Bible Dictionary
Debtor
A debtor is a person who owes money or goods to another. Biblical laws regulated pledges, repayment, debt release, and the responsibility of a surety.
Definition
A debtor is a person who owes money or goods to another. Scripture regulates the pledge given to a creditor, the recovery of pledged goods, the Sabbatical release of debts, and the liability of a surety.
Biblical Usage
The debtor was to give as a pledge what could most easily be spared. A millstone or upper garment could not be retained overnight, and debts could not be exacted during the Sabbatical year. A surety was liable in the same way as the original debtor.
Historical Background
These laws governed the practical relationship between creditor and debtor and limited the hardship that could result from taking essential household goods or demanding repayment at prohibited times.
Scripture References
Historical Bible Dictionaries
Easton's Bible Dictionary
Various regulations as to the relation between debtor and creditor are laid down in the Scriptures. (1.) The debtor was to deliver up as a pledge to the creditor what he could most easily dispense with (Deut. 24:10, 11). (2.) A mill, or millstone, or upper garment, when given as a pledge, could not be kept over night (Ex. 22:26, 27). (3.) A debt could not be exacted during the Sabbatic year (Deut. 15:1-15). For other laws bearing on this relation see Lev. 25:14, 32, 39; Matt. 18:25, 34. (4.) A surety was liable in the same way as the original debtor (Prov. 11:15; 17:18).
Smith's Bible Dictionary
[Loan]