Debtor
A party who owes or is alleged to owe money to another.
The term also refers to a person or entity who is in a bankruptcy case. It was adopted into bankruptcy law in 1978 to eliminate the use of the more negative word "bankrupt" to describe someone who has needed relief from debts in such cases.
The term also refers to a person or entity who is in a bankruptcy case. It was adopted into bankruptcy law in 1978 to eliminate the use of the more negative word "bankrupt" to describe someone who has needed relief from debts in such cases.
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