A creditor without a lien. Unsecured claims may or may not have priority.
A lender who has not taken any security over specific assets of the borrower. Therefore, the repayment of the loan is totally dependent on the borrower’s ability and will to pay.
A creditor who has a claim which is not backed by collateral or a security agreement, sometimes referred to as a general creditor.
One who extends credit on the general ability of the debtor to pay and holds no collateral or security.
One who has a claim against the wrongdoer but no specific claim against the property subject to forfeiture. Such a party lacks standing to contest a forfeiture action. Also known as a general creditor.
A creditor of a debt not secured by any collateral or mortgage.
a creditor to whom you have not given any particular collateral or security interest in a specific piece of property
a creditor without a valid lien or mortgage against property of the debtor
A creditor who does not have any security for the debt owing to them.
A creditor who does not hold security (such as a mortgage) or money owed. Some unsecured creditors may also be preferential creditors.
a creditor who, upon giving credit, takes no rights against specific property of the debtor.
A creditor who does not hold security (e.g. a mortgage) over a debt.
a creditor whose debt is not secured by property or collateral. This would include credit card debts.
a creditor who does not have the benefit of security such as a mortgage or other charge
Strictly, any creditor who does not hold security. More commonly used to refer to any ordinary creditor who has no preferential rights, although, in fact preferential creditors will almost always also be unsecured. In any event, the last in the queue, ahead only of the shareholders.
A creditor who advances credit without taking any rights against the property of the debtor.
A creditor who does not hold security for money owed.
Creditor who has no collateral covering their financial exposure. Almost all credit or charge cards fit into this category. The weakest position to be in during tough financial times, unsecured creditors are the largest employers of third-party debt collectors.
A creditor who does not hold security and who has no preferential rights. An unsecured creditor ranks last in the queue of creditors but ahead of shareholders.
A person or organisation who lends money to another without taking security over specific assets of the borrower, so that the lender is entirely dependent on the borrower's ability and willingness to repay. The lender is legally entitled to repayment but in the event of default ranks after secured creditors, debenture holders etc. in a claim on the borrower's assets.
A creditor (lender, supplier) that is owed money but does not have a lien on any of the assets of the company that owes the money (the borrower). When the company that owes the money is liquidated, the unsecured lender receives money only after the secured lenders have been paid. To Top
one of two general types of creditors of a company. The unsecured creditors have no liens on the property of the company.
someone who has lent money without taking security over specific assets
A person or institution that lends money to a company or individual without holding collateral on the property for security. This puts the creditor in a higher risk situation.
An unsecured creditor is a creditor which is not a preferential creditor and which does not have the benefit of any security interests over the assets of the debtor.