unsecured claim

unsecured claim
A claim held by a creditor who does not have a perfected lien or a right of setoff against the debtor's property. There is no collateral securing the claim. Unlike general unsecured claims which have no priority, unsecured claims may or may not have priority. For example, certain claims and wages of employees are unsecured claims with priority, while most trade claims are unsecured claims without priority.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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  • unsecured claim — a claim or debt for which a creditor holds no special assurance of payment; a debt for which credit was extended based solely upon the creditor s assessment of the debtor s future ability to pay (Glossary of Common Bankruptcy Terms) A pre… …   Glossary of Bankruptcy

  • general, unsecured claim — Creditor s claim without a priority for payment for which the creditor holds no security (or collateral). If the available funds in the estate extend to payment of unsecured claims, the claims are paid in proportion to the size of the claim… …   Glossary of Bankruptcy

  • general unsecured claim — USA A creditor s claim which is not secured by any collateral and for which there is no priority for payment (they are neither administrative claims nor priority claims). If there are estate funds available to pay creditors holding such claims,… …   Law dictionary

  • claim — A right to payment (SA Bankruptcy.com) A right to payment, whether or not fixed, contingent, liquidated, disputed, or matured. (Bernstein s Dictionary of Bankruptcy Terminology) BAR DATE The date by which claims must be filed with the Bankruptcy… …   Glossary of Bankruptcy

  • unsecured creditor — see creditor Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. unsecured creditor …   Law dictionary

  • unsecured — un·se·cured /ˌən si kyu̇rd/ adj: not secured: as a: not guaranteed or protected as to payment, performance, or satisfaction by a security interest or by property given or pledged as security unsecured debt an unsecured claim b: characterized by a …   Law dictionary

  • claim — n [Old French, from clamer to call, claim, from Latin clamare to shout, proclaim] 1 a: a demand for something (as money) due or believed to be due; specif: a demand for a benefit (as under the workers compensation law) or contractual payment (as… …   Law dictionary

  • unsecured — A claim or debt is unsecured if there is no collateral that is security for the debt. Most consumer debts are unsecured. (Bankruptcy in Brief) United Glossary of Bankruptcy Terms 2012 …   Glossary of Bankruptcy

  • Claim in bankruptcy — Bankruptcy in the United States Bankruptcy in the United States Authority · History U.S. Trustee Court  …   Wikipedia

  • claim — To demand as one s own or as one s right; to assert; to urge; to insist. A cause of action. Means by or through which claimant obtains possession or enjoyment of privilege or thing. Demand for money or property as of right, e.g. insurance claim.… …   Black's law dictionary

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