For a personal loan and retail finance account for my furniture. How will I be affected?
Thanks.
Since you are the person that owes them the $4,192 you won’t be affected. You still owe the money, to either american General Financial Services, or to whom ever buys them out. As loans get sold to other financial institutions.
the only people that would get affected at this time are the ones that have investments, stocks, mutual funds (where a part of the mutual fund is AIG) since their stocks are going down. just to give you an example I bought Lehman stocks at 68.00, 3 years ago. They are now worth .15 cents. As you can see I lost a lot of money.
So bottom line, you still owe the money, and there will be no chane to the interest that you are paying.
#1 by Caleb R on July 8th, 2009
Quote
you will be fine. The government bailed them out. It’s getting loans that will now be the problem. As long as your money is insured and under a certain amount ($100k for FDIC banks, etc) then you’ll be fine. Don’t worry about it:D
References :
#2 by Bill F on July 8th, 2009
Quote
Since the govt gave them the loan, you will not be affected. Even if they had gone bankrupt, it is likely that their loans would have been sold to other financial institutions such as Bank of America, or HSBC. You would have probably still owed the debt regardless.
References :
#3 by V R on July 8th, 2009
Quote
Since you are the person that owes them the $4,192 you won’t be affected. You still owe the money, to either american General Financial Services, or to whom ever buys them out. As loans get sold to other financial institutions.
the only people that would get affected at this time are the ones that have investments, stocks, mutual funds (where a part of the mutual fund is AIG) since their stocks are going down. just to give you an example I bought Lehman stocks at 68.00, 3 years ago. They are now worth .15 cents. As you can see I lost a lot of money.
So bottom line, you still owe the money, and there will be no chane to the interest that you are paying.
References :