Unsecured

2 Posts
1 Sections
1 Types

August 31, 2024 4 min read Definitions

Finance Accounting Debt Promise Informal Document Unsecured Payment

An IOU is an informal document acknowledging debt. It is a written promise to pay back money owed, but it does not qualify as a legally binding contract.

August 31, 2024 4 min read Definitions

Unsecured Creditor: Understanding Credit Without Collateral

Finance Banking Economics Creditor Finance Banking Unsecured Debt

An in-depth look at unsecured creditors, their role in finance and bankruptcy, and how they differ from secured creditors.