Series 79: Secured Claims

Secured Claims

A secured claim is a claim that is secured by a perfected lien, a security interest, or pledge of collateral, which might be real estate, equipment, cash, receivables, or other assets. A perfected lien is a lien that has been filed with the correct legal authority, typically a county or a court, giving the lien priority over other potential claimants to a property. Secured creditors enjoy the highest priority status of any creditor: they are paid from the collateral securing their claims before any unsecured creditor gets paid. Where there are multiple secured creditors, the creditors with senio