secured debt

  • Debt backed by a mortgage, pledge of collateral, or other lien; debt for which the creditor has the right to pursue specific pledged property upon default. Examples include home mortgages, auto loans and tax liens.

    United States Court of Appeals for the Ninth Circuit 1

1United States Court of Appeals for the Ninth Circuit, Commonly Used Terms - U.S. Courts, http://­www.ca9.uscourts.gov/­content/­view.php?pk_id=0000000237 (last accessed May 28, 2009).