Glossary of terms: debtor, creditor

Glossary of terms: debtor, creditor

Glossary of terms: debtor, creditor

 

A creditor is literally a person who has the right to lend money or receive money to a third party.

They are called creditors. In other words, it is the person who will receive money by lending money.

 

A debtor is a person who has a financial debt and is responsible for repaying it. A person who borrows money and has to pay it back.

 

Creditors and debtors are simply regarded as creditors and all those who are obligated to pay them as debtors.