayment terms.