Pronunciation: [dˈɛtə] (IPA) 
The word "debtor" is spelled with the letters d-e-b-t-o-r. In IPA phonetic transcription, it is pronounced as "ˈdɛtər". The first syllable is pronounced with a short "e" sound, followed by a "t" sound. The second syllable is pronounced with a neutral schwa sound. The word "debtor" refers to an individual or organization that owes money or is in debt to another party. It is commonly used in finance and accounting contexts.
A debtor is an individual, business, or entity that owes money to another party known as a creditor. In the realm of financial transactions, a debtor typically refers to someone who has incurred debt by borrowing funds, taking out loans, or purchasing goods and services on credit. By doing so, the debtor enters into a legal obligation to repay the borrowed amount, along with any agreed-upon interest or fees, within a specific timeframe specified in a contract or agreement.
Debtors are common in various financial scenarios, such as personal loans, mortgage agreements, credit card usage, and business borrowings. They are expected to make regular payments towards the outstanding debt to satisfy their monetary obligations. Failure to meet these repayment terms can result in penalties, interest accrual, damaged credit ratings, or legal actions initiated by the creditor to recover the owed amount.
The relationship between a debtor and a creditor is governed by contractual terms, often outlined in agreements or promissory notes. These documents establish the conditions of the debt, including the repayment schedule, interest rates, and consequences for default. Debts can be secured by collateral, requiring the debtor to provide an asset that may be seized by the creditor if the debt is not repaid. Unsecured debts, on the other hand, do not rely on collateral and usually offer lower borrowing limits.
The person who owes another money, goods, or services; the side of an account in which debts are marked.
Etymological and pronouncing dictionary of the English language. By Stormonth, James, Phelp, P. H. Published 1874.
* The statistics data for these misspellings percentages are collected from over 15,411,110 spell check sessions on www.spellchecker.net from Jan 2010 - Jun 2012.
The word debtor comes from the Latin word debitor, which is derived from the Latin verb debere, meaning to owe. In Latin, debitor referred to someone who owed a debt to another person. The term was later adopted into Old French as detor, and eventually arrived in Middle English as detter or detbour, before evolving into the modern English word debtor.
