debtor n: a person who owes a debt see also bankrupt compare creditor , obligee , obligor NOTE: The Bankruptcy Act of 1978 calls the person concerned in a bankruptcy case the “debtor” as opposed to the “bankrupt.”
Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.
Related Terms from the Bankruptcy and Debt Law Glossary