A secured creditor is one is able to take a non-paying customer's property to satisfy the customer's debt.

Name: A secured creditor is one is able to take a non-paying customer's property to satisfy the customer's debt.
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Question

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A secured creditor has the legal right to take possession of the property pledged as collateral in the loan agreement in the event of non-payment by the customer. This is commonly seen in cases of car loans, home mortgages, and business loans where property is used as collateral.

A Secured Creditor Is One Is Able to Take a Non-Paying