loan caution

knabe · Oct 22, 2009

my loan company went bankrupt and loan is changing hands. still up in the air whether they will force me to make a double payment for the payment in limbo to the bankrupt loan company.

the company was taylor bean & whitaker, supposedly the 3rd largest loan agency.

if they can't get the money out of the bankrupt company, i don't know what the rules are.

you might want to check on your loan, as it could be a surprise.

sue · Oct 22, 2009

knabe said:
my loan company went bankrupt and loan is changing hands. still up in the air whether they will force me to make a double payment for the payment in limbo to the bankrupt loan company.

the company was taylor bean & whitaker, supposedly the 3rd largest loan agency.

if they can't get the money out of the bankrupt company, i don't know what the rules are.

you might want to check on your loan, as it could be a surprise.
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I would check your credit history... you can check it once a year on line. Alot of things are happening. This could be the best post of the year- dont over look anything .

GoWyo · Oct 22, 2009

It will depend on what your note says. However, if you made the payment before you received notice of the assignment of your note, they should not be able to get it out of you. If the original lender is in BK, there should be a trustee unless the assignment to the new lender was already approved. Apparently the original lender did not go into receivership? However, they might still try to get it out of you. Not fun.

loan caution

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