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'debtor of' is correct and usable in written English.
You can use it in a sentence to refer to someone who is obliged to repay a debt. For example: "The company was the main debtor of the loan."
Exact(24)
No tolling of any period of limitation is provided with respect to carrybacks by the debtor of post-petition losses.
(i Advance notification to the debtor of the State's intent to collect by Federal tax refund offset.
John Banville's Nov. 19 Op-Ed article about Ireland's bailout, "The Debtor of the Western World," suggests a defeated and depressed nation.
Subsection (b)(2) of this section in effect exempts from the preference rules payments by the debtor of tax liabilities, regardless of their priority status.
(a) Written demand, as described in paragraph (b) of this section, will be made promptly upon a debtor of the United States in terms informing the debtor of the consequences of failing to cooperate with the General Services Administration GSAA) to resolve the debt.
In the French and civil-law systems, the term abandonment is more technical and means the surrender by a debtor of his property to be used in satisfaction of claims by his creditors.
Similar(36)
In 1774 there were just over 4,000 prisoners in Britain, half of them debtors, out of a population of six million.
Imprisonment of debtor David Smith of Coventry for non-payment of debt, signed by Ichabod M. Warner, Justice of the Peace at Bolton, Conn.
On the other hand, non-consensual releases by a non-debtor of other non-debtor third parties are to be granted only in "extraordinary cases". Genesis Health Ventures, 266 B.R. at 608 citing Gillman v. Continental Airlines (In re Continental Airlines), 203 F.3d 212, 212 (3d Cir.2000).
American Legal is one of the nation's largest companies in the business of giving notice to debtors of collections proceedings.
This has reassured investors that weak debtors of other banks will also be supported, helping to raise the price of weak stocks.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com