what is a creditor


I can’t understand what a creditor is, the theory says that is a person who has a claim of the services in a second party.


If you google just that you get the definition

> a person or company to whom money is owed.

It can be other things then money but that is the most common.

It’s somebody who is owed money. If you owned a fruit stand and got produce from your distributor each week and paid him monthly, he’d be a creditor of your business. If you went out of business and still owed him money, he would have a claim on whatever assets your business could liquidate.