Legal Definitions - joint debtor

A joint debtor is a person who is responsible for paying the same debt as one or more other people. For example, if two people take out a loan together, they are joint debtors.

Other types of debtors include:

• Absent debtor: A debtor who is not in the same area as their creditors.
• Absconding debtor: A debtor who runs away to avoid paying their debt.
• Account debtor: A person who owes money on an account or other type of financial obligation.
• Concealed debtor: A debtor who tries to hide from their creditors.
• Judgment debtor: A debtor who has been ordered by a court to pay a debt.
• New debtor: A person who becomes responsible for a debt that was previously owed by someone else.
• Solvent debtor: A debtor who has enough assets to pay off all of their debts.

Understanding the different types of debtors can be important in legal and financial situations. For example, if a creditor is trying to collect a debt, they may need to know if there are any joint debtors who can also be held responsible for the debt.