Who is my creditor?

A creditor is someone who loans or is owed money. Creditors include banks and credit card companies.

Hi!  Thanks for writing!  This is a good question, and you are right in your answer.  A creditor is any person or entity you owe money to. It can be a bank if you have a personal loan, a credit card company if you have a balance there, the federal government if you have a Stafford college loan, a regular person who’s loaned you money, a payday lender, or an auto manufacturer on a car loan. I know that’s a long and somewhat depressing list, since many of us owe ALL of those entities/people! But the reality of our world is that most of us need to borrow money sometimes to build a better future life. Best wishes to you!