For example, if you take out a car loan from your credit union, you’re the debtor and the credit union is the creditor in this transaction. Sometimes, a debtor refers to someone who files for ...

Recent examples of this include Bon-Ton Stores, Circuit City and Borders. For companies looking to survive, the Bankruptcy Code requires either creditor support or payment in full.

Who was buying was all this debt? The TIC data suggests that private creditors bought roughly twice as much US debt as the world’s central banks -- $59 billion v $26.5 billion.

In Las Vegas-based DAPT lawyer Steve Oshins' DAPT rankings, the states with the highest ranking are the most debtor-friendly. His home state of Nevada, for example, has no exception creditors.