Legal Question in Credit and Debt Law in Virginia

If the primary signer did not pay and the cosigner made payments for 4 years, can the lender try to collect from the primary again if the cosigner defaults


Asked on 11/02/12, 6:03 am

1 Answer from Attorneys
Michael Hendrickson Law Office Michael E. Hendrickson

Certainly, each of the borrowers/signers is considered what the law

terms "jointly and severally liable" for the loan and the lender

may pursue either or both to secure repayment until such is fully paid off.

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Answered on 11/02/12, 7:50 am


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