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Is it true that if a loan institution passes your debt to another loan institution you are no longer obligated?

Full Question:

Is it true that if a loan institution passes your debt to another loan institution you are no longer obligated to pay back the debt.

03/08/2017 | Category: Debts and Cr... » Lending | State: West Virginia | #33612

Answer:

No. Unless there is a prohibition against assignment which would be rare then you are still obligated. And even if there was an improper assignment the remedy would be to have the assignment canceled but you would still be obligated on the loan.

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Is it true that if a loan institution passes your debt to another loan institution you are no longer obligated?

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Is it true that if a loan institution passes your debt to another loan institution you are no longer obligated?

Full Question:

Answer:

Categories

Legal Information

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For Consumer

Services

For Business

Customer Support

Our Sites

We Care!

We Help!

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