In general,secured parties have priority over unsecured creditors.

Name: In general,secured parties have priority over unsecured creditors.
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Generally,secured parties have priority over unsecured creditors.Thus,if two parties provide a loan based on the same collateral,the party with the secured interest will have priority in repossession of the collateral over the party with the unsecured interest.

In General,secured Parties Have Priority Over Unsecured Creditors