debtor
- 01 B2 Upper Intermediate
a person or business that owes money to another person or a bank.
an entity that owes a financial obligation to a creditor. The term is standard in accounting and legal proceedings.
Simple“The company struggled to pay its staff because a major debtor had not paid their bill.”
In context“The court appointed a receiver to manage the assets of the debtor after they failed to meet the revised repayment schedule.”
UsageCommonly paired with 'creditor' as its functional opposite in financial reporting.
PitfallThe debtor paid his debt to the bank. The debtor paid his debt to the creditor.While a bank is often the lender, in formal writing, the person who is owed money is specifically called the 'creditor'.
“That helps debtors get back on their feet.”
From Middle English dettour, from Old French detour, from Latin debitor, equivalent to debt + -or. Doublet of debitor. Displaced native Old English *sċola.
Etymology adapted from Wiktionary, available under CC BY-SA 4.0.