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Question 7 of 10 A bank that has not received payment on a loan can try to get its money back by: O A. ordering the borrower to work for the bank without earning any money B. hiring a collection agency to seize the money from the borrower. O C. contacting the police and requesting the borrower be jailed. O D. taking out a larger loan in the borrower's name to cover the initial debt.

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Respuesta :

Answer: B: hiring a collection agency to seize the money from the borrower.

Explanation:

The bank has several options for recovering his loan. One of the options is to hire a collection agency to recover the money. Therefore, (B) is the correct option.

What is a collection agency?

A collection agency is a business that lenders or creditors utilize to recover money from accounts that are past due or in default. Collection agencies collaborate closely with lenders and credit bureaus to try to recover unpaid debts.

The collection agency will assist the bank to recover its debt.

Therefore, (B) is the correct option.

To know more about banks, visit the link below:

https://brainly.com/question/15062008

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