debtor

/ˈdetər/ noun

Definition

› [C] a person, country, or organization that owes money: The Federal Deposit Insurance Corporation was appointed receiver of the debtor's assets. debtor countries/nations → Compare creditor

debtors [plural] UK (US receivables) › ACCOUNTING, FINANCE the money that is owed to a company and that is shown in its accounts as an asset: When a client is issued with a bill, the amount on the bill should be entered as debtors in the firm's accounts. → Compare creditor

→ See also judgment debtor, sundry debtor

(Definition of debtor noun from the Cambridge Business English Dictionary © Cambridge University Press)