Creditor
Debt, arrears & collectionsA person or organisation that is owed money.
Overview
Creditors can be banks, lenders, utility companies, or anyone you owe.
They may report accounts to credit agencies.
Why it matters
- Your relationship with creditors affects your credit profile.
- Missed payments can lead to collections or defaults.
- Clear communication can prevent escalation.
FAQs
Are utility companies creditors?
Yes. If you owe them money, they are a creditor.
Can a creditor report me to credit agencies?
Many creditors can, depending on the account type and policy.
Related terms
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