A debtor is defined as an individual or firm that owes a particular amount to a lender, payable at a future date or period. A creditor is the supplier of a loan or credit facility and usually makes money out of interest on the debt. : 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.” debtor in American English (ˈdetər) noun a person who is in debt or under financial obligation to another (opposed to creditor) A debtor is a company or individual who owes money to a lender.
Debtors are also often referred to as borrowers. Read about the laws that protect them. What Is a Debtor and How Is It Different From a Creditor? When a client is issued with a bill, the amount on the bill should be entered as debtors in the firm's accounts.
define debtor, Definition of debtor noun in Oxford Advanced Learner's Dictionary. Meaning, pronunciation, picture, example sentences, grammar, usage notes, synonyms and more. DEBTOR definition: a person who is in debt or under financial obligation to another (creditor ). See examples of debtor used in a sentence.
