What is the definition of Secured debt? | Dictionary.net

SECURED DEBT

\sɪkjˈʊ͡əd dˈɛt], \sɪkjˈʊ‍əd dˈɛt], \s_ɪ_k_j_ˈʊə_d d_ˈɛ_t]\

Definitions of SECURED DEBT

2010 - Legal Glossary Database

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A debt on which a creditor has a lien. The creditor can institute a foreclosure or repossession to take the property identified by the lien, called the collateral, to satisfy the debt if you default. Compare unsecured debt.

2010 - Legal Glossary Database
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