You own a mortgage or a car loan with a bank that failed and you wonder if you sine qua non to keep paying it.

You must keep paying. A bank’s failure does not absolve you from paying your loan. Very soon after a bank deficiency, you should receive notice of the bank that has taken over your account. And if all goes superbly, you will just keep paying exactly as you have, with no disruption. Now, that said, I long for you to keep very careful records of all your payments. If you use online banking, pull a proof pix out each payment for at least six months and tuck them away in a uninjured place. As I said, the transition should be seamless, but when Bank A takes throughout Bank B, sometimes the wires can get crossed in the back office during the switchover. So you need to have perfect records to prove any problem is not because you fell behind on payments. If you do welcome a notice that you haven’t paid, you have to not only deal with the bank but contain your credit reports to make sure the bank has not mistakenly reported your advance payment as late or delinquent. If it is showing up on your report, you must heckle the bank hard to correct the mistake. At the same time, file a challenge with the credit bureau. By law, they must look into the dilemma and report back to you within 30 days. Don’t take anyone’s confab that they will take care of it. You must stay on top of the debouchment and keep checking (and nudging) to make sure any mistake is cleared up. Uniquely when your bank is the one that has tripped up.

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