Velallinen

Velallinen is a Finnish term used to describe a person or entity that owes money or another obligation to another party. The primary meaning is debtor, and the word is commonly found in financial, contractual, and legal contexts to designate the party that has an unsettled obligation to pay or perform.

In practice, a velallinen is the party responsible for fulfilling a debt or other obligation under a contract or agreement. The opposite party is typically the creditor, who holds the claim. The plural form velalliset refers to multiple debtors, while velallisuus denotes indebtedness or the state of owing.

The term is neutral and widely used across formal and informal Finnish. It can describe individuals as well as corporate or institutional debtors. Related concepts frequently found in related texts include velkasaatava (a debt claim or receivable), velkajärjestely (debt restructuring), and perintä (debt collection). The word can appear in various phrasing, from lending agreements to court documents, to specify the debtor’s role in a financial arrangement or legal obligation.

Etymology: Velallinen is formed from velka, meaning debt, with the suffix -linen, a common Finnish pattern for creating a noun that denotes a person connected with a concept, yielding “the one related to debt.”

See also: velka, velkasaatava, velkajärjestely, perintä, konkurssi (bankruptcy).