oboloo Glossary

Creditor

oboloo Glossary

Creditor

Creditor

A creditor is a person or organization to whom you owe money. When you borrow money from a bank, the bank becomes your creditor. When you charge something on your credit card, the credit card company becomes your creditor. In both cases, you have an obligation to repay the debt, plus any interest and fees that may be charged.