I was wondering if anyone would know with the way the economy is going, how it'll effect financing you might have with a department store? With Circuit City closing a bunch of stores and the chance of going under a possibility, what would happen if you had financing through them? Would it hurt you if they went under or would it hurt them?

 

well the store aint the one doing the financing.

but the bank.

so if the stoe goes under or files for bankruptcy, your loan is still an asset to the store...

no matter what, you are stuck with it.

 

Yeah I figured that much, but if they go under, can the bank sky rocket the APR?

 

since the bank was always part of the picture...wouldn't the agreement of the loan/financing stay the same?

 

The banks and credit card companies can do whatever they want in the way of raising interest rates, adding monthly fees etc. Especially during these challenging economic times they are looking for any way to make money. I'm speaking from experience having just had a battle royal with one of my credit card companies. I'm in the process of passing it over to the local TV station ...

 

Circuit City's financing is through JP Chase Morgan. There is NO way that debt is just going to go away after Circuit City goes down.

What I am worried about is my extended warranty on my HDTV...that IS through CC...

 

cc financing is by chase as previously mentioned, cc closing will have little effect on what happens to your dues after