An unsecured debt or unsecured claim is one where the creditor does not have any rights in collateral. Strictly speaking, unsecured debt includes both general unsecured debt such as most credit cards, personal loans, unpaid bills, and student loans, as well as priority unsecured debt such as tax claims and alimony, although the term is sometimes used as a synonym for general unsecured debt.

Subscribe to RSS - Unsecured