A debtor is an entity that owes a debt to another entity. The entity may be an individual, a firm, a government, a company or other legal person. The counterparty is called a creditor. When the counterparts of this debt arrangement is a bank, the debtor is more often referred to as a borrower.
Read more about Debtor: Default, Debtor in Bankruptcy and Individual Voluntary Arrangements, Other Uses
Famous quotes containing the word debtor:
“Every novel is a debtor to Homer.”
—Ralph Waldo Emerson (1803–1882)