Creditor claim
A creditor’s stated right to be paid, particularly in litigation or an insolvency process where the amount may need to be proved.
Related terms
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Secured creditor
A creditor with enforceable security over an asset, giving it rights against that asset if the debt is not paid.
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Unsecured creditor
A creditor without specific security over the debtor’s assets, normally ranking behind secured and preferential claims in insolvency.
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Letter before claim
A pre-court letter setting out a proposed claim and giving the recipient an opportunity to respond before proceedings begin.
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