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Unsecured, or general, creditors

• Creditors who have a general claim against all the firm's assets other than those specifically pledged as collateral.

 
 

Follow this link for all the terms related to credit.

 
 Embedded terms in definition
 Assets
Collateral
 
 Related Terms
 Best interests of creditors test
Secured creditors

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Tips for Trying to Fix a Clogged or "Frozen" Home Equity Line: For years, homeowners have turned to home equity lines of credit (HELOCs) as a way to borrow against their home's value to pay for college tuition, home improvements, medical bills and other major expenses. (A home's equity is the market value minus what is owed on the mortgage. If you owe $100,000 on your mortgage but your home is worth $250,000, your equity is $150,000.) More...

Great spirits have always found violent opposition from mediocrities. The latter cannot understand it when a man does not thoughtlessly submit to hereditary prejudices but honestly and courageously uses his intelligence. - Albert Einstein

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