Real Estate Glossary

What is Creditor?

A creditor is a person or entity to whom money is owed. Creditors can be banks, credit card companies, or other financial institutions, and they may extend credit to borrowers in the form of loans, credit cards, or other types of financing. Creditors have a legal right to be repaid for the money they have lent, and they may take legal action to recover their debts if necessary.