debtor

n.

1. One that owes something to another.
2. One who is guilty of a trespass or sin; a sinner.

[Middle English dettour, from Old French dettor, from Latin dēbitor, from dēbitus, past participle of dēbēre, to owe. See debt.]

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. If the debt is in the form of securities, such as bonds, the debtor is referred to as an issuer.

Investopedia Says:
It is not a crime to fail to pay a debt. Except in certain bankruptcy situations, debtors can choose to pay debts in any priority they choose. But if you've failed to pay a debt, you have broken a contract or agreement between you and a creditor. Generally, most oral and written agreements for the repayment of consumer debt - debts for personal, family or household purposes secured primarily by a person's residence - are enforceable.

However, most debts for business or commercial purposes must be in writing to be enforceable. If the agreement requires the debtor to pay a certain amount of money, then the creditor does not have to accept a lesser amount. Also, if there was no actual agreement but the creditor has loaned money, performed services or provided the debtor with a product, that debtor must pay the creditor.

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Any individual or company that owes money. If debt is in the form of a loan from a financial institution, you might use borrower. If indebtedness is in the form of securities, such as bonds, you would refer to the issuer. See also Obligor.

Person obligated to repay a debt; opposite of Creditor.
Example: By buying a house with a mortgage loan, Cathy became a debtor.

n

Definition: borrower
Antonyms: creditor

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This entry contains information applicable to United States law only.

One who owes a debt or the performance of an obligation to another, who is called the creditor; one who may be compelled to pay a claim or demand; anyone liable on a claim, whether due or to become due. In bankruptcy law, a person who files a voluntary petition or person against whom an involuntary petition is filed. A person or municipality concerning which a bankruptcy case has been commenced.

IN BRIEF: One who owes something to someone else.

The debtor will have to repay the money she borrowed.

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