Debt backed or secured by collateral to reduce the risk associated with lending. An example would be a mortgage, your house is considered collateral towards the debt. If you default on repayment, the bank seizes your house, sells it and uses the proceeds to pay back the debt.
Permanent underclass is emerging in UK, businesses warn. The Leeds city centre Job Centre Plus offices on the day figures showed youth unemployment had passed the 1m mark. Britain risks creating an underclass of people who are permanently excluded from the prospect of employment, a report published on Thursday warns.
A permanent disability rating, sometimes known as a permanent impairment rating, is an assessment of the severity of your permanent impairment. A permanent disability rating is important in calculating the amount of monetary compensation you are owed to compensate you for the permanent impairment related to your workplace injury or illness.