partially secured debt
A debt that is secured by collateral that is worth less than the debt — for example, a $12,000 car loan that is secured by a car that's now worth only $10,000.
Category: Bankruptcy, Foreclosure & Debt → Bankruptcy
Category: Bankruptcy, Foreclosure & Debt → Debt & Collection Agencies

Nolo’s Plain-English Law Dictionary. . 2009.

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