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Once a credit card company files bankruptcy, do card users still have to pay, say a collection agency?

For instance First Consumers National Bank... they went bankrupt, yet numerous collection agencies are trying to collect.

Public Comments

  1. yes, you still have to pay, bankruptcy protects them, not there customers.
  2. SOMEBODY will buy the assets if they quit operating, and that's who you will owe. And if they are still in business but just filed bankrupcy, then you still owe the original firm or whoever they sold the loan to.
  3. Those accounts would be assets and sold. You would then have to pay who ever purchased the accounts.
  4. You bet, you have to pay. Either the company that bought them out or the bank that did. Would be nice if you didn't right? I had a Montgomery Ward charge card when they went bankrupt and still had to pay the people who took over their accounts. Sorry.
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