Creditor >> Back to glossary
As soon as you start looking into your finances the term creditor is going to be something that you become most familiar with. The moment you owe money to someone whether it be family friend or a financial institution, they become officially known as a creditor. This is a term that you need to fully understand. It is the most common term used to define the lender in the contracts that you will need to sign when borrowing money. Of course it is most important that you take the time to read any contract you are entering into. Without understanding what a creditor is it's easy to get mixed up with the terms and not fully understand what you are agreeing to.
If for some reason you are not able to repay your debt and legal action is going to be taken against you, then must of the legal documentation will refer to the person or organization that you owe money to as the creditor.
Once you have filled in our no obligation form here at debtcafe.com and have a consultation with our expert financial team they will discuss your situation with your creditors in great detail. It is important for them to understand who your creditors are and what your present commitment to them is in order for them to find you the best debt solution.
