Unsecured credit is credit that you receive where there is nothing to back it up or no security provided for the credit, examples of unsecured credit are;
- credit cards,
- company credit card cards and gas cards
- utility bills like
- electrical, water or gas bills
- cell phone or telephone bills
- personal loans, rent and medical bills
- student loans
Unsecured credit is credit that was extended without having collateral given for the debt, like a credit card.
With unsecured debt, the debt holder cannot take back property when you stop paying, the creditor has to go to court and sue you for the cash value.