debtor


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Debtor

Debtor

A person, company, or other organization that owes money to another individual, company, or organization. Generally speaking, a debtor acquires debt for a specific purpose, such as to fund a college education or to purchase a house. In business and government, debt is often issued in the form of bonds, which are tradeable securities entitling the bearer to repayment at the appropriate time(s), making the issuing government or business the debtor. A debtor almost always compensates a creditor with a certain amount of interest, representing the time value of money. However, some areas of finance, especially Islamic banking, do not allow debt with interest.

debtor

An individual or organization that owes a debt or has an obligation to another party. Compare creditor.

debtor

a person or business that owes money to individuals or firms for goods, services or raw materials that they have bought but for which they have not yet paid (trade debtors) or because they have borrowed money Debtors are also termed ‘accounts receivable’.

See CREDITORS, DEBT, CREDIT CONTROL, WORKING CAPITAL, BAD DEBT.

debtor

(1) One who owes a debt.(2) In bankruptcy,the person who requests protection under the bankruptcy laws.

References in periodicals archive ?
In the Cherry Growers case, a PACA creditor similarly claimed a PACA trust interest in all of a debtor's assets, perishable and non-perishable, because the debtor had previously used the proceeds of PACA trust assets to pay debts secured by the debtor's equipment and real estate.
The lawyer quickly replied in fluent legalese that Debtor Debbie most certainly filed for relief under Ch.
But what if the debtor is not in default as of the bankruptcy filing, and yet the trade creditor still has grave concerns as to its now-bankrupt customer's ability to make its payments moving forward?
332) According to the CIMC court, the debtor could not assign or transfer its interest in the collateral accounts, as these were encumbered by senior security interests.
Debtors can include objections to the record if the debtor believes that the record is biased and unreliable, and the lender has refused to exclude or to modify it.
The trustee's objective is 1) to determine the accuracy of the information provided by the debtor, 2) marshal all of debtor's nonexempt assets, and 3) convert all nonexempt assets to cash and pay creditors based upon the priority scheme provided by the Bankruptcy Code (11 USC section 704[a]).
Asharq Al-Awsat newspaper said its sources claimed more than 5,000 prisoners have case pending in Jeddah, of which 2,800 are in debtors.
So if your individual debtor wins the lottery or your company debtor suddenly starts doing a roaring trade before the six years are up, you're in luck as you could commence enforcement action at that stage.
Like most debtors-in-possession, VP Debtors was required to secure workers' compensation insurance after LTV and VP Debtors filed for bankruptcy.
The debtor is now banned from leaving, banned from working and therefore effectively banned from repaying the debt back to the creditor.
6) The debtors' current monthly income is defined as their average income for the six calendar months preceding the date of filing, (7) meaning that if a debtor files on July 15, 2008, then his or her monthly income from January 1, 2008, to June 30, 2008, will be considered.
A chapter 7 debtor must file a number of documents, including schedules of income, expenses, assets, and liabilities.