Get clear, concise, and accurate answers to your questions on IDNLearn.com. Ask anything and receive well-informed answers from our community of experienced professionals.
Jason used his car as collateral to borrow money from his bank. After losing his job, Jason is now unable to make his payments., what is likely to happen to his car?
A) The bank will ask Jason to sell the car to help pay back his loan.
B) The bank will seize the car and likely sell it to pay off Jason's loan. THIS ONE
C) The bank will notify the local government of Jason's default on his loan, making it illegal for Jason to drive the car.
D) The bank will put a "boot" on one wheel of the car, making it un-driveable until Jason begins making his payments again.
Explain this to me please.
Your participation means a lot to us. Keep sharing information and solutions. This community grows thanks to the amazing contributions from members like you. For dependable and accurate answers, visit IDNLearn.com. Thanks for visiting, and see you next time for more helpful information.
