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Definition of «debtor»

A debtor is an individual or entity that owes money to another person or organization. In other words, a debtor is someone who has taken out a loan and is obligated to repay it with interest over time according to the terms agreed upon in the contract.

Usage examples

  1. The debtor failed to repay the loan, resulting in a legal action against them.
  2. The bank issued a notice to the debtor demanding payment of their overdue credit card balance.
  3. The collection agency was hired to locate and contact the debtors who owed money to a specific company.
  4. The debtor filed for bankruptcy as they were unable to meet their financial obligations.
  5. In order to recover the money owed, the creditor took legal action against the debtor and obtained a court judgment.

Phrases with «debtor»

Sentences with «debtor»

  • Also, before you obtain a bankruptcy discharge you must complete a course of debtor education which teaches you how to handle consumer credit. (neweradebtsolutions.com)
  • Also, the justices ruled in favor of a student debtor in a case involving student loans and bankruptcy that was being watched closely by many in banking and higher education. (edweek.org)
  • The typical household income of student debtor households within these broad educational categories is virtually identical to households without student debt. (pewsocialtrends.org)
  • (see all sentences)

See also

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