Mary co-signs for a car loan for Barbara. What can happen to the car if Barbara misses a few payments on the car loan?
(CORRECT ANSWER ONLY)
A. It can be repossessed because the car depreciates in value.
B. It can be repossessed because the loan has been defaulted.
C. It cannot be repossessed because it is a secured debt.
D. It cannot be repossessed because a co-signer is involved.