The option a lender has for recovering losses against the personal assets of a secondary party who is also liable for a debt that is in default.
Related information about recourse:
- Recourse - Merriam-Webster Online
a : a turning to someone or something for help or protection <settled the matter without recourse to law>. b : a source of help or strength : resort <had no recourse ...
- Recourse debt - Wikipedia, the free encyclopedia
Recourse debt is a debt that is not backed by collateral from the borrower. Also known as a recourse loan, this type of debt allows the lender to collect from the ...
- Recourse Technologies
- recourse - definition of recourse by the Free Online Dictionary ...
re·course (r kôrs , -k rs , r -kôrs , -k rs ). n. 1. The act or an instance of turning or applying to a person or thing for aid or security: have recourse to the courts. 2.
- Recourse Loans and Non-recourse Loans - Personal Risk vs Losing ...
When you don't repay a loan, you take a risk. With recourse loans, lenders can try to collect money from you in a variety of ways. With non-recourse loans, ...
- Recourse | Define Recourse at Dictionary.com
access or resort to a person or thing for help or protection: to have recourse to the courts for justice. 2. a person or thing resorted to for help or protection. 3.
- Recourse Synonyms, Recourse Antonyms | Thesaurus.com
Synonyms for recourse at Thesaurus.com with free online thesaurus, antonyms, and definitions. Dictionary and Word of the Day.
- What is recourse? definition and meaning
Definition of recourse: Loan agreements: Legal right of a lender to seek repayment of the loan from the borrower's (and/or the guarantor's) unpledged personal ...