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.