Editing Debtor (section)

==Types of debtors==
According to numbers released on March 31, 2013 by the U.S. Federal Reserve Board, [[household debt]] has passed the $11 trillion mark in the United States. [[Student loan debt]] will also soon {{when|date=July 2024}} pass the trillion-dollar mark.<ref name="Budgeting and Debt – Types of Debt">{{cite web|url=http://www.investopedia.com/walkthrough/financial-advisor-client-guide/budgeting-and-dealing-debt/budgeting-and-debt/types-debt/ |title=Budgeting and Debt – Types of Debt |publisher=Investopedia |access-date=2014-08-24 |url-status=dead |archive-url=https://web.archive.org/web/20140813162528/http://www.investopedia.com/walkthrough/financial-advisor-client-guide/budgeting-and-dealing-debt/budgeting-and-debt/types-debt/ |archive-date=2014-08-13 }}</ref>

There are many different types of debts which can cause the debtor and creditor relationship to arise.<ref name="Types of Debt">{{cite web|url=http://www.stepchange.org/Debtinformationandadvice/Typesofdebt.aspx|title=Types of Debt|publisher=Stepchange|access-date=2014-09-04}}</ref> Some of these areas include:
*Bank account debt
*Trade debtors (most commonly used in [[accounting]] terms)
*Car loan debt
*[[Credit card debt]]
*Council tax debt
*[[Gambling]] debt
*Legal court debt
*[[Loan shark]] debt
*Overdraft debt
*Parking fines
*Payday loan debt
*Personal loan debt
*Phone debt
*Utility bill debts

Being a debtor is not restricted to an individual, as in business there is also company debt. Many companies heavily invest in accountancy and rely on [[insolvency]] solutions to prevent debt from being left aside.