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Unsecured claim (view source)

Revision as of 15:28, November 14, 2007

24 bytes added ,  15:28, November 14, 2007
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An '''unsecured claim''' is a [[claim]] or [[debt]] for which a [[creditor]] holds no special assurance of payment, such as a [[mortgage]] or [[lien]]; a debt for which credit was extended based solely upon the creditor's assessment of the debtor's future ability to pay.
 
An '''unsecured claim''' is a [[claim]] or [[debt]] for which a [[creditor]] holds no special assurance of payment, such as a [[mortgage]] or [[lien]]; a debt for which credit was extended based solely upon the creditor's assessment of the debtor's future ability to pay.
 
[[category:legal terms]]
 
[[category:legal terms]]
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[[category:bankruptcy]]
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