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Simple English definitions for legal terms

undersecured debt

Read a random definition: droit d'aubaine

A quick definition of undersecured debt:

An undersecured debt is when someone borrows money and puts something valuable up as collateral, but the value of that collateral is less than the amount of money they borrowed. This means that if they can't pay back the loan, the lender might not be able to get all their money back by selling the collateral. For example, if someone borrows $1,000,000 but puts up a house that's only worth $800,000 as collateral, the loan is undersecured.

A more thorough explanation:

An undersecured debt is a type of debt that is secured by collateral, but the value of the collateral is less than the total amount of the debt. This means that the creditor may not be able to recover the full amount of the debt if the debtor defaults on the loan.

For example, let's say that a person takes out a loan for $100,000 to buy a car. The car is used as collateral for the loan, but it is only worth $80,000. This means that the loan is undersecured, because the value of the collateral is less than the total amount of the debt.

Another example of undersecured debt is a mortgage on a house. If the value of the house decreases over time, the mortgage may become undersecured, because the value of the collateral (the house) is less than the total amount of the debt (the mortgage).

Undercapitalization | underwrite

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I got one answer so far from Mizzou and I was WL'ed but hey it's not the end it's just the beginning
that was Friday
WorthlessAttractiveZombie
14:26
keep swinging until you hear a bell
14:27
im from the future
14:27
kamala wins
14:27
276-262
I think she will too lol
WorthlessAttractiveZombie
14:27
since you're from the future, will fordham release today
14:28
no
WorthlessAttractiveZombie
14:28
fuck alright
14:28
not this week
14:28
dont even get ur hopes up u fool im from the year 2076
TheMidwestMonger
14:28
I'm terrified with how the world will react to Trump losing
WorthlessAttractiveZombie
14:28
damn, next question: should i eat the cheese that's been in my fridge for 3 weeks?
14:28
im pretty sure the world is gonna rejoice??
14:29
yes it is the key to immortality
TheMidwestMonger
14:29
Sorry, I meant the far right and their reaction lol
I live in alabama if she wins it's gonna be crazy here
14:30
same as last time whine that it was rigged go to court lose every time
good thing im bouncing next year
oh yeah
JumpySubsequentDolphin
14:31
why won’t ASU send my scholly info ☹️
WorthlessAttractiveZombie
14:31
they sent mine about 3 hours after i got the initial acceptance video thing
I just wanna hear back from them
14:31
the adcomm office got there at 10 am took a two hour lunch at 12 and left at 3:30 -- trust me im from the year 2076
lol
WorthlessAttractiveZombie
14:32
lavender, they should usually get back within a month of going complete
okie doke, thank u!
JumpySubsequentDolphin
14:35
@WorthlessAttractiveZombie: good to know! I thought I missed SMTH bc someone told me they got their admissions packet before the video lol
BulbasaurNoLikeCardio
14:35
I got school that have me under review for over a month... just hope it puts me in their first wave of As
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