What happens if a huge bank like JP Morgan goes bankrupt? - The Great Awakening

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What happens if a huge bank like JP Morgan goes bankrupt?

posted 3 years ago by bojackjohnson 3 years ago by bojackjohnson +114 / -0

For example, my mortgage is through JP Morgan Chase. Do credit cards and mortgages and such just get wiped out? Or do they demand people pay their balances all at once? Or does another bank buy them out and the debts are transferred? How does all of that work?

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– FemalePatriot 2 points 3 years ago +2 / -0

I have heard this theory. Along with debt collectors. Man I should of fought that with the mortgage company. I will def keep this in mind if any company we use bellies up with what’s going on. Hahaha

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– deleted 1 point 3 years ago +2 / -1

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