Types of Creditors:
1. General Creditors – A general creditor has a claim only against the total assets of the debtor. A general creditor cannot force the debtor to pay the claim until he obtains a lien on the debtor’s property.
2. Secured or Lien Creditors – A secured creditor possesses an interest in some specific property of the debtor to which he may look to satisfy his claim. The interest the secured creditor owns is called a lien. There are three type of secured (lien) creditors:
a. Consensual lienors have acquired their interest in their debtor’s property by agreement.
b. Statutory lienors have acquired their interest in the debtor’s property by force of a statute.
c. Judicial lienors have acquired their interest in their debtor’s property by use of some legal process.
As usual, every law has exceptions. Consult with a Charlottesville attorney to get the full scoop.