- An individual or firm to whom or which money or its equivalent is owed.
opposite of debtor, collector, receiver
Related Terms and Acronyms
- Debtor — Definition,
- Anyone who owes money to a creditor.
- A person who has filed a petition for relief under the bankruptcy laws.
- Distress — Definition,
- The right of one party to sell real or personal property belonging to another party to pay unpaid or overdue debt.
- Garnishment — Definition,
- An amount withheld from your pay and remitted to another party, such as a creditor. You must include in your taxable income any amount that was garnished from your pay, because the full amount of your pay is considered to have been received by you even though some was withheld to pay your debts.
- Protected Cell Company (SPC) — Acronym,
- A company that separates its assets and liabilities into a number of 'cells' to shield itself and each 'cell' from losses.