Introduction

Question 1

What is a lien?

Answer 1

A judgment is used to obtain a lien which protects the rights of the creditor in the debtor’s property against other creditors
* Other creditors must be put on notice of the existence by some public act

Question 2

What is a “general” creditor?

Answer 2

One who has a claim against only the total assets of the debtor and must obtain a lien on the debtor’s property before the debtor can be forced to make payment

Question 3

What is a “secured” creditor?

Answer 3

One who possesses a lien in specific property of the debtor