Creditor (Noun)
Meaning
A person to whom money is owed by a debtor; someone to whom an obligation exists.
Classification
Nouns denoting people.
Examples
- The company was forced to file for bankruptcy due to its inability to pay its creditor, a bank with a large outstanding loan.
- As a creditor, the supplier had the right to repossess the goods if the buyer failed to make timely payments.
- After her business venture failed, she found herself with many creditors demanding payment for their services.
- The court ruled in favor of the creditor, declaring that the company was responsible for paying back the full amount of the loan with interest.
- As the primary creditor of the bankrupt company, the insurance company was entitled to a significant portion of the assets to recover its investment.