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A debtor is a person or business that owes money to another person or business. For example, if you take out a car loan from your credit union, you're the debtor and the credit union is the creditor in this transaction. Sometimes, a debtor refers to someone who files for bankruptcy. What Is A Debtor? How Is It Different From A Creditor? | Bankrate bankrate.com ? personal-finance ? debt ? de... bankrate.com ? personal-finance ? debt ? de...
For example, 'A' borrows money from the Bank. A is the debtor, and Bank is the Creditor. But, if 'A' deposits money in the Bank, then, A is the Creditor, and Bank is here debtor. Short-Term debtor When the debt is provided for a short term (less than a year), the debtor is termed as short term. Debtor - Definition - The Economic Times - IndiaTimes indiatimes.com ? definition ? debtor indiatimes.com ? definition ? debtor
Statement of Financial Af·?fairs. : a written statement filed by a debtor in bankruptcy that contains information regarding especially financial records, location of any accounts, prior bankruptcy, and recent or current debt. called also statement of affairs.
Debtors are individuals or businesses that owe money, whether to banks or other individuals. Debtors are often called borrowers if the money owed is to a bank or financial institution, however, they are called issuers if the debt is in the form of securities.