Secured Creditor - Definition
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What is a Secured Creditor?
A secured creditor is a creditor (someone who is owed money by a debtor) who has a claim of right to property of the debtor if the debtor does not pay the debt owed. As an enforcement mechanism, if the debtor does not pay, the secured credit may be able to repossess or force the sale of the property (collateral) that is used to secure payment of the loan.