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.

News containing the term unsecured creditor

Loading...



http://www.businessdictionary.com/definition/unsecured-creditor.html

Search for another term


Enter your email address to get our free Term of the Day newsletter!
Privacy Policy

Tools

unsecured creditor is...

... in the subjects
Accounting & Auditing
Banking, Commerce, Credit, & Finance

Nearby Terms

Popular 'Accounting & Auditing' Terms

Search volume for unsecured creditor

Browse by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z