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Term Definition

1. Secured creditors creditor that has a lien on an item of your property. A lien is an interest in
property that allows a creditor to have your property sold to satisfy your
debt to that creditor. Mortgage lenders and car lenders are secured
creditors. They have voluntary liens on your property.

2. Unsecured creditor who has no interest in any of your particular property.

creditors

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