oboloo Glossary

Debtor

oboloo Glossary

Debtor

Debtor

Debtors are individuals or businesses that owe money to another party. The debt may be in the form of a loan, credit card balance, or invoice. In most cases, the debtor will have a legal obligation to repay the debt. If the debtor is unable to repay the debt, they may be subject to legal action by the creditor.

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