A creditor is a party (e.g. person, organization, company, or government) that has a claim to the services of a second party. 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. A party is a person or group of persons that compose a single entity which can be identified as one for the purposes of the law. ... This article or section does not cite any references or sources. ... This article is about a term used in economics. ... A contract is a legally binding exchange of promises or agreement between parties that the law will enforce. ... In economics a debtor (or a borrower) owes money to a creditor. ... In finance, a Borrower is being referred to as the person or company which a person or company has lent financial funds (money) to (the Lender. ...

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. For other uses, see Loan (disambiguation). ... For alternative meanings, see bond (a disambiguation page). ... This article is about the legal mechanism used to secure property in favor of a 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. Credit as a financial term, used in such terms as credit card, refers to the granting of a loan and the creation of debt. ... Trustworthiness is a moral value considered to be a virtue. ...

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'... It has been suggested that Accounting scholarship be merged into this article or section. ...

The financial statements presentation is this: Historical financial statement Financial statements (or financial reports) are formal records of a business financial activities. ...

• Long-term liabilities
  • 'Long-term creditors'
• Current liabilities
  • 'Current creditors'

Long-term liabilities are liabilities with a future benefit over one year, such as notes payable that mature greater than one year. ... In accounting, current liabilities are considered liabilities of the business that are due within the fiscal year. ...

See also

• Accounts payable
• IOU (I Owe You)
• Trade creditors
• Debenture loans
• Bank loan and Overdrafts
• Payments received on account
• bill of exchange payable
• Intra-group accounts owed
• Proposed dividends
• Accruals and deferred income