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What Is a Creditor, and What Happens If Creditors Arent Repaid? A creditor is an individual or institution that extends credit to another party to borrow money usually by a loan agreement or contract Creditors are commonly classified as personal or real
CREDITOR Definition Meaning - Merriam-Webster The meaning of CREDITOR is one to whom a debt is owed; especially : a person to whom money or goods are due How to use creditor in a sentence
What Is a Creditor and What Is an Example of a Creditor? | Intuit . . . The term creditor typically refers to a financial institution or person who is owed money, though its exact definition can change depending on the situation For example, if you have an outstanding balance on a loan, then you have a creditor
Creditor - Wikipedia A creditor or lender is a party (e g , person, organization, company, or government) that has a claim on the services of a second party It is a person or institution to whom money is owed [1]
creditor | Wex | US Law | LII Legal Information Institute A creditor is someone (or an entity ) to whom an obligation is owed Most commonly, the obligation owed is an obligation to pay money for some prior services or to pay off a loan The person who owes a creditor an obligation is known as a debtor
Difference Between Debtors and Creditors (with examples) Creditors – In day-to-day business, a person or a legal body to whom money is owed is known as a creditor For a business, the amount to be paid may arise due to repayment of a loan, goods purchased on credit, etc
CREDITOR - The Law Dictionary A creditor is called a “ simple contract creditor,” a “specialty creditor,” a “ bond creditor,” or otherwise, according to the nature of the obligation giving rise to the debt