Unsecured Credit

Business, Legal & Accounting Glossary

Definition: Unsecured Credit

Quick Summary of Unsecured Credit

Credit extended only on the basis of the debtor’s promise to repay, without any collateral security.

What is the dictionary definition of Unsecured Credit?

Dictionary Definition

An unsecured creditor is a person who is owed money by an organisation but who hasn’t arranged that in the event of non-payment specific assets would be available as a fund out of which that person could be paid in priority to other creditors.

Cite Term

To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
Modern Language Association (MLA):
Unsecured Credit. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. September 26, 2021 https://payrollheaven.com/define/unsecured-credit/.
Chicago Manual of Style (CMS):
Unsecured Credit. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/unsecured-credit/ (accessed: September 26, 2021).
American Psychological Association (APA):
Unsecured Credit. PayrollHeaven.com. Retrieved September 26, 2021, from PayrollHeaven.com website: https://payrollheaven.com/define/unsecured-credit/

Definition Sources

Definitions for Unsecured Credit are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 3rd January, 2020 | 0 Views.