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creditor Definition

credi·tor (kred′it ər)

noun

a person who extends credit or to whom money is owed

Etymology: ME creditour < L creditor: see credit

creditor Synonyms

creditor

n.

lender, lessor, mortgager; see banker 1, lender.

creditor Finance Definition
An entity that has a monetary claim against a debtor.
creditor Law Definition

n

One to whom money is owed or who gives credit to another. See also debtor.
account creditor
One to whom the balance of an account is owed. See also debtor.
judgment creditor
One who has the legal right to collect a specific sum because of a judgment entered in his or her favor in a civil action. See also levy, writ, and debtor.
secured creditor
A creditor who has been given or pledged collateral to protect against loss if the debtor fails to fully pay the debt owed.
unsecured creditor
A creditor who is not a secured creditor.
creditor’s bill (or suit) Law Definition

n

A proceeding in equity in which a judgment creditor seeks to discover and have delivered to him property that cannot be reached by the process available at law to enforce a judgment.
creditor Usage Examples

Converse of object

  • defraud: Conventional asset protection is not hiding assets, defrauding creditors or evading income taxes.
  • petition: When the Inland Revenue is not the petitioning creditor, they should be contacted and consulted like any other creditor.
  • requisition: The cost of so doing should be deposited in the estate account once received from the requisitioning creditor.
  • repay: You may not need to repay creditors in full.
  • notify: If he decides not to call meetings, he must notify the creditors, contributories and the court of his decision.
  • bind: If approved, the CVA binds all creditors irrespective of how they voted and allows the directors to retain control of their company.

Adjective modifier

  • unsecured: Many small businesses will be among the unsecured creditors who will benefit.
  • preferential: The Administrator will now be able to distribute funds to secured and preferential creditors.
  • secured: A secured creditor may vote in respect of any unsecured portion of his debt.
  • non-preferential: Furthermore, with consent of the Court, he will be able to pay dividends to non-preferential creditors.
  • his/her: A debtor who is not insolvent may also execute a deed in favor of his/her creditors generally.
  • multilateral: First, some nineteen multilateral creditors hold Third World debts.

Modifies a noun

  • nation: Brazil is one of the few creditor nations that is not a member of the Paris Club.

Noun used with modifier

  • non-priority: Her income is too low to be able to make offers of repayment to her non-priority creditors.
  • judgment: To the extent so charged, the judgment creditor has only the rights of an assignee of the member's interest.

Possessives

  • liquidation: It was proposed that 2 of the companies should go into creditors ' voluntary liquidation and the third be dissolved.
  • committee: The administrator's remuneration is fixed, in the first instance, by the creditors ' committee.

Possessives

  • debtor: A copy of this report and accounts should be sent to the debtor and all the debtor's creditors of whom he/she is aware.

Preposition: in

  • bankruptcy: It is only fair that the proposal should contain some provision to achieve something for the creditors in the earlier bankruptcy.

Preposition: of

  • debtor: The rights of secured creditors of the debtor, and of preferential creditors, cannot be affected without the agreement of the creditors concerned.