hardik Soni
Joined: 16 Jun 2010
Posts: 42
Location: India
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| Posted: Sat Jul 31, 2010 1:31 pm Post subject: Unsecured Debt... |
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In finance, unsecured debt refers to any type of debt or general obligation that is not collateralised by a lien on specific assets of the borrower in the case of a bankruptcy or liquidation. Unsecured loans are also known as signature loans or personal loans.
In the event of the bankruptcy of the borrower, the unsecured creditors will have a general claim on the assets of the borrower after the specific pledged assets have been assigned to the secured creditors, although the unsecured creditors will usually realize a smaller proportion of their claims than the secured creditors. These loans are often used by borrowers for small purchases such as computers, home improvements, vacations or unexpected expenses. I could find just these little information from net and want to know something more and interesting about Unsecured Debt so anybody help me to search information about the same topic ?
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