A debtor is an individual or entity that owes money to another party, known as a creditor. This obligation can arise from various situations, such as loans, credit purchases, or other financial agreements. Debtors are responsible for repaying the borrowed amount, often with interest, according to the terms set in the agreement. In many cases, debtors may seek assistance from financial advisors or organizations to manage their debts effectively. If a debtor fails to meet their repayment obligations, they may face legal consequences, including bankruptcy, which can significantly impact their financial future and creditworthiness.