Credit Card Glossary: Terms and Definitions
Unsecured debt is debt that is not backed by collateral. Unsecured debt includes credit card debt, medical bills, utility bills and any other type of credit that was extended without collateral. When a loan is backed by collateral, such as a house or car, it’s known as secured debt. Unsecured debt can be wiped out by bankruptcy.
Terms from A-Z
Search the CreditCards.com glossary for every credit-related term from "account holder" to "zombie debt." Select a letter for alphabetized terms and definitions.