Glossary

Debtor

A debtor is a physical person or a corporation owing something to another person, called the creditor. In terms of debt collection, the debt is a sum of money. The debtor therefore has an obligation to pay this sum of money, the debt, to their creditor.

 

Updated 15/11/2017

Definitions provided under this section refer to the Belgian situation; unless specified otherwise. The texts are meant to summarize concepts in daily language and should not be considered as comprehensive or definite. We welcome suggestions for modifications or additions at glossary@tcm.be.