Secured creditor: A creditor with collateral; a person owed money who has the right to take and sell specific property of the debtor if the debt is not paid.
secured creditor see creditor
secured debt Debt backed by a mortgage, pledge of collateral, or other lien; debt for which the creditor has the right to pursue specific pledged property upon default.
secured creditor
A creditor (q.v.) who holds a mortgage, charge (q.v.) or lien (q.v.) on the property of the debtor.
security interest ...
The right of a secured creditor to grab a specific item of property if you don't pay a debt.
means forcing a secured creditor to take cash in lieu of his collateral. The bankruptcy judge first determines the market value of the collateral. The creditor's claim is treated as a secured claim to the extent of that value.
Reform Act of 1978, the first major revision in the bankruptcy code in four decades, brought about several important changes: the new code simplified the procedures for filing petitions, modified the absolute priority rule giving secured creditors ...
That phrase referring to a concept that, in British Columbia under the Personal Property Security Act, allows a secured creditor, in regard to consumer goods, to either seize or sue for the goods but not do both.
lien - Right of a secured creditor to claim a specific item of property if a debt is not paid.
life beneficiary - A lifetime benefit given to a person usually by a trust or a will.
In bankruptcy law, the right to collect before other creditors is given to taxing authorities, judgment holders, secured creditors, bankruptcy trustees and attorneys.
b : a rule set out in section 9-103(1)(d) of the Uniform Commercial Code that provides a secured creditor four months to perfect a security interest again in the state to which the collateral perfected previously in another state has ...
bankrupt before writing a court order to declare it he might make a prefernce to pay off certain creditor rather then dividing his assets equally among his creditors.This is illegal and it is the court who decides to pay off the secured creditors ...
 See also: Credit, Creditor, Term, Person, Security
  
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