Debtor - Wikipedia A debtor or debitor is a legal entity (legal person) that owes a debt to another entity The entity may be an individual, a firm, a government, a company or other legal person The counterparty is called a creditor When the counterpart of this debt arrangement is a bank, the debtor is more often referred to as a borrower If X borrowed money from their bank, X is the debtor and the bank is
Who Is the Debtor and Creditor and What Are Their Rights? A debtor is any person or business that owes money; a creditor is the person or business that is owed These two roles define virtually every financial relationship, from a mortgage to an unpaid electric bill, and the rights each side holds depend entirely on which role they occupy
What Is a Debtor, and How Is It Different Than a Creditor? (2026) What Is a Debtor? A debtor is a company or individual who owes money If the debt is in the form of a loan from a financial institution, the debtor is referred to as a borrower, and if the debt is in the form of securities—such as bonds—the debtor is referred to as an issuer Legally, someone who files a voluntary petition to declare bankruptcy is also considered a debtor
Debtor - Meaning, Examples, Prison, How it Works? Debtor Meaning A debtor is a borrower who is liable to pay a certain sum to a credit supplier such as a bank, credit card company or goods supplier The borrower could be an individual like a home loan seeker or a corporate body borrowing funds for business expansion
DEBTOR Definition Meaning | Dictionary. com DEBTOR definition: a person who is in debt or under financial obligation to another (opposed to creditor) See examples of debtor used in a sentence
debtor | Wex | US Law | LII Legal Information Institute debtor A debtor is someone who owes a debt or obligation to someone else Most commonly, this is the obligation to pay money A classic example is within the situation where a bank extends a loan to an individual or business entity, creating the obligation for the individual or business entity, as the debtor, to pay back the loan plus interest
Debtor Definition - What Does Debtor Mean? - Legal Explanations Debtor Definition and Legal Meaning On this page, you'll find the legal definition and meaning of Debtor, written in plain English, along with examples of how it is used What is Debtor? A person or company owing debt is a debtor In legal proceedings the party declaring bankruptcy is the debtor