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The debtor is the party responsible for payment obligation on an account.

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Q: What is the party called responsible for payment an obligation?
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Related questions

Who is responsible when a recurring payment is not made?

The paying party or his surety.

What does responsible party mean?

If its under the payment section, it translates as "who will pay this bill?"

What party pays the fees associated with a stop payment check?

Unless previously agreed upon when the check was used as tender, the party who demands stop payment is responsible for all fees associated with the process.

If I were to Cosign for someone so they could get a car what happends What is my obligation then?

You could be held liable for the payments if the other party defaults. Your signing the contract is "insurance" for the lender that payments will be made, and they will consider you responsible if the primary party defaults.

Who is responsible for student loan debt after your death?

The student's estate is responsible for paying their debt unless there was a co-signer. If there is no estate the lender is out of luck. If there was a co-signer the lender will seek payment from that party.

What is the definition of a 'payor'?

A payment is the transfer of wealth from one party (such as a person or company) to another. A payer is the party making a payment. The payee is the party receiving the payment.

What is a three party fed wire?

Actually, it is called a third party Fedwire. What it means is that a Fedwire payment, which is a real-time payment made over the Federal Reserve's Fedwire Funds Transfer system is being either initiated or received by a bank's customer (the "third party"). Many Fedwire payments are between banks (from one bank to another bank). But when a Fedwire payment involves a bank's customer, it is called a "third party" Fedwire.

Can the 'responsible party' be sued?

The "responsible party" is the party who is found to be liable for the occurrence that forms the basis of the suit. Hence, there is no "responsible party" until the case has been adjudicated.

Can you make a cosinger's agreement in which you obtain ownership if the other party misses his payment?

That's what they do at the bank, if the main person does not make the payments the cosigner is responsible to take it over.

What is the discharge of contracts?

When neither party has an obligation under a contract anymore

Can A Car loan deficiency be owed in California if the Car is repossed?

Yes. As the comaker on a loan, you are equally responsible for its payment. In the event the other party defaults, you either pay the loan yourself, convicne the other party to, or if able file bankruptcy.

Who is the drawer of a third party check?

the party to whom payment is to be made