aking security for a debt is simply a way of collateral. Creditors who do this will have priority over competing creditors if the debtor files for bankruptcy or if the debtor otherwise defaults on its obligation to the creditor. A creditor may engage in a transaction that is not secured by collateral if a guarantor is applicable. This can be as if the debtor defaults on a payment the guarantor would be held liable.Are you agree  with this  statement?Why or why not?Explain