unsecured
adj. C1 Advanced US //ˌənsikˈjʊɹd// UK //ʌnsɪkjˈɔːd// un·se·cured
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.
Usage
Typically used attributively before nouns like 'loan', 'debt', or 'credit'.