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Glossary

Unsecured Claim

An unsecured claim refers to a claim in which a creditor has a right to collect money from you but no special rights to your property or other specified means of repayment. In other words, when you borrowed the money, you did not put up your house or other property as collateral on the loan. Medical bills, most credit cards and personal loans all fall into the category of unsecured loans.

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