What Is a Creditor? A creditor is an individual or institution that extends credit to another party to borrow money usually by a loan agreement or contract.
A creditor is the party owed a financial obligation, whether that party is a bank holding your mortgage, a supplier waiting on an invoice, or a friend who lent you money. The obligation usually comes from extending credit or providing goods and services before payment.
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.
creditor | Wex | US Law | LII / Legal Information Institute
When you take out a loan, whether it’s a line of credit, a mortgage, a student loan or any other example, the institution or person you borrow from is known as a creditor. The individual or company who takes out the loan is known as a borrower, or debtor.
A creditor is any person or organization that lends money or extends credit, expecting to be repaid with interest and fees. Creditors can include banks, credit card companies, hospitals and even...
The company said it would pay in full all its creditors. A provisional liquidator can either restructure or liquidate assets and distribute proceeds to creditors. A creditor is an organization or person who people owe money to. Collins COBUILD Key Words for Accounting. Copyright © HarperCollins Publishers
CREDITOR definition: a person or firm to whom money is due (opposed to debtor). See examples of creditor used in a sentence.