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Creditors
A creditor is a party (e.g. person, organization, company, or government) that has a claim to the services of a second party. The first party, in general, has provided some property or service to the second party under the assumption (usually enforced by contract) that the second party will return an equivalent property or service. The second party is frequently called a debtor or borrower.
The term creditor is frequently used in the financial world, especially in reference to short term loans, long term bonds, and mortgages. In law, a person who has a money judgment entered in their favor by a court is called a judgement creditor.
The term creditor derives from the notion of credit. In modern America, credit refers to a rating which indicates the likelihood a borrower will pay back his or her loan. In earlier times, credit also referred to reputation or trustworthiness.
Creditors: Fear Not?
Just as public ire at the mortgage industry reaches a pinnacle, courts have offered the mortgage companies refuge from their mistreatment of consumers in some recent rulings...
Creditors Should Suffer Too:
Tyler Cowen in today's NYT:...
Courts as Creditors
I teach my students that the days of the debtor's prison and the workhouse are long past; the only debt you can go to prison for are domestic support obligations...
?Empty Creditors?
This is a term to describe a certain type of creditor which is better off when its debtor files chapter 11 than if it agreed to an out of court workout proposal...
What is the ?Meeting of Creditors??
The phrase “Meeting of Creditors” strikes fear into most of my clients’ hearts. They hear these words and get a mental image of sitting in a large, darkened room with a spotlight in their face and their creditors in hooded robes surrounding them...
You Mean I Can Actually Sue My Creditors In Bankruptcy?
In a word, yes! A debtor in a bankruptcy case can file a lawsuit within the bankruptcy case for any number of reasons. The lawsuit is called an adversary proceeding...
Is a surviving spouse (wife) responsible for the credit card debt that was in their deceased spourse's (husband's) name?
when my father died my mother sent a letter and a copy of a death certificate ( ...
Can someone who has gotten your personal information during a lawsuit use it to contact creditors?
From what I know that is 100% illegal for them to do. You may be able to counter...
Can a creditor whose collectable was discharged by bankruptcy ask for payment if I resume doing business with them after my bankruptcy filing?
he must be crazy to ask that...
What if you stop receiving monthly statements on your student loan?
It is usual for student loan contracts to state that regular statements will be ...
How can companies hold you liable for bills in your name if you didn't use their service? When my mother died and the account needed to be taken out of her name as fudicary, I put the gas bill in my name. The gas company
Do not pay under any circumstances. At death 100% of all debt is void. Their are...
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Is a surviving spouse (wife) responsible for the credit card debt that was in their deceased spourse's (husband's) name?
when my father died my mother sent a letter and a copy of a death certificate ( ...
Can someone who has gotten your personal information during a lawsuit use it to contact creditors?
From what I know that is 100% illegal for them to do. You may be able to counter...
Can a creditor whose collectable was discharged by bankruptcy ask for payment if I resume doing business with them after my bankruptcy filing?
he must be crazy to ask that...
What if you stop receiving monthly statements on your student loan?
It is usual for student loan contracts to state that regular statements will be ...
How can companies hold you liable for bills in your name if you didn't use their service? When my mother died and the account needed to be taken out of her name as fudicary, I put the gas bill in my name. The gas company
Do not pay under any circumstances. At death 100% of all debt is void. Their are...
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