Consumer Debtor Definition: A term of bankruptcy law designating debtors who have debts under a prescribed amount. In Canada, the Bankruptcy and Insolvency Act defines a consumer debtor as: ".... an individual who is bankrupt or insolvent and whose aggregate debts, excluding any debts secured by the individual’s principal residence, are not more than $250,000 or any other prescribed amount." Compare with other bankruptcy law terms, consumer debt and consumer proposal. REFERENCES: Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3Duhaime, Lloyd, Bankruptcy Law Duhaime, Lloyd, Duhaime's Legal Dictionary Duhaime, Lloyd, Duhaime's Legal Citations & Abbreviations Categories & Topics: Bankruptcy Law Dictionary Consumer Law Dictionary Find you are constantly looking up definitions? Try our search provider (works in most modern browsers) If you find an error or omission in Duhaime's Legal Dictionary, or if you have legal term suggestion, we'd love to hear from you!