Unsecured Debt
Unsecured Debt
A debt is unsecured if there is no collateral, or to the extent the value of collateral is less than the amount of the debt. Common types of unsecured debt are credit cards or personal loans.
A debt is unsecured if there is no collateral, or to the extent the value of collateral is less than the amount of the debt. Common types of unsecured debt are credit cards or personal loans.