debtor
Sign in to saveAlso known as borrower
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.
~5 min read
Encyclopedic overview
9 sectionsContents
- The history of the term “debtor”
- Types of debtors
- Legislation
- Default
- Debtor in Bankruptcy and Individual Voluntary Arrangements
- Other uses
- See also
- References
- External links
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 the creditor. If X puts money in the bank, X is the creditor and the bank is the debtor.
Excerpted from Wikipedia’s “debtor” article, available under the CC BY-SA 4.0 licence.
Available in 43 languages
- Español
- Français
- Deutsch
- 中文
- Русский
- Português
- Italiano
- العربية
- Azerbaijani
- Bahasa Indonesia
- Basque
- Belarusian
- Catalan
- Chuvash
- Czech
- Danish
- Egyptian Arabic
- Esperanto
Show 24 more
via Wikidata sitelinks · CC0