partially secured debt

Definition of "partially secured debt"
  1. A loan backed by collateral that has less value than the amount of the debt
How to use "partially secured debt" in a sentence
  1. He was unable to pay back his partially secured debt because the value of the car that he put as collateral had decreased.
  2. Her partially secured debt for the jewelry alarmed her as the price of gold sank.
  3. The bank was reluctant to sanction another loan due to his history of partially secured debt.
Provide Feedback
Browse Our Legal Dictionary
# 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