# Setoff

**IRI:** https://folio.openlegalstandard.org/RBLVY0zljWHvn7aUS7BnomS

## Labels

**Alternative Labels:**

- Bankruptcy

**Translations:**

- en-gb: Setoff
- es-es: Compensación
- es-mx: Compensación
- he-il: סטאף
- hi-in: सेटऑफ

## Definition

A setoff in bankruptcy refers to the right of a creditor to offset a debt owed to them by the debtor against a debt owed by the creditor to the debtor, thereby reducing the amount owed by the creditor to the debtor.

## Sub Class Of

- https://folio.openlegalstandard.org/RBJKfGRN6PPuMeHLwrDvGNx

**Deprecated:** False