Jan 29, 2025 · 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.

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]

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.

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 meaning: 1. someone who money is owed to: 2. someone who money is owed to: 3. a country, organization, or…. Learn more.

a person or firm to whom money is due ( debtor ). a person or firm that gives credit in business transactions. Bookkeeping. credit ( def 11b, 11c ). 1400–50; late Middle English creditour < …

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.

Apr 19, 2024 · Creditors are people or companies that lend money or extend credit to borrowers (consumers and businesses). Any financial lender is considered a creditor. Some of the...

Nov 10, 2018 · 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.

Jun 19, 2024 · What is a creditor? The term creditor can mean different things depending on the situation, but it typically means a financial institution or person who is owed money. If you’re the person who owes the money to a creditor, you may be referred to as a debtor or borrower.