Debtor
ˈdetər
Definitions
A person or entity that owes a debt to another.
ˈdetər
A person, organization, or country that owes money.
The debtor failed to make the scheduled payment.
💡 Simply: Imagine you borrowed money from your friend to buy a cool toy. You are the debtor because you owe your friend that money back.
👶 For kids: Someone who owes money is a debtor. Like if you borrow a toy from a friend and have to give it back later!
More Examples
The bank contacted the debtors regarding their outstanding balances.
Bankruptcy proceedings offer a way for debtors to seek relief from their financial obligations.
How It's Used
"The company informed its debtors about the restructuring of its debts."
"The court summoned the debtor for failing to repay the loan."
From Middle English dettour, borrowed from Anglo-French dettour, from Old French deteur, from Latin debitōrem, accusative of dēbitor (“one who owes”), from dēbeō (“I owe”).
The term has been used in legal and financial contexts for centuries, with its meaning consistently related to owing money or obligations.
Memory tip
Think of someone who is 'in debt' - they're the debtor.
Word Origin
"one who owes"