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[adaya]

after gm files for bankruptcy do i still have to pay gmac for my reposessed car

[eguzki]

Needless to say you do. Also if the organization goes under, the assets and accounts payable will be utilized in a new organization.  you've to file bankruptcy yourself, If you would like to get out of paying what you owe.   Schelliis Guidelines Individual Finance For Dummies, 5th edition Amazon List Cost: $21.99 Utilised from: $7.63 Typical Client Rating: four.5 out of five(based on 125 evaluations) Individual Finance Workbook For Dummies(For Dummies(Organization & Individual Finance)) Amazon List Price tag: $19.99 Utilised from: $11.89 Typical Consumer Rating: 4.5 out of five(based on two evaluations) Sorting Out Your Finances For Dummies(For Dummies(Company & Private Finance)) Amazon List Price tag: $21.50 Utilized from: $19.90 Schelli 56 weeks previously Please register to give a compliment. Please confirm your account to give a compliment. Please register to send a message. Please verify your account to send a message.

[aethelbert35]

That you owe. If GM go's bankrupt that does not mean GMAC will go Bankrupt, it is two different enterprise. The finance vehicles, houses and so on. and even if they did, some 1 would purchase it up in a minute. If you don't continue paying on your loan the will come and take your vehicle, sell it at a auction residence at any price tag they can get. The quantity that is left is nonetheless your to pay off. They generally attach your wages at ten% till it is paid in complete. You will also get a really undesirable credit ratting for years to come.

[faegan63]

[Mac]

What the company does never cancels your promise to pay for something. They still have the contract you signed. In any such occasion, the bankruptcy judge has the property--which includes debts owed the company--sold to someone else, who then proceeds to collect the debts that they bought. And they'll repossess your car if you don't pay them.  danielpauldavis 56 months ago Please sign in to give a compliment. Please verify your account to give a compliment. Please sign in to send a message. Please verify your account to send a message.

[Alfonzo]

hey Nanocat --they may sell the loan to another loan company - and you might be able to negotiate with them, if so .

[moss]

You always have to pay your debt, That you owe. If GM go's bankrupt that doesn't mean GMAC will go Bankrupt, it is two different business. The finance cars, homes etc. and even if they did, some one would buy it up in a minute. If you don't continue paying on your loan the will come and take your car, sell it at a auction house at any price they can get. The amount that is left is still your to pay off. They usually attach your wages at 10% till it is paid in full. You will also get a very bad credit ratting for years to come. Delvet 56 months ago Please sign in to give a compliment. Please verify your account to give a compliment. Please sign in to send a message. Please verify your account to send a message.