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The 3 Kinds of Debtors (and How to Work With Them) Those who've made a mistake and want to resolve it. Those who dispute the debt or want to avoid paying. Those who have a real problem in repaying the debt.
This is an Official Bankruptcy Form. Official Bankruptcy Forms are approved by the Judicial Conference and must be used under Bankruptcy Rule 9009.
Key Takeaways. Debtors are individuals or businesses that owe money, whether to banks or other individuals. Debtors are often called borrowers if the money owed is to a bank or financial institution, however, they are called issuers if the debt is in the form of securities.