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But most states allow cosigners to take primary borrowers to court in the following situations: Cross claims: If you default on or fail to repay the loan, the lender could sue the cosigner for the money owed. The cosigner may then be able to sue you for the money that the lender is trying to recover.
The debt collector could also get the court to put a lien on your property, like your house, if you don’t respond. Talk with an attorney: An attorney can advise you on your legalrights and help you navigate the lawsuit process. However, you do have the right to dispute errors on your credit report.
This is always a good first step before turning to a debt relief company. Debtconsolidation programs. This is an option for people who have several debts with different creditors. A consolidation program puts together everything you owe into one account and gives you a single monthly amount for repayment.
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