secured creditor

A creditorThe lending institution providing a loan or credit. holding a claimNotice to an insurer that under the terms of a policy, a loss maybe covered. against the debtorThe person or entity that borrows money. The term debtor may be used interchangeably with the term borrower. who has the right to take and holdUsed to indicate that a certain amount of a customer's balance may not be withdrawn until an item has or sell certain propertyThe rights or interests a person has in the thing he owns; not, in the technical sense, the thing itself. of the debtor in satisfactionDischarge of a mortgage or trust deed from the records upon payment of the debt. of some or all of the claim.

Secured Creditor

an individualA person as defined. or business holding a claimNotice to an insurer that under the terms of a policy, a loss maybe covered. against the debtorThe person or entity that borrows money. The term debtor may be used interchangeably with the term borrower. that is secured by a lienWhen a borrower fails to satisfy a debt, the lender may claim ownership of tangible property the borrower on property of the estateAll legal or equitable interests of the debtor in property as of the commencement of the case. or that is subject to a right of setoff.