In the context of a secured transaction, which of the following is an inaccurate statement regarding priority disputes among creditors who claim interest in the same collateral? Multiple choice question. Priority disputes can arise between creditors who claim interest in the same collateral. Perfection is supposed to serve as protection of the secured party's interest in the collateral from other creditors. Priority disputes between creditors who claim interest in the same collateral are most likely to arise when a debtor files for bankruptcy. Priority disputes between creditors who claim interest in the same collateral are most likely to arise when a debtor is diagnosed with an illness