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Debtor

By IncNow | Published October 19, 2013

A person or company that owes a financial obligation to one or more creditors. Often this is to repay money or to pay for breaches of an obligation. A judgment debtor is one who a court has ruled in favor of, who has a judgment lien on debtors’ assets. A debtor may also voluntarily secure the debt to a creditor by pledging collateral in the form of tangible or intangible property.

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