Creditor

Filed Under » , , ,
Dictionary Says

Definition of 'Creditor'

An entity (person or institution) that extends credit by giving another entity permission to borrow money if it is paid back at a later date. Creditors can be classified as either "personal" or "real". Those people who loan money to friends or family are personal creditors. Real creditors (i.e. a bank or finance company) have legal contracts with the borrower granting the lender the right to claim any of the debtor's real assets (e.g. real estate or car) if he or she fails to pay back the loan.
Investopedia Says

Investopedia explains 'Creditor'

When creditors are notified of bankruptcy proceedings, they have a couple of options with respect to their claim against the debtor:  

1. They can share in any distribution from the bankruptcy estate according to the priority of their claim. Most unsecured, non-wage claims come low on the priority list.  

2. They can take the debtor to court and challenge a debtor's discharge (the right not to pay back) due to bankruptcy protection.
Search results for

'Creditor'

  • Can a creditor seize my retirement savings?

    http://www.investopedia.com/ask/answers/07/seizing-savings.asp
    Whether a creditor can seize your retirement savings will depend on the type of
    account in which you are holding your retirement savings and the. ...

  • Negotiating A Debt Settlement

    http://www.investopedia.com/articles/pf/08/debt-settlement-collection-agency-negotiation.asp
    ... Even if you owe a lot, a creditor will almost always settle for something
    over nothing when it comes to payment of outstanding debt. ...

  • How To Get Rid Of Your Ex-Spouse's Debts - Investopedia.com

    http://financialedge.investopedia.com/financial-edge/1211/How-To-Get-Rid-Of-Your-Ex-Spouses-Debts.aspx
    ... So if you co-signed a loan for your ex-spouse's new Cadillac, or shared a credit
    card, tough luck – the creditor will go after you if those debts go unpaid. ...

  • Fighting Back Against Collection Lawsuits

    http://www.investopedia.com/articles/pf/09/fighting-collection-lawsuits.asp
    ... A collection lawsuit occurs when a creditor files a petition with the court
    to begin a lawsuit against a consumer who owes them money. ...

  • Protect Your Personal Assets

    http://www.investopedia.com/articles/pf/08/family-limited-partnership.asp
    ... Generally, your neighbor/creditor cannot seize partnership assets to satisfy the
    judgment against you, nor can a judgment creditor reach into the partnership ...

  • 7 Tips For The Do-It-Yourself Debt Manager

    http://www.investopedia.com/articles/pf/08/debt-management.asp
    ... The idea behind do-it-yourself debt negotiations is to reduce or minimize the payments
    you make to a creditor who you are likely already in arrears with. ...

  • 7 Tips For The Do-It-Yourself Debt Manager Slideshow ...

    http://www.investopedia.com/slide-show/diy-debt-management
    ... But at some point be prepared to see a lawyer get involved who is
    representing the creditor. ... 7. Discover Your Creditor's Limits. ...

  • 7 Tips For The Do-It-Yourself Debt Manager Slideshow ...

    http://www.investopedia.com/slide-show/diy-debt-management/pay-upfront.aspx
    ... But at some point be prepared to see a lawyer get involved who is
    representing the creditor. ... 7. Discover Your Creditor's Limits. ...

  • 7 Tips For The Do-It-Yourself Debt Manager Slideshow ...

    http://www.investopedia.com/slide-show/diy-debt-management/attorney.aspx
    ... But at some point be prepared to see a lawyer get involved who is
    representing the creditor. ... 7. Discover Your Creditor's Limits. ...

  • Equity Stripping Leaves Creditors Empty-Handed

    http://www.investopedia.com/articles/mortgages-real-estate/09/equity-stripping-assets.asp
    ... proceedings. The idea is simple: keep control and enjoyment of a property
    but leave little or no equity for a creditor to get. (For ...

Related Articles

Partner Links