creditor

[ˈkrɛdɪtər]

creditor Definition

a person or company to whom money is owed.

Using creditor: Examples

Take a moment to familiarize yourself with how "creditor" can be used in various situations through the following examples!

• Example

  The company has many creditors who are owed money.

• Example

  He was unable to pay his creditors and had to file for bankruptcy.

• Example

  The bank is one of the largest creditors in the country.

• Example

  The creditor demanded immediate payment of the debt.

creditor Synonyms and Antonyms

Synonyms for creditor

• lender
• loaner
• mortgagee
• banker

Antonyms for creditor

• debtor
• borrower

Phrases with creditor

• secured creditor

  a creditor whose loan is backed by collateral, such as a mortgage or car loan

  Example

  The secured creditor repossessed the car when the borrower failed to make payments.

• unsecured creditor

  a creditor whose loan is not backed by collateral, such as a credit card company

  Example

  The unsecured creditor may have difficulty recovering the debt if the borrower files for bankruptcy.

• preferred creditor

  a creditor who has priority over other creditors in receiving payment from a debtor's assets

  Example

  The preferred creditor will be paid first from the proceeds of the sale of the debtor's assets.

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Summary: creditor in Brief

'Creditor' [ˈkrɛdɪtər] refers to a person or company to whom money is owed. It includes both secured creditors, whose loans are backed by collateral, and unsecured creditors, whose loans are not backed by collateral. 'Creditor' also extends to preferred creditors, who have priority over other creditors in receiving payment from a debtor's assets.