Debtor definition: Copy, customize, and use instantly
Introduction
The term "Debtor" refers to an individual or entity that owes money or has an obligation to repay a debt under a contract or financial agreement. It is a crucial term in lending, credit, and financial transactions, as it defines the party responsible for fulfilling the repayment terms. Understanding the debtor’s obligations ensures clear communication in agreements and protects the interests of creditors.
Below are various examples of how "Debtor" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "Debtor" as a borrower
This definition ties "Debtor" to the party that borrows money or obtains credit.
"Debtor" means an individual or entity that has borrowed money or obtained credit from a creditor and is obligated to repay the debt in accordance with the terms of the agreement.
Definition of "Debtor" in the context of loan agreements
This definition connects "Debtor" to the responsibilities in a loan agreement.
"Debtor" refers to the party in a loan agreement who is responsible for repaying the principal and interest to the lender in accordance with the terms and conditions set forth in the contract.
Definition of "Debtor" as a financial obligor
This definition links "Debtor" to a broader obligation to fulfill financial responsibilities.
"Debtor" means any individual, organization, or entity that has a financial obligation to repay a debt or satisfy a liability under any form of agreement or contract.
Definition of "Debtor" as a party in default
This definition applies "Debtor" in the context of defaulting on an obligation.
"Debtor" refers to an individual or entity that has failed to fulfill their financial obligations under a contract, loan, or agreement and is considered to be in default.
Definition of "Debtor" in insolvency
This definition ties "Debtor" to a party in insolvency proceedings.
"Debtor" means a person or entity that is undergoing insolvency proceedings or has declared bankruptcy and owes money to creditors as part of the insolvency process.
Definition of "Debtor" as a responsible party
This definition connects "Debtor" to the party responsible for a financial liability.
"Debtor" refers to the individual or entity that is primarily responsible for repaying a debt or obligation under a signed contract or financial arrangement.
Definition of "Debtor" in the context of secured debt
This definition applies "Debtor" to those involved in secured debt agreements.
"Debtor" means the party that has pledged collateral to secure a loan or financial obligation and is required to repay the debt according to the terms of the secured loan agreement.
Definition of "Debtor" as a corporate borrower
This definition ties "Debtor" to corporate borrowing in financial agreements.
"Debtor" refers to a corporation or legal entity that has borrowed funds and is required to repay the debt under the terms of the financing agreement.
Definition of "Debtor" as a consumer borrower
This definition links "Debtor" to individual consumers who have taken on debt.
"Debtor" means an individual borrower who has taken on debt in the form of a loan, credit line, or any other financial agreement and is obligated to repay the debt to the lender.
Definition of "Debtor" in credit transactions
This definition connects "Debtor" to credit transactions, where payment obligations are owed.
"Debtor" refers to an individual or entity that has entered into a credit transaction and is responsible for repaying the borrowed amount under the agreed-upon terms.
Definition of "Debtor" as a defaulting borrower
This definition applies "Debtor" to a borrower who has defaulted on repayment.
"Debtor" means a person or entity who has failed to make payments as required under a loan or credit agreement and has been declared in default by the creditor.
Definition of "Debtor" as an individual in debt
This definition ties "Debtor" to an individual person who is in debt.
"Debtor" refers to an individual who owes money to another party or institution and is required to repay the debt under the terms of a financial arrangement or agreement.
Definition of "Debtor" in legal terms
This definition links "Debtor" to its legal status within financial or contractual obligations.
"Debtor" means any person or legal entity that owes a financial obligation to another party, and whose debt may be subject to legal action if not repaid according to the agreed terms.
Definition of "Debtor" as an entity in financial distress
This definition applies "Debtor" to an entity undergoing financial distress.
"Debtor" refers to an entity that is experiencing financial distress or difficulties in meeting its obligations, possibly leading to bankruptcy or restructuring proceedings.
Definition of "Debtor" in the context of debt recovery
This definition ties "Debtor" to debt recovery efforts.
"Debtor" means the party from whom the creditor seeks repayment of an outstanding debt, including any entity or individual engaged in the recovery process.
Definition of "Debtor" as an entity in bankruptcy
This definition links "Debtor" to a party that has filed for bankruptcy.
"Debtor" refers to an individual or corporation that has filed for bankruptcy protection and is seeking relief from creditors under a bankruptcy proceeding.
Definition of "Debtor" in debt restructuring
This definition applies "Debtor" to the role of a party in debt restructuring.
"Debtor" means the individual or entity involved in a debt restructuring process where they attempt to renegotiate the terms of their financial obligations with creditors.
Definition of "Debtor" as an obligor in a financial agreement
This definition connects "Debtor" to the obligor in any financial agreement.
"Debtor" refers to any individual or organization that has entered into a financial agreement, such as a loan or credit arrangement, and is obligated to repay the outstanding amounts according to the terms of the agreement.
Definition of "Debtor" as a party in litigation
This definition ties "Debtor" to litigation over debt obligations.
"Debtor" means the party involved in legal proceedings where a creditor is seeking repayment of a debt or damages arising from a default on financial obligations.
Definition of "Debtor" as a guarantor
This definition links "Debtor" to a guarantor’s role in debt agreements.
"Debtor" refers to an individual or entity that has agreed to assume responsibility for repaying a debt if the primary borrower fails to fulfill their obligations.
Definition of "Debtor" as a principal debtor
This definition applies "Debtor" to the primary party obligated to repay.
"Debtor" means the principal party responsible for the repayment of a debt, who is directly liable for fulfilling the terms of the financial agreement.
Definition of "Debtor" in cross-border transactions
This definition connects "Debtor" to international debt agreements.
"Debtor" refers to a party that owes money under a cross-border financial transaction or agreement and is responsible for repaying the debt in accordance with the terms of the international contract.
Definition of "Debtor" in consumer lending
This definition ties "Debtor" to consumer lending agreements.
"Debtor" means an individual who has borrowed money from a financial institution or lender and is obligated to repay the loan according to the terms of the consumer lending agreement.
Definition of "Debtor" in a debt recovery action
This definition links "Debtor" to a party involved in a debt recovery action.
"Debtor" refers to an individual or entity who is the subject of a debt recovery action, where the creditor is attempting to recover an outstanding debt.
Definition of "Debtor" in a loan default scenario
This definition applies "Debtor" to situations where a loan is in default.
"Debtor" means the individual or entity whose loan has been declared in default due to the failure to make timely repayments as stipulated in the loan agreement.
Definition of "Debtor" as a borrower in default
This definition connects "Debtor" to borrowers who are in default.
"Debtor" refers to an individual or entity that has defaulted on a loan or credit agreement and has failed to meet repayment terms under the contract.
Definition of "Debtor" in the context of overdue debt
This definition ties "Debtor" to overdue debts.
"Debtor" means a party that has failed to repay a debt within the agreed time frame, with the obligation now being classified as overdue and subject to collection efforts.
Definition of "Debtor" as an entity in debt collection
This definition links "Debtor" to entities involved in debt collection efforts.
"Debtor" refers to an individual or company that is subject to debt collection efforts, where the creditor is actively pursuing repayment through various means.
Definition of "Debtor" as a payment obligor
This definition connects "Debtor" to their role in payment obligations.
"Debtor" means any individual or legal entity that is required to make periodic payments to satisfy a debt, as agreed upon in the terms of the financing agreement.
Definition of "Debtor" in the context of debt negotiation
This definition ties "Debtor" to negotiating debt terms.
"Debtor" refers to the party engaged in negotiations with creditors to settle, reduce, or restructure their outstanding debt obligations.
Definition of "Debtor" in the context of debt forgiveness
This definition links "Debtor" to scenarios involving debt forgiveness.
"Debtor" means an individual or entity whose debt may be forgiven or reduced through an agreement with the creditor, usually due to financial hardship or other extenuating circumstances.
Definition of "Debtor" as a defaulter in litigation
This definition applies "Debtor" to a party that is in litigation for defaulting.
"Debtor" refers to the party involved in litigation regarding a debt, where the creditor is seeking legal action to enforce repayment.
Definition of "Debtor" as a defaulter in debt recovery
This definition ties "Debtor" to the role of defaulter in debt recovery situations.
"Debtor" means the party whose debt remains unpaid and is now subject to collection efforts, potentially involving legal or financial intervention.
Definition of "Debtor" as an entity in default of payment
This definition connects "Debtor" to an entity in default of payment.
"Debtor" refers to a business or individual that has failed to meet payment obligations on time and is now in default under the terms of the financial agreement.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.