What happens to my CC debt if my bank goes bankrupt?
I have a few thousand dollars in credit card debt with Citibank right now. I know the government is bailing them out left and right, but if Citi went bankrupt what would happen to my debt?
Would another bank buy it off them? If so would my interest rate change?
Would it stay with Citi? If so, could I just not pay it off?
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Categories: information on bankruptcy Tags: citibank, credit card debt, interest rate change, thousand dollars
What happens to your credit card when the bank that owns it goes bankrupt?
There is a lot of talk about Citibank trying to sell or merge with another bank. And it got me thinking. What does exactly happen when a bank shuts down? For example, let’s just pretend that Citibank goes bankrupt and no one buys them out. What happens to the credit card accounts?
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Categories: information on bankruptcy Tags: citibank, credit card accounts