What is the meaning of “debtor”?

In California, a debtor is an individual or business that owes money to someone else. The money owed can be for goods, services, or property that was bought on credit. A creditor is the party to whom money is owed. Debtors have certain rights that are protected by law. In California, creditors have certain rights as well. These rights usually include the ability to take certain legal action to collect on the debt. The rights of debtors and creditors depend on the type of debt, who is the debtor and who is the creditor, and other factors. For example, there may be different rights for consumer debts, business debts, and government debts. Creditors may also have a right to place a lien on the property of the debtor in an effort to collect the debt. A lien is a legal claim on a property or asset, including real estate, vehicles, and personal property. Once the debt is paid in full, the lien is removed and the creditor no longer has any rights to the property. It is important for debtors to understand the rights of their creditors and to ensure that payments are made in a timely manner to avoid legal action.

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What is the meaning of “debtor”?

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