In economics a debtor (or a borrower) owes money to a creditor. In writing ledger accounts a debtor's amount is written on the debit (Dr) side, as the name suggests. Economics (from the Greek οίκος [oikos], house, and νομος [nomos], rule, hence household management) is a social science that studies the production, distribution, trade and consumption of goods and services. ... A creditor is a party (e. ...
Law A debtor that, upon voluntary petition or one invoked by the debtor'screditors, is judged legally insolvent.
A legal proceeding whereby money or property due a debtor but in the possession of another is applied to the payment of the debt owed to the plaintiff....
An authorization to a debtor, such as a bank or nation, permitting temporary suspension of payments....
The bill's harsh treatment of debtor's attorneys, said unhappy practitioners and others, is just part of its primary goal of making Chapter 7 bankruptcies -- in which debtors seek discharge of their debts -- as difficult as possible.
Require the debtor's attorney to certify the accuracy of all factual allegations in the debtor'sbankruptcy petitions and schedules.
A number of debtor and creditor attorneys said that the proposed certification requirements would force them to hire private investigators, appraisers and auditors to verify the value of client assets.
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