Glossary - Word DefinitionsHere is a collection of words you may have seen on our website, they are all related to money. This page aims to clearly define them, they aren't actual dictionary definitions but are how we interpret the words.Debt - Something that is owed. Debt is used as a way of gaining purchasing power from the future Debtor - A person who owes debt Creditor - Someone who is owed debt from someone else Bad Debt - Money owed to a person or company which is not recoverable and therefore written off. Bailiffs - Also called Debt Collectors. A person or group of people who come to take property when financial debt can't be repaid. 
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