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creditor

 - 6 dictionary results

cred⋅i⋅tor

  [kred-i-ter]
Use creditor in a Sentence
–noun
1. a person or firm to whom money is due (opposed to debtor ).
2. a person or firm that gives credit in business transactions.
3. Bookkeeping. credit (def. 12b, c).
Origin:
1400–50; late ME creditour < L crēditor, equiv. to crēdi- var. s. of crēdere to believe, entrust (see credit ) + -tor -tor

Related forms:
cred⋅i⋅tor⋅ship, noun
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2009.
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cred·i·tor   (krěd'ĭ-tər)   
n.  One to whom money or its equivalent is owed.
The American Heritage® Dictionary of the English Language, Fourth Edition
Copyright © 2009 by Houghton Mifflin Company.
Published by Houghton Mifflin Company. All rights reserved.
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Cultural Dictionary

creditor

One to whom a debt is owed.

The American Heritage® New Dictionary of Cultural Literacy, Third Edition
Copyright © 2005 by Houghton Mifflin Company.
Published by Houghton Mifflin Company. All rights reserved.
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Financial Dictionary

Creditor

A person (or institution) who extends credit by giving permission to borrow money if he or she promises to pay it back at a later date. Creditors can be classified into either personal or real. Those who have lent 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 Commentary

When creditors are notified of bankruptcy proceedings, there are 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. Take the debtor to court and challenge a debtor's discharge (the right not to pay back) due to bankruptcy protection.

Related Links

The Importance of Your Credit Rating
What Is A Corporate Credit Rating?
An Overview Of Corporate Bankruptcy

See also: Bank, Bankruptcy, Chapter 11, Chapter 7, Credit, Discharge in Bankruptcy, Loan, Mortgage, Unsecured Creditor, Writ of Seizure and Sale

Investopedia.com. Copyright © 1999-2005 - All rights reserved. Owned and Operated by Investopedia Inc.
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Financial Dictionary

creditor

One to whom funds are owed. Holders of bonds and debentures are creditors to whom funds are owed by the issuers. Compare debtor. See also secured creditor, unsecured creditor.

Wall Street Words: An A to Z Guide to Investment Terms by David L. Scott.
Copyright © 2003. Published by Houghton Mifflin.
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Legal Dictionary

Main Entry: cred·i·tor
Pronunciation: 'kre-d&-t&r, -"tor
Function: noun
: a person to whom a debt is owed; especially : a person to whom money or goods are due —compare DEBTOR, OBLIGOR
general creditor
: a creditor who is not secured by a lien or other security interest called also unsecured creditor
judgment creditor
: a creditor who has a money judgment entered against the debtor and may enforce the judgment (as by attachment or writ of execution)
known creditor
: a creditor whose potential claim is known or should be known by a debtor and who is entitled to notice of a corporate dissolution or of a date at which claims will be barred (as in bankruptcy)
lien creditor
: a creditor who is secured by a lien (as by attachment)
secured creditor
: a creditor who has a security interest (as a mortgage)
unsecured creditor
: GENERAL CREDITOR in this entry
Merriam-Webster's Dictionary of Law, © 1996 Merriam-Webster, Inc.
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