Glossary Of Debt Management & Financial Terms
Creditor
A person, company or organisation who has lent money to a third party (debtor).
A creditor is somebody owed money by a debtor, individual, partnership or company. The creditor is entitled to a claim in the insolvency proceedings. A creditor must support that claim by giving written evidence of the amount due. This may take the form of a proof of debt, creditor's statement or loan agreement.
A creditor is somebody owed money by a debtor, individual, partnership or company. The creditor has usually provided monies, products or services to the debtor awaiting payment at a date after the initial transaction.
See Debtor, Business debt and Credit.
