A secured creditor will achieve secured status only if its loan agreement contains a term that makes the entire loan due if one payment is missed.

Name: A secured creditor will achieve secured status only if its loan agreement contains a term that makes the entire loan due if one payment is missed.
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Question

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A secured creditor achieves secured status by having a security interest in the collateral, not necessarily by having a loan agreement term that accelerates the loan due to a missed payment.

A Secured Creditor Will Achieve Secured Status Only If Its