secured creditor
Definition
Lender who holds legally enforceable claim on a borrower's asset(s) of a liquidation value equal to or greater than the loan amount. Secured creditors are entitled to receive the proceeds of the foreclosure sale of the pledged asset(s) and, in case of a bankruptcy, must be satisfied before the unsecured creditor(s).
Mentioned in these definitions
Popular 'Banking, Commerce & Finance' Terms
secured creditor in the news
Loading...
This content can be found on the following page:
http://www.businessdictionary.com/definition/secured-creditor.html
