"Borrower" redirects here. For other uses, see The Borrowers (disambiguation).
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A debtor or debitor is a legal entity (legal person) 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 counterpart of this debt arrangement is a bank, the debtor is more often referred to as a borrower.
If X borrowed money from their bank, X is the debtor and the bank is the creditor. If X puts money in the bank, X is the creditor and the bank is the debtor.
It is not a crime to fail to pay a debt. Except in certain bankruptcy situations, debtors can choose to pay debts in any priority they choose. But if one fails to pay a debt, they have broken a contract or agreement between them and a creditor. Generally, most oral and written agreements for the repayment of consumer debt – debts for personal, family or household purposes secured primarily by a person's residence – are enforceable.[1]
For the most part, debts that are business-related must be made in writing to be enforceable by law. If the written agreement requires the debtor to pay a specific amount of money, then the creditor does not have to accept any lesser amount, and should be paid in full.
Also, if there was no actual agreement but the creditor has proven to have loaned an amount of money, undertaken services or given the debtor a product, the debtor must then pay the creditor.
A debtor or debitor is a legal entity (legal person) that owes a debt to another entity. The entity may be an individual, a firm, a government, a company...
number of debtors days. Debtor days can also be referred to as debtor collection period. Another common ratio is the creditors days ratio. Debtor days =...
jurisdictions, bankruptcy is imposed by a court order, often initiated by the debtor. Bankrupt is not the only legal status that an insolvent person may have...
The Debtors is an American comedy film starring Michael Caine, Randy Quaid, Udo Kier, Catherine McCormack, Scott Atkinson, and Scott Wilson and directed...
A debtor in possession or DIP in United States bankruptcy law is a person or corporation who has filed a bankruptcy petition, but remains in possession...
period. Debtor collection period = Average debtors/ Credit sales × number of days365 (average debtors = debtors at the beginning of the year + debtors at the...
In English and American law, a judgment debtor is a person against whom a judgment ordering him to pay a sum of money has been obtained and remains unsatisfied...
Debtor and Creditor can refer to: Debtor Creditor Debt This disambiguation page lists articles associated with the title Debtor and Creditor. If an internal...
Debtors Anonymous (DA) is a twelve-step program for people who want to stop incurring unsecured debt. Collectively they attend more than 500 weekly meetings...
Debtor finance is a process to fund a business using its accounts receivable ledger as collateral. Generally, companies that have low working capital reserves...
A credit rating is an evaluation of the credit risk of a prospective debtor (an individual, a business, company or a government), predicting their ability...
pursuing payments of money or other agreed-upon value owed to a creditor. The debtors may be individuals or businesses. An organization that specializes in debt...
Debtor Nation: The History of America in Red Ink is a book written by Harvard economic historian Louis Hyman and published by Princeton University Press...
or wages of the judgment debtor. Once an emoluments attachment order has been granted, the employer of the judgment debtor (who is referred to as the...
tackle debt problems in debtor countries. The Paris Club treats public claims (that is to say, those due by governments of debtor countries and by the private...
In legal terms, however, the test for insolvency is whether or not the debtor's liabilities, fairly estimated, exceed his assets, fairly valued. Inability...
The Parable of the Two Debtors is a parable of Jesus. It appears in Luke 7:36–7:50, where Jesus uses the parable to explain that the woman who has anointed...
A Debtor to the Law is a 1919 American silent Western film starring Henry Starr, a convicted bank robber, as himself. The film is about Starr's attempts...
the debtor's "current monthly income" and the median income for the debtor's state. If the debtor's income exceeds the median income, then the debtor must...
Asset protection (sometimes also referred to as debtor-creditor law) is a set of legal techniques and a body of statutory and common law dealing with protecting...
the debtor's liability to pay certain types of debts they owe before filing the bankruptcy case. Once a bankruptcy discharge is granted, the debtor is...
often applied to determine how bankruptcy affects the property rights of debtors. For example, laws governing the validity of liens or rules protecting...
goods if a debtor is in default and the repossession can be conducted without a breach of the peace. Being "in default" means that the debtor has failed...
Non-debtors are more likely to receive their consideration if they are able to terminate their executory contracts with a debtor before the debtor files...
institution ensures that the liabilities of a debtor are going to be met. In other words, if the debtor fails to perform the obligation, the bank will...
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