Debtor: meaning, definitions and examples

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debtor

[ˈdɛtər ]

Definitions

^{Context #1 | Noun}

financial

A person or institution that owes a sum of money.

Synonyms

borrower, mortgagor, obligor.

Which Synonym Should You Choose?

Word	Description / Examples
debtor	This entry is a duplicate and should be omitted.
borrower	Use 'borrower' to talk about someone who has taken money, property, or goods on loan with the intent to return it or its equivalent. The focus is more on the act of borrowing rather than the inability to repay. The borrower must provide proof of income to qualify for the loan. Libraries have policies to ensure that borrowers return books on time.
obligor	Use 'obligor' to describe someone who is legally bound to provide a payment or service to another person under a contract or legal duty. This term is more formal and often used in legal and financial documents. The obligor is required to fulfill all duties outlined in the contract. In a surety bond agreement, the contractor is the obligor.
mortgagor	Use 'mortgagor' when referring to an individual or entity that takes out a mortgage loan secured by real estate. This term is most suitable in real estate and banking scenarios. The mortgagor agreed to the terms set forth by the bank to secure the property. As a mortgagor, he is responsible for making monthly mortgage payments to the lender.

Examples of usage

The debtor failed to make the monthly payments on time.
The company is struggling to collect outstanding debts from debtors.
The debtor filed for bankruptcy to discharge their debts.

^{Context #2 | Noun}

legal

A person who is legally required to do something, such as pay a debt or fulfill an obligation.

Synonyms

defaulter, indebted person, obligee.

Which Synonym Should You Choose?

Word	Description / Examples
debtor	Use when referring to someone who owes money, regardless of whether they're currently paying back or have defaulted, in formal and financial contexts. The company decided to take legal action against the debtor. As a debtor, she had to ensure timely payments.
obligee	Use when referring to someone to whom another person owes an obligation or duty, in legal and financial contexts. This term is often used more in contracts and formal agreements. The obligee has the right to demand timely repayment. According to the agreement, the obligee must be compensated.
indebted person	Use when referring to someone who owes money in a more general sense. This term can be used in both formal and informal contexts. She offered help to the indebted person with managing their finances. An indebted person might face difficulties securing new loans.
defaulter	Use when referring to someone who has failed to pay their debt on time, typically used in formal and legal contexts. This term has a negative connotation. The defaulter was issued a court notice after missing multiple payments. Defaulters will face penalties according to the contract terms.

Examples of usage

The court ordered the debtor to pay compensation to the plaintiff.
The debtor was found in contempt for failing to comply with the court order.

Interesting Facts

Etymology

The word comes from the Old French 'debiteor,' which means to owe.
Its roots can be traced back to the Latin word 'debitare,' meaning 'to owe' or 'to assign.'
The concept of being a debtor dates back to ancient civilizations like Mesopotamia, where record-keeping of loans was common.

Law

In legal terms, a debtor refers to someone who is in a formal agreement regarding their financial obligations.
Bankruptcy law in many countries offers debtors protection from creditors under specific conditions.
Debtors can sometimes negotiate their repayment terms with creditors to avoid bankruptcy.

Finance

A debtor might pay interest on the money owed, making the total amount to pay back larger over time.
People can be classified as personal or business debtors, with different implications for their financial health.
Good credit management can help debtors improve their financial standing and become creditworthy again.

Cultural Perspectives

In many cultures, owing money can result in social stigma, affecting one's reputation.
Historical literature often portrays debtors in various lights, highlighting themes of morality and responsibility.
In some societies, family members might help debtors to repay their debts to maintain family honor.

Psychology

Being in debt can cause significant stress and anxiety, impacting mental health.
Psychological factors, such as impulsivity or financial literacy, can influence why people become debtors.
Many people experience guilt or shame about their debt situation, affecting their self-esteem.

Translations

Translations of the word "debtor" in other languages:

🇵🇹 devedor

🇮🇳 ऋणी

🇩🇪 Schuldner

🇮🇩 debitor

🇺🇦 боржник

🇵🇱 dłużnik

🇯🇵 債務者 (さいむしゃ)

🇫🇷 débiteur

🇪🇸 deudor

🇹🇷 borçlu

🇰🇷 채무자 (chaemujja)

🇸🇦 مدين

🇨🇿 dlužník

🇸🇰 dlžník

🇨🇳 债务人 (zhàiwùrén)

🇸🇮 dolžnik

🇮🇸 skuldari

🇰🇿 борышкер

🇬🇪 მევალე

🇦🇿 borclu

🇲🇽 deudor

Word Frequency Rank

With rank #4,002, this word represents useful upper-intermediate vocabulary. Understanding and using it will help you express more complex ideas effectively.

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3999 belonged
4000 residential
4001 constraints
4002 debtor
4003 preparations
4004 drama
4005 emission
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