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- DictionaryUn·se·cured/ˌənsəˈkyo͝ord/
adjective
- 1. (of a loan) made without an asset given as security.
- 2. not made secure or safe: "the maid had been responsible for leaving the room unsecured"
People also ask
What is an unsecured loan?
What is unsecured?
What is the difference between secure and unsecure?
What is the difference between secured and unsecured loans?
The meaning of UNSECURED is not protected or free from danger or risk of loss : not secured. How to use unsecured in a sentence.
Unsecured definition: not secured, especially not insured against loss, as by a bond or pledge. See examples of UNSECURED used in a sentence.
relating to a loan (= an amount of money that is lent) for which the person who has lent the money has no right to take property from the person who has borrowed it, if the money is not paid back: With an unsecured loan you do not offer your home as security and it is therefore a popular form of borrowing among consumers.
not made safe; not protected from danger or risk: According to the insurance company's report, the garage door had been left unsecured. SMART Vocabulary: related words and phrases. (Definition of unsecured from the Cambridge Advanced Learner's Dictionary & Thesaurus © Cambridge University Press) unsecured | Business English. adjective.
- What Is unsecured?
- Understanding Unsecured
- Unsecured vs. Secured Loans
- Example: Problems with Foreclosures
Unsecured refers to a debt or obligation that is not backed by any sort of collateral. Collateral is property or other valuable assets which a borrower offers as a way to secure the loan, which is found in secured debt. In an unsecured loan, the lender will loan funds based on other borrower qualifying factors. These qualifying factors include cred...
Unsecured loans present a high risk to lenders. Because there is no collateral to take as recourse if the borrower defaults on the loan, the lender has nothing of value to claim against, and cover their costs. Default happens when the debtor is unable to meet their legal obligations to pay a debt. Instead, of demanding the collateral, the lender wi...
Many people are already familiar with secured loans in the form of mortgages and auto loans. In both of those cases, seizing the collateral which secures the loan can happen in the event of a default. For mortgages, this occurrence is called a foreclosure. Once a borrower has missed a payment the default process has begun. The servicer will complet...
With the 2006 housing market crash, foreclosed properties flooded the market. This massive influx of homes drove the value of all houses downward. Before the crash, home values increased exponentially, making a bubble. When the housing market bubbleburst, the problem was two-fold. First, the surplus of houses led to lower overall home values. Becau...
- Julia Kagan
(of a person or company) having given somebody a loan without security (= an agreement that they will give you valuable property if they cannot pay the money back) unsecured creditors. not locked, guarded or protected. unsecured windows. See unsecured in the Oxford Advanced American Dictionary. Check pronunciation: unsecured.
Unsecured means not having a specific asset or guarantee as security for a loan or a creditor. Learn the meaning, synonyms, antonyms, and translations of unsecured in different contexts and languages.
