Creditor - Definition - Law Dictionary Home Dictionary Definition creditor

creditor

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: a person to whom a debt is owed
;esp
: 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