Difference between revisions of "Secured debt"
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| − | '''Secured debt''' is [[debt]] backed by a [[mortgage]], pledge of [[collateral]], or other [[lien]]; [[debt]] for which the [[creditor]] has the right to pursue specific pledged property upon default. Examples include home [[mortgage]]s, auto [[loan]]s and tax [[lien]]s. | + | '''Secured debt''' is [[debt]] backed by a [[mortgage]], pledge of [[collateral]], or other [[lien]]; [[debt]] for which the [[creditor]] has the right to pursue specific pledged property upon default. |
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| + | Examples include home [[mortgage]]s, auto [[loan]]s and tax [[lien]]s. | ||
[[Category:Legal Terms]] | [[Category:Legal Terms]] | ||
[[Category:Bankruptcy]] | [[Category:Bankruptcy]] | ||
[[Category:Law]] | [[Category:Law]] | ||
Latest revision as of 00:30, January 30, 2019
Secured debt is debt backed by a mortgage, pledge of collateral, or other lien; debt for which the creditor has the right to pursue specific pledged property upon default.
