unsecured claim

Definition of "unsecured claim"
  1. A debt that lacks any specific assurance of payment from a debtor and relies on the debtor's projected ability to pay
How to use "unsecured claim" in a sentence
  1. Filing for bankruptcy left many businesses with unsecured claims.
  2. His unsecured claim against the company is not guaranteed to be paid off.
  3. The credit card debt was an unsecured claim as there was no collateral.
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