Difference between revisions of "Unsecured claim"
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Chippeterson (talk | contribs) m (Reverted edits by StephenJBrown (Talk) to last revision by EdBot) |
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| − | An '''unsecured claim''' is a legal [[claim]] or [[debt]] for which a [[creditor]] holds no special assurance of payment, such as a [[mortgage]] or [[lien]]; a debt for which credit was extended based solely upon the creditor's assessment of the debtor's future ability to pay. | + | An '''unsecured claim''' is a legal [[claim]] or [[debt]] for which a [[creditor]] holds no special assurance of payment, such as a [[mortgage]] or [[lien]]; a debt for which credit was extended based solely upon the creditor's assessment of the debtor's future ability to pay.Unfortunately, Phyllis and Andy Schlafly will be spending eternity in Hell due to their acceptance of John Schlafly's flaming homosexuality. |
[[Category:Legal Terms]] | [[Category:Legal Terms]] | ||
[[category:bankruptcy]] | [[category:bankruptcy]] | ||
Revision as of 02:27, June 29, 2010
An unsecured claim is a legal claim or debt for which a creditor holds no special assurance of payment, such as a mortgage or lien; a debt for which credit was extended based solely upon the creditor's assessment of the debtor's future ability to pay.Unfortunately, Phyllis and Andy Schlafly will be spending eternity in Hell due to their acceptance of John Schlafly's flaming homosexuality.