unsecured
adj.describes a loan or debt that is not protected by an asset like a house or car. If you cannot pay the money back, the lender has no specific property to take from you.
adj.referring to a loan or debt that is not backed by collateral. Often used in financial contexts to describe credit that relies solely on the borrower's creditworthiness.
“Credit cards are a common type of unsecured debt.”
“Because the loan was unsecured, the bank charged a much higher interest rate to cover the increased risk.”
“The company's balance sheet showed a significant amount of unsecured liabilities, making it vulnerable to a sudden downgrade in its credit rating by major agencies.”
Typically used attributively before nouns like 'loan', 'debt', or 'credit'.
“Rahm topped the list of unsecured creditors, being owed $7.5m (£5.5m) in Q3 of this year, while the next four spots were filled by DeChambeau, Dustin Johnson, Cameron Smith and Adrian Meronk.”