Collateral Creditor's Rights Secured Creditor 
Jimerson Firm
NOVEMBER 16, 2020
When a borrower applies for a loan, most lenders require the borrower to pledge an asset as security for the repayment of the loan, i.e. collateral. In the event the borrower defaults, usually by failing to make loan payments, a secured creditor has a right to take possession of the collateral. 679.609, Fla.
Jimerson Firm
NOVEMBER 23, 2020
When a small business association (“SBA”) loan is converted to liquidation status, the lender must begin liquidating the collateral. The “Recoverable Value” is “the net dollar amount that a prudent lender could reasonably expect to recover by liquidating a particular piece of collateral.” See SOP 50 57. Liquidation Methods.
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Price Meese
SEPTEMBER 9, 2021
Steinberg and the firm are pleased to announce that he will be speaking in an upcoming Strafford live video webinar, “Bankruptcy and Secured Creditor Priority: Identifying, Resolving, or Avoiding Hidden and Springing Liens” scheduled for Wednesday, October 6, 1:00pm-2:30pm EDT.
Jimerson Firm
FEBRUARY 3, 2021
Foreclosures in Florida are judicial, meaning the secured creditor must file a lawsuit. 1) The Mobile Home Existed at the Time of the Mortgage and Is Identified as Collateral in the Mortgage Documents. 2) The Mobile Home Did Not Exist at the Time of the Mortgage and Is Not Listed as Collateral in the Mortgage Documents.
Sawin & Shea
NOVEMBER 15, 2023
And possibly the most common question people ask is credit card debt is secured or unsecured. Secured vs Unsecured Debt: What’s the Difference? In broad terms, if a debt is secured, it means it is backed up by collateral property. If a debt is unsecured, no collateral is put up as a guarantee to pay.
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