| Unsecured
Creditor |
 |
A person or institution that lent money to a company or individual
without holding collateral on the property for security. This puts
the creditor in a high risk situation.
|
 |
This
is pretty uncommon, when you take out a mortgage a bank will always
hold your house as collateral for the loan in case you default.
|
|
|
|
Dictionary
