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blanket lien

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Financial Dictionary

Blanket Lien

A lien covering nearly all types of assets and collateral owned by a debtor.

Investopedia Commentary

A lien usually only gives the creditor the right to a specific asset. A blanket lien gives the creditor a legal interest in all the debtor's assets and other collateral. Defaulting on a debt in this situation can result in "losing your shirt".

Related Links

The Importance of Your Credit Rating

See also: Collateral, Creditor, Encumbrance, Lien, Liquidation

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