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What happens to a line of credit at a bank if the bank closes?


How can it be paid back? What happens to any type of loan in this situation?

Generally, if the bank "closes" it is due to insolvency or bankruptcy, and if that is the case, the outstanding loans are sold to other creditors and then you the debtor will just have a new company to write checks to. Just be careful to not agree to any new loan terms (unless they are favorable), the new creditor would have to honor your original contract.

Think of it like getting a new boss, same crap different face.
If a bank closes, it will sell it's assets to some other company. The loan is an asset and it will be sold. Who ever buys the loan will come to collect the outstanding balance.
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