full recourse debt


Guarantee by a borrower that they will repay a debt, regardless of what other conditions occur. When using this type of loan, the lender is allowed to go after personal assets of the borrower to collect if there is no collateral for the loan and if the loan is in default.
Browse Definitions by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
full recourse full refund