Do I still have to pay back a loan to a bank that filed for bankruptcy protection
Red Oak, TX
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Posted about 1 year ago in Debt / Lending Agreements
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Bankruptcy:
do i have to pay debt owed by a bankrupt bank
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Answers (5)Margery Ellen Golant
This attorney is licensed in Florida and 1 other state.
Posted about 1 year ago.
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Yes, you are still obligated to pay, even if the bank has filed bankruptcy. The assets of bankrupt banks belong to their creditors. Normally, when a bank is in bankruptcy, its assets are collected either by it, if it is in Chapter 11 and continuing operations on some basis, or by the Trustee in Bankruptcy.
Jeff Adrian Biddle
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