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Creditor

A creditor is an entity or company or person of a legal status nature that has provided goods, services or a loan and has not been paid by you.

In simple terms, if you have bought a product or services from another business or individual and have agreed payment terms this outstanding debt to the supplier is classed as a credito.

However, a creditor can also be a loan transaction either from a bank or a 3rd party creditor.

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