Secured Debt

Starker Exchange

A debt that gives the creditor the right to take property pledged as security for the debt (collateral) if the debtor does not pay. for example, a creditor can repossess a car if the debtor defaults on the car loan. compare: unsecured debt

Was This Term Helpful?

0 out of 0 found this helpful

Still got a question or concern?

Click here to contact us or go back to the main Glossary page.