05-06-2009 05:20 PM
05-07-2009 06:53 AM
Their assets (including your loan) will go into receivership. The loan proceeds will be used to liquidate the companies liabilities. Most likely your loan will be sold to another lender who will notify you at that time.
Be sure to continue to make your payments. Their BK does not remove your liability nor will it prevent it from being reported against your CR if you do not make the payments.
You can contact the OC to clarify if there is any change in mailing addresses if you pay by mail.
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