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What happens to your auto loan if you file for bankruptcy. The lender may repossess your car if you file for Chapter 7 and aren’t in good standing with your auto loan. Your vehicle won’t be ...
Washington Mutual, Inc. (often abbreviated to WaMu) was an American savings bank holding company based in Seattle. It was the parent company of Washington Mutual Bank , which was the largest savings and loan association in the United States until its collapse in 2008.
The FDIC then sold most of WaMu Bank's assets, including the branch network. [4] On September 26, 2008, WaMu, Inc., and its remaining subsidiary, WMI Investment Corp., filed for Chapter 11 bankruptcy and after seven plans to reorganize the company finally emerged from Chapter 11 bankruptcy the following month as WMI Holdings Corporation. [5]
The willingness of governments to allow lenders to place debtor-in-possession financing claims ahead of an insolvent company's existing debt varies; US bankruptcy law expressly allows this [8] while French law had long treated the practice as soutien abusif, requiring employees and state interests be paid first even if the end result was liquidation instead of corporate restructuring.
Debt relief: Bankruptcy can discharge most unsecured debts, such as credit card debt, medical bills and personal loans. This can provide you with a fresh financial start. This can provide you with ...
Key takeaways. There are two common types of bankruptcy: Chapter 7 and Chapter 13. Filing for bankruptcy is a time-consuming process that can take years to stop affecting your finances.
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