unsecured creditor

unsecured creditor
unsecured creditor
a creditor who extended credit to a debtor without collateral security. If the debtor files for bankruptcy or is levied upon, the unsecured creditors are paid on a pro-rata basis only after the claims of all secured creditors are satisfied (Glossary of Common Bankruptcy Terms)

A creditor without a lien. Unsecured claims may or may not have priority.
Certain claims and wages for employees are unsecured claims. Most trade creditors are unsecured non-priority. (Bernstein's Dictionary of Bankruptcy Terminology)

one of two general types of creditors of a company. The unsecured creditors have no liens on the property of the company. (Common Bankruptcy Terms)

A creditor who holds no security but is either preferred or ordinary (Ontario Bankruptcy Dictionary)

United Glossary of Bankruptcy Terms 2012.

unsecured creditor
A creditor without a lien. Unsecured claims may or may not have priority. Certain claims and wages for employees are unsecured claims. Most trade creditors are unsecured non-priority.

US Bankruptcy 2012.


Glossary of Bankruptcy.

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Look at other dictionaries:

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  • Unsecured creditor — An unsecured creditor is a creditor which is not a preferential creditor and which does not have the benefit of any security interests in the assets of the debtor.In the event of the bankruptcy of the debtor, the unsecured creditors usually… …   Wikipedia

  • Unsecured Creditor — An individual or institution that lends money without obtaining specified assets as collateral. This poses a higher risk to the creditor because it will have nothing to fall back on should the borrower default on the loan. A debenture holder is… …   Investment dictionary

  • unsecured creditor — A person who is owed money by an organization but who has not arranged that in the event of non payment specific assets would be available as a fund out of which he or she could be paid in priority to other creditors. Compare secured creditor …   Big dictionary of business and management

  • unsecured creditor — /ˌʌnsɪkjυəd kredɪtə/ noun a creditor who is owed money, but has no security from the debtor for the debt …   Dictionary of banking and finance

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  • unsecured creditor — A person who is owed money by an organization but who has not arranged that in the event of non payment specific assets would be available as a fund out of which that person could be paid in priority to other creditors …   Accounting dictionary

  • general unsecured creditor — USA unsecured creditor, Also known as general creditor and general unsecured creditor. A creditor holding an unsecured claim, or having no liens against a debtor s property. Unsecured creditors have no rights against specific property of the… …   Law dictionary

  • ordinary unsecured creditor — A general creditor who has no priority, no preferred treatment and no security (Ontario Bankruptcy Dictionary) United Glossary of Bankruptcy Terms 2012 …   Glossary of Bankruptcy

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