SmileyPooh asked:
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?
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?
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.
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.
keep paying on it til you hear from the bankruptcy judge
I think you are stuck like chuck Even when a co. goes bankrupt they still want their money
pay off the loan. refinance with another.