answersLogoWhite

0

A debtor is someone who owes money to you.

User Avatar

Wiki User

17y ago

What else can I help you with?

Continue Learning about General History

What is a debtor state?

A debtor state is a state that will not garnish wages or place leans on homes in the case of unpaid debts/bills ! There is not such a thing as a "debtor state" there are states that are considered "debtor friendly" rather than "creditor friendly" meaning that the states have existing laws that favor the debtor rather than the creditor when it relates to bankruptcy and lawsuits for monies owed. This does not necessarily mean that wages cannot be garnished, assets cannot be seized nor liens placed against real property, it simply means the debtor can sometimes avoid such action or can protect a large portion of his or her real and personal property.


What type of colony was Georgia when it was first settled?

Georgia was a debtor's colony.


Which U.S. colony banned slavery?

Georgia initially banned slavery because it was a debtor's colony.


Why did Oglethorpe found a colony in Gerogia?

because create refuge where debtor prisoners could work and pay off their debts


What place was created for the debtors?

The place created for debtors is typically referred to as a debtor's prison. These institutions were established in various countries, particularly in England, during the 16th and 17th centuries, to confine individuals who were unable to pay their debts. Debtor's prisons aimed to pressure individuals into settling their financial obligations, though they often led to further economic hardship for those incarcerated. Over time, the concept of debtor's prisons fell out of favor, and most modern legal systems no longer allow imprisonment for debt.