debtor Hear it!

debtor Definition

debtor (det′ər)

noun

a person, company, nation, etc. that owes something to another or others

Etymology: altered (after L) < ME dettur < OFr detor < L debitor < debitus, pp. of debere: see debt

debtor Synonyms

debtor

n.

purchaser, borrower, defaulter, mortgagor, account, bankrupt, risk, deadbeat*, lame duck*, welsher*, fly-by-night*; see also buyer.

Antonyms creditor*, lender*, mortgagee.

debtor Finance Definition

A person or entity who seeks voluntary relief under the Bankruptcy Code or who has been forced involuntarily into a Chapter 7 or 11 bankruptcy case by petitioning creditors.

debtor Law Definition

n

One who owes a fixed sum of money to another; a person or entity filing, or becoming the subject of, a bankruptcy action.
debtor-in-possession
A debtor allowed by the bankruptcy court to continue operation of the business during the proceedings.
joint debtors
Two or more persons both liable for the same debt.
judgment debtor
One who owes a sum of money to another by virtue of a judgment that has previously been rendered.

debtor Usage Examples

Converse of object

  • imprison: He discussed the powers of the creditor to arrest and imprison a debtor.
  • trace: Creditors employ a variety of tactics to trace debtors.
  • chase: Some businesses use funny cartoon postcards and faxes to chase debtors.
  • notify: A debt of over £ 750 must be undisputed and the creditor must have notified the debtor of its intent to collect the debt.
  • pursue: We regularly pursue debtors in the UK and overseas.

Converse of subject

owe: They might include stocks of goods ( not just raw materials but also work in progress ) sums owed by debtors and cash balances.

Adjective modifier

  • deceased: There are three types: Probate: granted to executors named in a will made by the deceased debtor prior to death.
  • sundry: You can pay your service charge online by selecting sundry debtors in the fund drop down menu.
  • insolvent: Report from the Select Committee on Acts respecting insolvent debtors.
  • short-term: For the purposes of notes 22, 23 and 25 to 28, short-term debtors and creditors have been excluded.
  • principal: Caution involves a secondary obligation on the cautioner that is coextensive with the primary obligation of the principal debtor.

Modifies a noun

  • nation: The national debt in 2004 was a staggering 7.8 trillion dollars, making America the largest debtor nation in the world.
  • petition: See Part 3 for more details on the procedure for dealing with bankruptcy debtors petition cases.

Noun used with modifier

judgment: A charging order constitutes a lien on the judgment debtor 's limited liability company interest.

Possessives

  • petition: A debtor's Petition may be presented to the Court only on the grounds that the debtor is unable to pay his debts.
  • prison: A debtors ' prison for 150 years, with walls covered in prisoners ' graffiti.
  • creditor: A copy of this report and accounts should be sent to the debtor and all the debtor's creditors of whom he/she is aware.
  • earning: Attachment of Earnings when deductions are made directly from the debtor's earnings, to pay creditors.
  • asset: How do you obtain information about debtors ' assets?
  • circumstance: If the debtor attends the hearing, the judge will make a new order for payment based on the debtor's circumstances.