Definition, Meaning & Synonyms
debtor
Noun
/ˈdɛb.tər/
Definition
A person or entity that owes money to another party.
Examples
- The debtor failed to make the scheduled payments on the loan.
- In bankruptcy cases, a debtor may seek relief from debts.
- The company was declared a debtor after defaulting on its loans.
Meaning
The term ‘debtor’ refers specifically to someone who is under an obligation to repay borrowed funds. This can include individuals, businesses, or organizations that have taken out loans or borrowed from creditors.
Synonyms
- borrower
- obligor
- debtee
