debtor n : a person who owes a creditor; someone who has the obligation of paying a debt [ant: creditor]

English

Pronunciation

• a RP
  • /ˈdɛt.ə/, /"dEt.@/
• a AusE
  • /ˈdet.ə/, /"det.@/
• a GenAm
  • /ˈdɛt.ɚ/, /"dEt.@`/
• Rhymes with: -ɛtə(r)

Noun

1. A person or firm that owes money; one in debt; one who owes a debt
2. : One who owes another anything, or is under obligation, arising from express agreement, implication of law, or principles of natural justice, to pay money or to fulfill some other obligation; in bankruptcy or similar proceedings, the person who is the subject of the proceeding.

Antonyms

• creditor

Translations

Debtor is the person filing for bankruptcy in financial statements. Usually it is presented as one of the current assets.

In writing ledger accounts, a debtor's amount is written on the debit (Dr) side, as the name suggests. Debtor as it appears in balance sheet connotes same meaning as the accounts receivable (USA accountancy). In other words, a Debtor is someone who owes you money. It is the opposite of a Creditor who is someone to whom you owe money.

In economics a debtor (or a borrower) owes money to a creditor.

If the money owed becomes beyond the possibility of repayment, the debtor faces insolvency or bankruptcy; in the United Kingdom and some states of the United States until the mid-19th century, debtors could be imprisoned in debtor's prisons.