Can I sue the person I consigned a loan for for their nonpayment of the loan?

Full Question:

Can I sue the person I consigned a loan for for their nonpayment of the loan?
03/15/2017   |   Category: Debts and Credit   |   State: Alaska   |   #34019

Answer:

You would usually have a right to sue for reimbursement or indemnification from the borrower. You may also want to consider getting an assignment of the loan from the lender if you pay it and then force the borrower to pay you.