Partially secured debt

{
  "id": "MLC-T-LAW-003635",
  "term": "Partially secured debt",
  "field": "Law",
  "definition": "A loan or obligation for which the value of the collateral pledged by the debtor is less than the total amount of the debt. In the event of default, the creditor can seize and sell the collateral, but a portion of the debt remains unsecured. The unsecured portion is treated as a general unsecured claim in bankruptcy proceedings.",
  "url": "https://mlchart.com/terminology/law/partially-secured-debt/"
}