Question

If a person has failed to meet his or her financial responsibilities after taking
out a loan, a bank can recover its money by:
A. suing the borrower in court to force the person to pay.
B. taking out even more loans in the borrower's name.
C. forcing the borrower's employer to fire him or her.
D. requiring the borrower to perform community service.

Answer 1

Answer:

A. Suing the borrower in court to force the person to pay.

Explanation:

A.P.E.X.

Answer 2

If a person fails to repay the loan, the bank can file a lawsuit against the debtor in court.

Option A. is correct.

Define financial responsibility.

Financial responsibility seems to be the act of handling finances (and other resources) in a constructive and beneficial way for a person, his or her household, or an organization.

If a person fails to fulfill her or his financial commitments after getting a loan, the bank can seek recovery by filing a lawsuit against the debtor in court.

Option A. is correct.

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