Q
Is there a difference between a debt and a claim?




A

No, not in a practical sense. They are different terms for an obligation owed by the debtor to a creditor. A claim is the right of a creditor to the payment of an obligation by the debtor. A debt is a liability of a debtor on an obligation to a creditor. For example, if a debtor owes $1000 to the bank, the $1000 obligation is viewed as a debt by the debtor and as a claim by the bank.


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