unsecured creditor

Unsecured Creditor

One who is owed an uncollateralized debt. That is, an unsecured creditor has no lien or collateral on the debt. An unsecured creditor has no right to repossess any property in the event of default or bankruptcy. In the event of liquidation of the debtor's property, the unsecured creditor receives nothing until all secured creditors are repaid in full. Because of the extra risk associated with unsecured credit, it usually commands a higher interest rate. See also: Secured creditor.

unsecured creditor

A creditor with a claim for which no specific assets are pledged. A debenture holder is an unsecured creditor. Compare secured creditor.

unsecured creditor

see CREDITORS.

单词	unsecured creditor
释义	unsecured creditor Unsecured Creditor One who is owed an uncollateralized debt. That is, an unsecured creditor has no lien or collateral on the debt. An unsecured creditor has no right to repossess any property in the event of default or bankruptcy. In the event of liquidation of the debtor's property, the unsecured creditor receives nothing until all secured creditors are repaid in full. Because of the extra risk associated with unsecured credit, it usually commands a higher interest rate. See also: Secured creditor. unsecured creditor A creditor with a claim for which no specific assets are pledged. A debenture holder is an unsecured creditor. Compare secured creditor. unsecured creditor see CREDITORS.
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