debtor
A person or company that must pay money back to another person or company.
A person, company, or other entity that owes money to another party.
A person who feels they must thank or help someone because that person has done something for them.
Someone who is regarded as owing gratitude, help, or another non-financial obligation to another person.
- Base: debtor
- Plural: debtors
debtor and creditor
1the owing and owed parties
The two sides in a money situation: the person or group that owes money and the person or group that is owed money.
- The contract explains the rights of both debtor and creditor.
- In this course we will study debtor and creditor law.
- The meeting brought debtor and creditor together to agree on a new payment schedule.
debtor in possession
1debtor managing assets during bankruptcy
In bankruptcy law, a company that still controls and runs its business while it is under court protection from its creditors.
- Under Chapter 11, the company operates as a debtor in possession.
- As a debtor in possession, it must report regularly to the bankruptcy court.
- The debtor in possession sought permission to sell several key assets.
debtor nation
1country that owes more than it is owed
A country that, overall, owes more money to other countries and foreign banks than they owe to it.
- The report warned that the country had become a major debtor nation.
- As a debtor nation, it is highly sensitive to changes in global interest rates.
- Some debtor nations are pushing for easier terms on their foreign loans.
debtors' prison
1prison for people with unpaid debts
A prison where people were kept in the past because they could not pay their debts.
- In the nineteenth century, many poor people were sent to debtors' prison.
- The novel describes the harsh life inside a Victorian debtors' prison.
- Debtors' prisons are now illegal in many parts of the world.
judgment debtor
1person owing money under a judgment
A person or company that a court has decided must pay money to another person or company.
- The judgment debtor failed to pay the amount ordered by the court.
- If a judgment debtor does not pay, the creditor may ask the court to seize assets.
- The notice was sent to the judgment debtor's last known address.