What Is A Creditor?

A creditor is any person or organization to which the debtor owes money that has a finance charge added to the unpaid balance, or is scheduled to be repaid in installment payments. Creditors have different rights in collecting unpaid debts depending on whether the debt owed is secured or unsecured.

The information on this page is meant to provide a general overview of the law. The laws in your state and/or city may deviate significantly from those described here. If you have specific questions related to your situation you should speak with a local attorney.

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