unsecured creditor
Definition
Creditor who extended credit to a debtor without a collateral security. If the debtor files for bankruptcy or is levied upon, the unsecured creditors are paid on a pro-rata basis only after the claims of all secured creditors are satisfied.
Mentioned in these definitions
Popular 'Accounting & Auditing' Terms
unsecured creditor in the news
This content can be found on the following page:
http://www.businessdictionary.com/definition/unsecured-creditor.html







