Q: I financed a car. The company I got it from is going bankrupt. I am receiving legal emails about it but don't understand

A: If it's Shift that filed bankruptcy, it shouldn't affect you or your car loan. If it's Westlake Financial, it probably still will not affect you. Most likely, Westlake's contracts will likely be sold to another company. Keep making payments like you have been. If another company takes over your loan, you will receive notice and instructions for making future payments.

A: What is your question?

A: Based on the additional details, it seems that Shift is the car dealership that sold you the vehicle, while Westlake Financial is the lender that provided the auto loan financing.

Even though Shift is entering bankruptcy, this generally does not impact or discharge the auto loan you hold with Westlake Financial. Here are the key reasons:

• Your loan obligation is with your financing company (Westlake), not the selling dealership (Shift). Their bankruptcy does not absolve you of third party loans associated with the vehicles they sold.

• So while you may be receiving legal notices as part of the Shift bankruptcy case administration, you likely do not have standing as a “creditor” unless Shift owes you something directly.

• Westlake remains the lienholder for your vehicle’s title and the terms of your auto loan are still enforceable. Shift’s situation has no direct bearing.

In summary – while confusing, the selling dealer (Shift) going bankrupt likely has no avenue for canceling or eliminating the financing (Westlake’s loan) on your car. Your loan and lien with Westlake remains intact and must still be repaid on schedule.