If a loan is cosigned and the borrower defaults,the lender has the right to sue the cosigner or try to seize his assets just as if he were the borrower.

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When a loan is cosigned, the cosigner agrees to take full responsibility for the loan if the borrower defaults. Therefore, the lender has the right to pursue legal action against either the borrower or the cosigner in order to recover the unpaid debt. This may include suing the cosigner or attempting to seize their assets in order to satisfy the debt.

If a Loan Is Cosigned and the Borrower Defaults,the Lender