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!
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