Definitions

1. noun

The state or condition of owing or being in debt; a situation in which a person or organization owes money or other obligations to another.

“The company’s debtorship was a major concern for investors, as the firm’s financial woes threatened to default on its loans.”

2. noun

A person or organization that owes money or other obligations, especially one that is in a state of financial insolvency or bankruptcy.

“The debtorship of the small business was a result of their poor financial management, which led to a significant amount of debt and eventually bankruptcy.”