Talk:Unsecured debt

clarify

wtf does this mean!! please include some wiki links: "In some legal systems, unsecured creditors who are also indebted to the insolvent debtor are able (and in some jurisdictions, required) to set-off the debts, which actually puts the unsecured creditor with a matured liability to the debtor in a pre-preferential position." 63.201.81.18 (talk) 22:18, 2 June 2011 (UTC)max

Response: "it means if the debt is greater than any prepayment that a secured creditor would receive from the debtor, then the unsecured creditor has to offset the debt owing by paying the secured creditor the deficiency owing thus becoming a debtor. This would be paid in a 'pre-preferential position' in other words in the case of multiple secured creditors - by order of the first registered." correct me if I am wrong. Thanks. — Preceding unsigned comment added by 174.89.17.228 (talk) 23:00, 12 October 2012 (UTC)

Links

I removed those links in the article since they were link-spam. Please don't add any more. Thanks--NeoNerd 08:14, 26 April 2007 (UTC)

Examples

For anyone knows more about the topic, could you provide some examples? I was hoping to find out if a warranty counts as an unsecured debt, for example. I've also heard recently that gift cards, in a court of law, are considered an unsecured debt (which just baffles me, since you paid in advance!). -Legaia (talk) 14:25, 12 December 2008 (UTC)

An example of unsecured debt would be the issue of commercial paper by a corporation. —Preceding unsigned comment added by 207.88.112.42 (talk) 16:09, 5 March 2009 (UTC)