If Xiao Li's guarantee behavior at that time was a true expression of will, that is to say, there was no fraud or coercion, and he signed a guarantee contract with the bank, then Xiao Li was jointly and severally liable (most of them are such guarantees now). After there is a problem with the loan, the bank can exercise the right of recourse to either of the borrower Xiao Wang and the guarantor Xiao Li. The court will support the bank's judgment request and usually choose the party that has the ability to repay the debt. Of course, there will be other situations. If Xiao Li compensates, he can continue to recover from Xiao Wang. This is the general procedure stipulated in the guarantee law.
Besides, I don't know if you mean three years after the loan expires. If yes, please pay attention to whether the bank has issued a collection notice to Xiao Wang and Xiao Li to extend the limitation of action. . . . The guarantee period is generally 2 years after the loan expires. . .
If the bank does not take measures to extend the limitation of action, it will lose the right to win the case. . Even the prosecution court will not support it.