MLchartDataset catalogue

Unsecured debt

Term · Law · MLC-T-LAW-005107

A financial obligation not backed by collateral, meaning the lender has no specific asset to seize if the borrower defaults. Recovery for the creditor depends solely on the borrower's general creditworthiness and ability to repay. Examples include credit card balances, medical bills, and most personal loans.

Table 1. Record
IdentifierMLC-T-LAW-005107
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-005107",
  "term": "Unsecured debt",
  "field": "Law",
  "definition": "A financial obligation not backed by collateral, meaning the lender has no specific asset to seize if the borrower defaults. Recovery for the creditor depends solely on the borrower's general creditworthiness and ability to repay. Examples include credit card balances, medical bills, and most personal loans.",
  "url": "https://mlchart.com/terminology/law/unsecured-debt/"
}

Record 5,225 of 5,439 in Law terminology (MLC-0107). Request the full dataset.