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Banking Term: Debtor

May 18, 2015 14:40 IST

    Banking Term: Debtor

    • Debtor is considered as entity that owes a debt to other entity.
    • If the debt is in the form of a loan from a financial institution, the debtor is referred to as a borrower.
    • If the debt is in the form of securities, such as bonds, the debtor is referred to as an issuer.
    • The most oral and written agreements for the repayment of consumer debt - debts for personal, family or household purposes secured primarily by a person's residence - are enforceable.

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