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I ... |
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wesleyelvis | What will happen to the debt on a citibank credit card if citibank ceases to exist? |
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R T
 |
Let's look at Washington Mutual (WaMu). When WaMu hit hard times, JP Morgan Chase bought WaMu and all WaMu customers are now Chase customers. The name on the top of the statements changed - that's all. The accounts didn't change, the debts didn't go away, business as usual.
If someone buys CitiGroup, it will be handled the same way. |
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Proper Gentleman
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lol, let me guess, you are praying they disappear? lol
My guess is that another company will purchase their debt and file suits on the debtors that are worth persuing. |
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donkhalid
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It will go to whoever takes over the company. Citibank wil not cease to exist, it would just be taken over by someone else. |
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pms2go
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another company will buy the paperwork.
companies sell paper all the time.
you will still owe your debt. just pay your bills !!!!!!!!!!!!!!!!!
take responsibility and be happy !! |
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DaMan
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Another profitable company will purchase the right to the debt and send you the same exact bill you were getting before.
If you want the debt to disappear, either pay it or file for bankruptcy protection.
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∞infiniti∞
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You will still owe the debt. Your credit card debt is an asset to Citibank. It will be sold, either to another credit card company or to a Junk Debt Buyer.
Whoever buys your debt will have the same right to collect from you as citibank does.
Nice try |
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Nancy
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Hi,
I used "Credit Solution" to settle my debt and avoid bankruptcy.They managed to reduce my debt up to 58%.It's legitimate.I came across this company on NBC News Special Edition.Check it out here:
http://CreditSolution.ez-mart.biz |
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JOSE T
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My suggestion is trying to obsord as much information as you can before making up your mind,here http://www.DebtFreetips.info/debt-free.htm is a good one.
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src50
 |
1. Even if it goes bankrupt, Citigroup will not just "cease to exist."
2. Your debt is an asset to the bank and continues, bankruptcy or not. |
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