By IncNow | Published October 19, 2013

A person or company to which a financial obligation is owed by a debtor. Creditors can be secured or unsecured by particular collateral. Creditors can take different priorities, and can include groups as diverse as a business’ employees, owners, vendors, lenders, third-party victims of accidents (tort creditors), customers, people who have one judgments in court (judgment creditors).

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