After assets against which liens are held are disposed of,secured creditors participate equally with unsecured creditors.

Name: After assets against which liens are held are disposed of,secured creditors participate equally with unsecured creditors.
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Question

Quizplus · Accepted Answer

This statement is true. Once the assets against which liens are held are disposed of, the remaining proceeds are used to pay off all creditors equally, regardless of whether they held a secured or unsecured claim.

After Assets Against Which Liens Are Held Are Disposed Of,secured