secured creditor

Definition of "secured creditor"
  1. A creditor that holds a security interest, such as a mortgage, to ensure debt repayment
How to use "secured creditor" in a sentence
  1. If the debtor cannot make the required payments, the secured creditor has the right to seize the collateral.
  2. The car loan company becomes a secured creditor once the borrower signs the financing agreement.
  3. In bankruptcy cases, a secured creditor usually receives better treatment than unsecured creditors.

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