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Question 1 of 10
What is one way banks can recover money they have loaned to someone who
has stopped making payments?
O A. Banks can require the borrower's friends and family to pay off the
loan.
B. Banks can have collection agencies seize part of the borrower's
income.
C. Banks can force the borrower's employer to fire him or her
immediately
D. Banks can make the borrower work at the bank for no salary.

Respuesta :

Rahilaattiq

Answer:

B. Banks can have collection agencies seize part of the borrower's income.

Explanation:

Hope it helps

Banks can recover money they have loaned to someone who has stopped making payments the banks can have collection agencies seize part of the borrower's income. Thus, option (b) is correct.

What is bank?

The term Bank refers to a financial institution that deals with money. For the aim of saving and investing, the individual deposits money into a personal account. Additionally, banks can offer loans and ATM services. There are two different kinds of banks, such as public and private ones.

The debtors give the loan to the bank, but as long as someone is not returned on payment, the bank can hire collection agencies. The collection agencies' main role is to collect money with interest from debtors.

Therefore, option (b) is correct.

Learn more about on banks, here:

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