Meaning of “unsecured debt” in the English Dictionary

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"unsecured debt" in Business English

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unsecured debtnoun [ C or U ]


debt for which the lender has no right to the property or other assets of the borrower if the debt is not paid:

The total level of unsecured debt per household stands just short of $6900.

(Definition of “unsecured debt” from the Cambridge Business English Dictionary © Cambridge University Press)