secured claim
secured claim
A loan or debt for which some form of property has been pledged or mortgaged (SA-Bankruptcy.com)

Where a claim is secured by a lien, the code limits that secured claim to the value of the property less any higher priority liens. Since the priority of payment of a secured claim is higher than unsecured claims, this determination can be very important to both the debtor and its creditors. The determination of secured status can occur at various times in the proceedings.
also see claim (Bernstein's Dictionary of Bankruptcy Terminology)

United Glossary of Bankruptcy Terms 2012.


Glossary of Bankruptcy.

Look at other dictionaries:

  • secured claim — USA A claim held by a creditor who has a perfected lien or a right of set off against the debtor s property. In a bankruptcy case, secured claims are satisfied before any other claims out of the proceeds of the collateral which secure them.… …   Law dictionary

  • claim — A right to payment (SA Bankruptcy.com) A right to payment, whether or not fixed, contingent, liquidated, disputed, or matured. (Bernstein s Dictionary of Bankruptcy Terminology) BAR DATE The date by which claims must be filed with the Bankruptcy… …   Glossary of Bankruptcy

  • secured creditor — An entity holding a claim against the debtor that is secured by a lien on property of the estate or that is subject to a right of setoff (SA Bankruptcy.com) A creditor holding a lien (secured claim) on property. (Bernstein s Dictionary of… …   Glossary of Bankruptcy

  • secured debt — debt backed by a mortgage, pledge of collateral or other lien. It is debt for which the creditor has the right to pursue specific pledged property upon default (Glossary of Common Bankruptcy Terms) A claim secured by a lien in the debtor s… …   Glossary of Bankruptcy

  • claim — n [Old French, from clamer to call, claim, from Latin clamare to shout, proclaim] 1 a: a demand for something (as money) due or believed to be due; specif: a demand for a benefit (as under the workers compensation law) or contractual payment (as… …   Law dictionary

  • secured creditor — see creditor Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. secured creditor …   Law dictionary

  • secured — adj 1 a: guaranteed or protected by security a secured claim b: constituting security secured property 2: having a security interest an interest rendering the primary lender secured 3: involving o …   Law dictionary

  • Claim club — Claim clubs, also called Actual Settlers Associations or Squatters Clubs, were a nineteenth century phenomenon in the American West. Usually operating within a confined local jurisdiction, these pseudo governmental entities sought to regulate… …   Wikipedia

  • Secured transactions in the United States — are an important part of the law and economy of the country. By allowing lenders to take a security interest in a debtor s asset as collateral, secured transactions provide lenders with greater confidence that they will be repaid. This increased… …   Wikipedia

  • claim — To demand as one s own or as one s right; to assert; to urge; to insist. A cause of action. Means by or through which claimant obtains possession or enjoyment of privilege or thing. Demand for money or property as of right, e.g. insurance claim.… …   Black's law dictionary

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