Secured Debt
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An Unsecured Debt is a financial debt that is collateralized by a lien on specific borrower asset in the case of a failure to meet the terms for repayment.
- Example(s):
- Secured Household Debt, such as a Real-Estate Mortgage.
- …
- Counter-Example(s):
- See: Finance, Debt, Collateral (Finance), Lien, Bankruptcy, Liquidation, Secured Creditors, Set-Off (Law), Risk-Based Pricing, Usury, Loan Shark.