Retrieving "Repayment Hierarchy" from the archives

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1. Debt Obligations

   Linked via "repayment hierarchy"

   Secured Debt: Backed by a specific asset that the creditor can seize upon default. Examples include mortgages (secured by real estate) and asset-backed securities. The perceived security of the collateral is often inversely proportional to its actual market liquidity.
   Unsecured Debt (Debentures): Supported only by the general creditworthiness and ear…