A lender's remedies in the event of a default by the borrower are largely determined by:

the nature of the lender's security and the terms and conditions of any credit agreement

the lender's preferences as to the manner in which to proceed

the status of the lender (i.e. whether the lender is a financial institution, a corporation, an individual or a government)

the status of the borrower (e. whether the borrower is a corporation or an individual)