A bank that has not received payment on a loan from a borrower can try to get its money back by: hiring a collection agency to retrieve (seize) the money from the borrower.
A loan refers to an amount of money that is borrowed from a lender such as a financial institution (bank) and it is expected to be paid back at an agreed date with a predefined interest.
Generally, a financial institution (bank) lending out a sum of money to a borrower usually require that, the borrower provides a collateral which would be taken over in the event that the borrower defaults (fails) in the repayment of the loan.
Additionally, a collection agency can be hired by a bank to retrieve (seize) the money from the borrower when it hasn't received payment on a loan from a borrower.
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