Jason used his car as collateral to borrow money from his bank. After losing his job, Jason is now unable to make his payments.,

Question

3 years ago

8

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.

Mathematics

2 answers:

inna [77] · Answer 1 · 2022-07-20T00:03:37+03:00

inna [77]3 years ago

6 0

Answer: B. The bank will seize the car and likely sell it to pay off Jason's loan.

Step-by-step explanation:

den301095 [7] · Answer 2 · 2022-07-20T01:09:58+03:00

den301095 [7]3 years ago

5 0

It’s option “b”. The bank will seize the car and likely sell it to pay off a Jason’s loan