Afternoon all,
I've got an unsecured personal loan from Northern Rock, and so I've been watching the situation with interest. I don't want them to go bump, because it's a bit harsh on all the people with savings, but it got me to thinking.
If NR goes bust, what happens to my loan? I understand that if they get taken over, it would transfer to the new owner, but what about if no-one takes it over (which seems a possibility in the current financially troubled world)? Is my loan written off as bad debt, or would administrators become involved?
2007-09-14
02:47:23
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9 answers
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asked by
GomezTrombone
1
in
Personal Finance