What happens to a guy who has debt with BoA and it goes belly up?
Asking for a friend.
My recommendation to my friend, by the way is... "You were a good debt servicer even after the 2008 bailouts that gave the banks a second chance... but shame on you if you take the same path. Tell them to write off your debt and walk away from it. Declare bankruptcy along with the millions and millions of other people."
Anyone got a better answer? And, no need to comment about not taking on debt... sometimes life throws curveballs that require it.
What happens to a guy who has debt with BoA and it goes belly up?
Asking for a friend.
My recommendation to my friend, by the way is... "You were a good debt servicer even after the 2008 bailouts that gave the banks a second chance... but shame on you if you take the same path. Tell them to write off your debt and walk away from it. Declare bankruptcy along with the millions and millions of other people."
Anyone got a better answer? And, no need to comment about not taking on debt... sometimes life throws curveballs that require it.
The debt gets bought up by another bank.
True... typically... but if bankruptcy has been declared, that new bank gets nothing.