Glossary Of Debt Management & Financial Terms
Debtor
Somebody who owes the repayment of a debt to a creditor.
A debtor is an individual, partnership, company (or other business entity) which owes money. It is a debtor individual or debtor company which enters into bankruptcy or liquidation. A debtor also refers to a debt due from one business to another. a book debtor will be collected by the insolvency practitioner, to enhance the estate for the benefit of creditors.
