To receive the proceeds, before others, fom the sale of the secured property.
A secured creditor is one who has a contract with you that says if you fail to pay, the creditor can take a specified item you own to satisfy the debt. Most common are purchase-money loans, such as mortgages or car loans, but it can be any item.
Hindering a secured creditor means hiding or concealing property that is theirs. It can also mean not releasing information about a debtor that you would know.
In law 48, what is a creditor? Is law 48 fair to creditors?
Repossess or foreclose on the secured property if the agreement is in default.
yes
A creditor cant take you to court over a secured debt. However, if they have a security interest in any of your property, they can still foreclose on that property.
If you signed a Security Agreement, then your creditor has a secured claim on the collateral specified in the agreement.
I am not sure how it is for each state, but I do know that in the state of Tennessee it is a Class E felony and warrants can be served if everything meets the criteria of "Hindering a Secured Creditor".
A creditor is a person or organization to whom one owes money. A secured party creditor is one who has a lien on tangible property, such as a car or house, until the money is paid back.
This is not a question. If your question is, "What happens when the trustee moves the Court to declare a secured claim withdrawn," then one should object, particularly if the secured creditor still has a claim. If this is chapter 7, a secured creditor has no claim except on its collateral. In chapter 13, fight for your claim.
When there are two secured parties claiming security interest in the same collateral, the creditor that is perfected (having filed a financing statement) will have priority over the interests of an unsecured creditor or unperfected secured party
rights of surety against principal debtor and principal creditor