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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 - 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 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
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 | 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
What is a creditor? - Credit Karma 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 - 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 Other compound and descriptive terms Find the legal definition of CREDITOR from Black's Law Dictionary, 2nd Edition