How is a security interest created and how is it perfected? Provide an example. If you are the creditor, what is difference between having a perfected security interest and an unperfected interest? What is a reorganization bankruptcy and how is it different than an ordinary bankruptcy? Give examples of each. In a bankruptcy, what rights do secured creditors have over unsecured creditors, and why? Should federal law be changed that would allow students/former students to discharge their student loans in bankruptcy? Why or why not?