unsecured debt

Definition of "unsecured debt"
  1. A liability where the lender can't claim specific property if the borrower fails to repay, as seen in obligations like credit card balances and healthcare costs
How to use "unsecured debt" in a sentence
  1. Her mounting credit card balances were forms of unsecured debt.
  2. Hospital bills from the recent surgery constituted a significant unsecured debt.
  3. The financial counseling advised him to primarily focus on clearing his unsecured debt.

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