UK Accounting Glossary
An unsecured creditor is a creditor other than a preferential creditor that does not have the benefit of any security interests in the assets of the debtor.
This refers to a person who is owed money by an organisation but who have not 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.
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Definitions for Unsecured Creditor are sourced/syndicated and enhanced from:
This glossary post was last updated: 4th May 2019.