I have a car that I financed with a company only to find out that the company has gone bankrupt. I want to trade that car in on another one with another finance company but I am as they say "upside" down and locked in with the company that has gone bankrupt. Does anyone have any suggestions on how to remove myself from this company without ruining my credit?
2006-10-09 14:18:00 · 5 answers · asked by Anonymous in Cars & Transportation ➔ Buying & Selling
pay off the loan. refinance with another.
2006-10-09 15:17:37 · answer #1 · answered by natallbad 4 · 0⤊ 0⤋
This is a tough one.you can try contacting the lawyer that is handling the affairs and the bankruptcy of the first company and see if they can offer any ideas on what to do or you may have to list yourself on the bankruptcy as a creditor and hope that the courts can straighten out the mess.
2006-10-09 14:34:29 · answer #2 · answered by hjbergel 5 · 0⤊ 0⤋
You are probably going to be stuck with it until the bankruptcy clears the courts. Keep sending payments until they send one back as undeliverable or that will ruin your credit. The bankruptcy court will then advise you where to finish making payments.
2006-10-09 14:31:52 · answer #3 · answered by eferrell01 7 · 0⤊ 0⤋
I think you are stuck like chuck Even when a co. goes bankrupt they still want their money
2006-10-09 15:13:12 · answer #4 · answered by Anonymous · 0⤊ 0⤋
keep paying on it til you hear from the bankruptcy judge
2006-10-09 14:40:05 · answer #5 · answered by Luckys Charm 4 · 0⤊ 0⤋