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debtor

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debt⋅or

  [det-er]
Use debtor in a Sentence
–noun
a person who is in debt or under financial obligation to another (opposed to creditor ).
Origin:
1250–1300; ME detto(u)r < AF dett(o)ur, de(b)tour, OF det(t)or < L dēbitōr-, s. of dēbitor, equiv. to dēbi-, var. s. of dēbēre (see debt ) + -tor -tor
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2009.
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debt·or   (dět'ər)   
n.  

  1. One that owes something to another.

  2. One who is guilty of a trespass or sin; a sinner.


[Middle English dettour, from Old French dettor, from Latin dēbitor, from dēbitus, past participle of dēbēre, to owe; see debt.]
The American Heritage® Dictionary of the English Language, Fourth Edition
Copyright © 2009 by Houghton Mifflin Company.
Published by Houghton Mifflin Company. All rights reserved.
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Financial Dictionary

Debtor

A company or individual who owes money. If the debt is in the form of a loan from a financial institution, the debtor is referred to as a borrower. If the debt is in the form of securities, such as bonds, the debtor is referred to as an issuer.

Investopedia Commentary

It is not a crime to fail to pay a debt. Except in certain bankruptcy situations, debtors can choose to pay debts in any priority they choose. But if you've failed to pay a debt, you have broken a contract or agreement between you and a creditor. Generally, most oral and written agreements for the repayment of consumer debt - debts for personal, family or household purposes secured primarily by a person's residence - are enforceable.

However, most debts for business or commercial purposes must be in writing to be enforceable. If the agreement requires the debtor to pay a certain amount of money, then the creditor does not have to accept a lesser amount. Also, if there was no actual agreement but the creditor has loaned money, performed services or provided the debtor with a product, that debtor must pay the creditor.

Related Links

Bond Basics Tutorial
The Importance of Your Credit Rating
When Companies Borrow Money

See also: Bond, Capital Structure, Credit Rating, Creditor, Debt, Debt Financing, Issuer, Writ of Seizure and Sale

Investopedia.com. Copyright © 1999-2005 - All rights reserved. Owned and Operated by Investopedia Inc.
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Financial Dictionary

debtor

An individual or organization that owes a debt or has an obligation to another party. Compare creditor.

Wall Street Words: An A to Z Guide to Investment Terms by David L. Scott.
Copyright © 2003. Published by Houghton Mifflin.
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Legal Dictionary

Main Entry: debt·or
Function: noun
: a person who owes a debt —see also BANKRUPT —compare CREDITOR, OBLIGEE, OBLIGOR
NOTE: The Bankruptcy Act of 1978 calls the person concerned in a bankruptcy case the “debtor” as opposed to the “bankrupt.”
Merriam-Webster's Dictionary of Law, © 1996 Merriam-Webster, Inc.
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Bible Dictionary

Debtor

Various regulations as to the relation between debtor and creditor are laid down in the Scriptures. (1.) The debtor was to deliver up as a pledge to the creditor what he could most easily dispense with (Deut. 24:10, 11). (2.) A mill, or millstone, or upper garment, when given as a pledge, could not be kept over night (Ex. 22:26, 27). (3.) A debt could not be exacted during the Sabbatic year (Deut. 15:1-15). For other laws bearing on this relation see Lev. 25:14, 32, 39; Matt. 18:25, 34. (4.) A surety was liable in the same way as the original debtor (Prov. 11:15; 17:18).

Easton's 1897 Bible Dictionary
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