A creditor is a party (e.g. person, organization, company, or government) that has a claim on the services of a second party. It is a person or institution to whom money is owed. The first party, in general, has provided some property or service to the second party under the assumption (usually enforced by contract) that the second party will return an equivalent property and service. The second party is frequently called a debtor or borrower. The first party is the creditor, which is the lender of property, service or money.
The term creditor is frequently used in the financial world, especially in reference to short term loans, long term bonds, and mortgage loans. In law, a person who has a money judgment entered in their favor by a court is called a judgement creditor.
The term creditor derives from the notion of credit. In modern America, credit also refers to a rating which indicates the likelihood a borrower will pay back his or her loan. In earlier times, credit also referred to reputation or trustworthiness.
Accounting classification 
In accounting presentation, creditors are to be broken down into 'amounts falling due within one year' or 'amounts falling due after more than one year'...
The financial statements presentation is this:
Creditors Power During Insolvency 
In the UK, once an IVA has been applied for and is in place through the courts, creditors are prevented from making direct contact under the terms of the IVA. All ongoing correspondence of an IVA must first go through the Insolvency Practitioner. The Insolvency Practitioner will contact you. The creditors will begin to deal with the Insolvency Practitioner and readily accept annual reports when submitted.
See also 
- Accounts payable
- Accruals and deferred income
- Bank loan and Overdrafts
- Bill of exchange payable
- Creditor's rights
- Debenture loans
- Individual Voluntary Arrangement
- Intra-group accounts owed
- IOU (I Owe You)
- Payments received on account
- Proposed dividends
- Trade creditors
|This finance-related article is a stub. You can help Wikipedia by expanding it.|