Answered

Welcome to Westonci.ca, where your questions are met with accurate answers from a community of experts and enthusiasts. Get immediate answers to your questions from a wide network of experienced professionals on our Q&A platform. Explore comprehensive solutions to your questions from knowledgeable professionals across various fields on our platform.

Jason used his car as collateral to borrow money from his bank. After losing his job, Jason is now unable to make his monthly payments for the loan, defaulting on the loan. If Jason is unable to continue 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.
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-drivable until Jason begins making his payments again.

Sagot :

We appreciate your visit. Our platform is always here to offer accurate and reliable answers. Return anytime. Thanks for stopping by. We strive to provide the best answers for all your questions. See you again soon. Westonci.ca is here to provide the answers you seek. Return often for more expert solutions.