in case of insolvency accounts, list a gives the details regarding the
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In case of insolvency accounts, list a gives the details regarding the unsecured creditors.
- These creditors represent a specific person or independent entity that willingly grants necessary money as collateral not withstanding the stated properties.
- This presents a more considerable risk to the lender because should the borrower default on the loan, it will retain nothing to fall back on.
- Credit card companies, utilities, potential tenants, local hospitals and doctor's offices, and lenders who issue personal or student loans in common are some of the most standard forms of unsecured creditors.
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