May kaso bang ganito?

[squala]

Eto scenario:

- Bank goes bankrupt, shuts down completely.
- There are still pending car installments

Nakarinig lang kasi ako ng ganitong storya dati. Ewan lang kung kwentong-kutsero, pero kung nangyayari man ito, pano procedure? How are the payments settled? Who gets rightful ownership of the cars?

Kung may idea kayo, just post. Thanks

[theveed]

Meron na dati afaik... security bank ba yun or something like that...

[dragon21]

If the bank becomes bankrupt, it goes into receivership. All receivables (actually all remaining assets and liabilities) are assigned to PDIC; meaning borrower still owes something and pays to PDIC his car installments, as PDIC completes liquidation of the bank.

[jimaroquai]

Correct si Dragon21, PDIC stands for Philippine Deposit Insurance Corporation which is located at Pasong Tamo, Makati City. The purpose of PDIC is to collect all properties which the bank owns, sells some of them to settle all outstanding taxes and debts including all other monetary claims against the bank and gives the remaining if there be any to the owner of the bank. Not all cases of bankruptcy leads to a negative balance as the sale of properties in the name of the bank under receivership or liquidation may yield higher resale value and the same is more than the outstanding debts of the bank. Usual call is to sell movables before immovables. When a bank is under receivership it may not enter into new contracts but may only continue those which are existing until all payments are received.

[oldblue]

hindi ba nababa bankrupt ang PDIC? like for example SSS & GSIS pinagtitripan ng mga presidente kasi nga lakas pondo. with a job description like PDIC mukang ok din pagtripan ng mga pulitiko

[boybi]

government owned ba ang PDIC?