Unsecured

Some articles on unsecured:

Secured Transaction
... security interest) from those creditors who are unsecured ... An unsecured creditor is simply a person who is owed money and has not received payment according to the terms of the agreed upon transaction ... debtor who has multiple creditors, the distinction between being a secured creditor and an unsecured creditor is huge in the eyes of the law ...
General Assignment - The United States - Creditors
... Secured and unsecured creditors constitute the creditor body ... Both secured and unsecured creditors are ahead of shareholders as noted earlier ... or assets places the secured creditor's claim ahead of the unsecured creditor ...
Debtors Anonymous - Concepts
... An overestimation may result in incurring unsecured debt ... Abstinence" in DA is abstaining from incurring any new unsecured debt, a strict definition that includes not paying bills when due, borrowing money from a ... If a member has abstained from incurring unsecured debt for a day, he or she is "solvent" for that day ...
Captain John's Harbour Boat Restaurant - Bankruptcy, Closure and Sale Attempts
... John's filed for bankruptcy, owing over $5 million to various creditors including $3 million to unsecured creditors ... Letnik's bankruptcy proposal involved the repayment of all unsecured creditors owed $5000 or less and a repayment of no more than $30000 to all other unsecured creditors ...
Unsecured Creditor
... 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 ... of the bankruptcy of the debtor, the unsecured creditors usually obtain a pari passu distribution out of the assets of the insolvent company on a liquidation in ... Although in a liquidation the unsecured creditors will usually realize the smallest proportion of their claims, in some legal systems, unsecured creditors who are also indebted to the ...

More definitions of "unsecured":

  • (adj): Without financial security.
    Example: "An unsecured note"
    Synonyms: unguaranteed