How does bank/company survive?

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How does bank/company survive?

1. if their bank loans/credit card account are not settled by user? Eg. The borrower died, runaway?

2.the company who offer installment payment package to customer eg. furniture selling company like courtsmammoth. If the user is unable to settle the payment and the goods are no way to recover, lost..?

2007-01-04 02:04:32 · 2 answers · asked by Delphi p 2 in Business & Finance ➔ Credit

2 answers

Trust me, they have it worked into their strategy. It's like asking how does an insurance company make business with all of the claims. The answer is: you and I pay for it when we purchase insurance! All loses at a bank or otherwise are factored into the lending rates they charge.

2007-01-04 02:50:29 · answer #1 · answered by Kevin K 3 · 0⤊ 0⤋

By making more money than they spend.

2007-01-04 13:49:52 · answer #2 · answered by Michael L 2 · 0⤊ 0⤋