Debt is pervasive in the American economy. Security interests, mortgages, and liens are the legal devices by which the parties to loans, deals, and other transactions establish the power relationship among them. The course focuses on developing practical legal skills in problem solving, statutory interpretation, and the formulation of legal strategy. The transactions explored range from routine consumer purchases to complex business transactions. Subtopics include foreclosure; repossession; replevin; judicial sales; default; acceleration; reinstatement and cure; modification of debt in bankruptcy; the attachment, perfection, and priority of security interests; filing systems; bankruptcy avoiding powers; cross-collateralization; marshaling; and statutory liens.