Define: Creditor

UK Accounting Glossary

Definition: Creditor


Quick Summary of Creditor


A person or organisation to whom money is owed by the entity.



What is the dictionary definition of Creditor?

Dictionary Definition


  1. finance A person to whom a debt is owed.
  2. One who gives credence to something; a believer.

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Examples of Creditor in a sentence


The creditor always has a better memory than the debtor.
Generally, debtors must negotiate with each creditor separately, and they usually face the ordeal without prior advice.
A creditor of a partnership may sue any partner for the full amount of the debt.
Given the circumstances we are understandably reluctant to raise this matter with the creditor organisations.
The company is in trouble; If they don’t find a willing creditor, they will go bankrupt.
If one has to pay a creditor £200 in one year’s time, its not necessary to have £200 today.
As a creditor, my landlord is entitled to evict me if I don’t keep up with my rent.
By lending money to a customer, a bank becomes a creditor.
If Paul doesn’t keep up to date with payments due to his creditor, he may lose his house.
Although John was no longer able pay his creditor, he was at least somewhat relieved that the creditors could not repossess his house as his debt was unsecured.



Cite Term


To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
https://payrollheaven.com/define/creditor/
Modern Language Association (MLA):
Creditor. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. December 11, 2019 https://payrollheaven.com/define/creditor/.
Chicago Manual of Style (CMS):
Creditor. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/creditor/ (accessed: December 11, 2019).
American Psychological Association (APA):
Creditor. PayrollHeaven.com. Retrieved December 11, 2019, from PayrollHeaven.com website: https://payrollheaven.com/define/creditor/

Definition Sources


Definitions for Creditor are sourced/syndicated from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • BusinessDictionary.com
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 23rd December 2018.