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A creditor is a party (e.g. person, organization, company, or government) that has a claim to 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 or 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 mortgages. 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 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 classificationIn 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:
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GNU Free Documentation License  pawb.uscourts.gov 369px x 598px | 44.80kB [source page] Click on the Next button to continue STEP 5 The Add Creditor s screen appears See Figure 5 Figure 5  maine.gov 1644px x 1208px | 574.80kB [source page] LD 1060 An Act to Allow Credit Card Users to Purchase Payment Insurance From Yahoo Image Search: "Creditor"  blog.fagstein.com Fagstein Sat, 23 Jan 2010 04:01:54 GM FTI Consulting, one of the groups of lawyers handling Canwest Limited Partnership's . creditor. protection filing, has a section on its website devoted to the proceedings. There you can find, among other things, a list of . creditors. (PDF). ...  tmz.com TMZ Staff ue, 05 Jan 2010 19:29:00 GM Michael Jackson's estate is taking hits from all sides -- and big surprise, the newest . creditor. to enter the ring is a company that claims it's owed money ...  charlesrowley.wordpress.com charlesrowley Sat, 30 Jan 2010 09:34:34 GM One brave . creditor. withstood political pressure and appealed the judgment of the bankruptcy court. The Indiana Police Pension Fund, with a 1 per cent interest in Chrysler's secured debt, challenged the decision. ... From Google Blog Search: "Creditor"  news.google.com BigNews.biz (press release) However, if you are reasonable in your offer then the creditor is likely going to make accommodations. Be upfront and honest about your financial position ... Debt Relief Now Available to All US Consumers Before It's News all 11 news articles » news.google.com Reuters At issue is whether a federal regulation requires notice, even though the contract terms have not changed, when a creditor increases the rate on a credit ... High Court Seeks US Input on Chase Card Case eCreditDaily.com all 26 news articles » news.google.com Atlanta Journal Constitution (blog) Also, notify your creditors in writing of the mix-up. From now on you and your son should be careful to use your full name, including suffix, when filling ... and more » From Google News Search: "Creditor" How long does it take for a creditor to garnish your wages? Q. I had to go to court for a unpaid credit card bill, the creditor got a judgement, but they told me I could set up payments, I told them I needed some more time. Now I got papers that say "order for financial disclosure and financial disclosure statement" After I fill this out and send it back do they automatically garnish wages or do they have to go to court again to do this? Asked by mommyoflilboy - Tue Apr 15 19:43:47 2008 - - 4 Answers - 0 Comments A. They have already won the case and are allowed garnishment of your wages. They need to know your financial obligations and assets to determine what your disposable income is. This would determine the amount they could collect. The amount would be determined by your states laws. Here is a link to find your state garnishment laws Hope this answers your question. legal disclaimer: The advice contained herein is for informational purposes only. It is not to be construed as Legal Counsel nor Legal Advice. Answered by Sgt Big Red - Tue Apr 15 20:41:42 2008 Can a creditor remove an item that appears in credit report before the 7 year period for unpaid bills? Q. I have unpaid bill that will be removed from credit reports on 6/10/2010 should I just wait (to borrow money) or pay bill now. Can I negotiate with creditor? Asked by Paul - Thu Apr 9 19:24:08 2009 - - 3 Answers - 0 Comments A. as soon as you attempt to pay it, or have any activity with that account the 7 years can start all back over. if your that close to having it drop off your report I would just wait. Answered by magnolia_76 - Thu Apr 9 19:28:49 2009 how long after having a judgment against you from a creditor before they start to garnish your wages?
Q. About three months ago my husband was served by a creditor and given a month to send in a written response. We are in a bit of debt and after being served we attained a bankruptcy lawyer who said not to send in a response only problem is he still hasn't filed our bankruptcy with the court yet. So im wondering how long does it take after being served before wages are garnished and do they notify you before they do? Asked by B2B4A - Sun Oct 4 14:25:25 2009 - - 4 Answers - 0 Comments A. I am surprised you BK lawyer would have sent a letter to this creditor with an intent to file chapter XX bankruptcy. Answered by bryan l - Mon Oct 5 00:52:12 2009 From Yahoo Answer Search: "Creditor" |
