debtors


Also found in: Dictionary, Thesaurus, Legal, Encyclopedia.

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.

debtors (accounts receivable)

the money owed by individuals or firms because they have bought goods, services or raw materials for which they have not yet paid (trade DEBTORS), or because they have borrowed money. See CREDITORS (ACCOUNTS PAYABLE), DEBT, DEBTORS RATIO, CREDIT CONTROL, WORKING CAPITAL, BAD DEBT.
References in periodicals archive ?
In these circumstances, the insurance premiums required by National Union and the collateral posted by VP Debtors were intended to cover all deductible loss reimbursements under the program.
I would also encourage debtors to join the Facebook group"Banned Travel Support Group", you will find some very useful information and support.
Debtors lived in a trailer on the grounds of The Outpost for a year and a half.
One reason that debtors may feel compelled to enter into a reaffirmation agreement is because sections 362(h)(1)(A) and (B) of the Code provide that if the debtor fails to timely file the Statement of Intention and perform the stated intent, then the automatic stay will terminate on the thirty-first day after the petition was filed.
If your debtor owns a property, then an effective way of ensuring payment is by obtaining a charging order.
Preventing debtors' consumption from drastically falling is economically worthwhile because illnesses can turn into disabilities if debtors cannot pay for medical care, debtors and their families may become homeless if they cannot pay rent, and debtors' children may drop out of school in order to work, leading to lower earnings as adults.
Huntington also asserted a security interest in the Debtor's equipment and a mortgage on the Debtors real estate.
8) The purpose of the wild card exemption is to give extra personal exemptions to debtors who do not benefit from the homestead protection.
Debtors who are lessees under real property leases have certain rights regarding their lease under ASS 365 of the Bankruptcy Code.
Significantly, the security agreement in CIMC provided that one of the judgment debtors could have a distribution from the encumbered account to cover operating expenses.