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Forum: The Sand Pit

Nov 24th 2008, 1:52 pm

Replies: 19

An important question re banks, financing, loans, etc...

Views: 601

Posted By still.unsure

Re: An important question re banks, financing, loans, etc...

the insurance part is (usually) to protect the bank (and your credit rating) if you become unable to make the minimum repayments (b/c of illness, loss of job, etc.).

it all becomes null & void...

Forum: The Sand Pit

Nov 24th 2008, 1:44 pm

Replies: 19

An important question re banks, financing, loans, etc...

Views: 601

Posted By still.unsure

Re: An important question re banks, financing, loans, etc...

as nice as that would be, my understanding is that no, the debt doesn't disappear when the bank stops trading. instead, your 'debt' (i.e. USD$10k) becomes and 'asset' to the administrators of the...

Forum: The Sand Pit

Nov 24th 2008, 11:20 am

Replies: 19

An important question re banks, financing, loans, etc...

Views: 601

Posted By still.unsure

Re: An important question re banks, financing, loans, etc...

not sure about personal debts, but with places like Lehmans Bros, those owing money to it when it when bust, bascally said to the administrators, "come and get it".

so i would imagine with...

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