Creditor

A creditor is a physical person or corporation possessing a debt claim on another person, called the debtor. In other words, it is the person who is owed a debt.

A distinction must also be made between a preferred creditor and an unsecured creditor.

Updated 20/11/2017

Definitions provided under this section refer to the Belgian situation; unless specified otherwise. The texts are meant to summarize concepts in daily language and should not be considered as comprehensive or definite. We welcome suggestions for modifications or additions at glossary@tcm.be.