An unsecured debt is a term used to describe any debt that is not ‘secured’ against an asset. The asset can be a property, car, furniture or any other physical item that the lender could repossess if you don’t keep up payments on the agreement. A credit card is an example of an unsecured debt; if you don’t repay the credit card company, there is nothing they can repossess.
Unsecured debts can normally go into an IVA.