Unsecured Debt

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Definition: Unsecured Debt

Unsecured Debt

Quick Summary of Unsecured Debt

A debt that is not tied to any item of property. A creditor doesn’t have the right to grab property to satisfy the debt if you default. The creditor’s only remedy is to sue you and get a judgment. Compare secured debt.

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Page URL
https://payrollheaven.com/define/unsecured-debt/
Modern Language Association (MLA):
Unsecured Debt. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
April 20, 2024 https://payrollheaven.com/define/unsecured-debt/.
Chicago Manual of Style (CMS):
Unsecured Debt. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
https://payrollheaven.com/define/unsecured-debt/ (accessed: April 20, 2024).
American Psychological Association (APA):
Unsecured Debt. PayrollHeaven.com. Retrieved April 20, 2024
, from PayrollHeaven.com website: https://payrollheaven.com/define/unsecured-debt/

Definition Sources

Definitions for Unsecured Debt 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: 23rd April, 2020 | 0 Views.