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A creditor is a party (e.g. person, organization, company, or government) that has a claim to the services of a second party. It is a person or institution to whom money is owed. 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 first party is the creditor, which is the lender of property, service or money. The term creditor is frequently used in the financial world, especially in reference to short term loans, long term bonds, and mortgage loans. 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. From Wikipedia under the
GNU Free Documentation License  nywb.uscourts.gov 419px x 693px | 75.40kB [source page] The cm ecf main menu screen is pictured below Access to the various modules are provided by the blue Main Menu Bar at the top of the screen Each selection is a hyperlink to another set of options or hyperlinks allowing participants to From Yahoo Image Search: "Creditor"  bills.com unknown Sun, 22 Aug 2010 17:49:27 GM A collection agent or law firm that owns a collection account is a . creditor. . A . creditor. has several legal means of collecting a debt. But before the . creditor. can start, the . creditor. must go to court to receive a judgment. ... From Google Blog Search: "Creditor"  winnipegfreepress.com Tue, 24 Aug 2010 18:58:42 GMT+00:00 motion to delay sale of White Birch Paper Winnipeg Free Press montreal - A Quebec judge has delayed the auction of White Birch Paper after complaints from a dissatisfied creditor of the insolvent newsprint company. ...  reuters.com Thu, 12 Aug 2010 18:11:28 GMT+00:00 Reuters Innkeepers filed for protection from creditors under a pre-negotiated deal with Lehman Brothers' subsidiary Lehman ALI Inc. in July. Lehman, a creditor in ... Appaloosa Objects to Lehman Finance Plan for Hotel BusinessWeek reuters.com Mon, 09 Aug 2010 21:49:46 GMT+00:00 Reuters In Mexico, the airline requested creditor protection under the local insolvency law, or concurso mercantil, but has yet to be declared bankrupt by a judge. ... Mexicana Resumes Online, Agency Ticket Sales Wall Street Journal Union Official: Mexicana Airlines Talking With Three Possible Buyers CheapOair (blog) Mexicana Drops More Flights Wall Street Journal ATWOnline - Wall Street Journal - Reuters From Google News Search: "Creditor" How long a creditor has to wait before sending a debt to a collection agency? Q. I live in Virginia,and the the creditor is Embarq (home telephone service, previously Sprint) Asked by adam - Sat Oct 20 06:09:23 2007 - - 3 Answers - 0 Comments A. There is no limit. It can be turn to collection the very same day you miss your payment. Medical bills, for example, go to collection right away (it does not mean it will be reflected in your credit reports). Some companies (Verizon, Sprint) wait for 90 days. The industry standard (not a rule or a law) is 180 days. The reason for that is how FCRA defines a length of time during which negative information can be reported on your reports (7 years + 180 days after an event that resulted in collection activity [last payment, for example] - FCRA 605(c)(1)). Answered by Dr. Shakar - Sat Oct 20 12:52:04 2007 How long does it take for a creditor to garnish your wages? Q. I had to go to court for a unpaid credit card bill, the creditor got a judgement, but they told me I could set up payments, I told them I needed some more time. Now I got papers that say "order for financial disclosure and financial disclosure statement" After I fill this out and send it back do they automatically garnish wages or do they have to go to court again to do this? Asked by mommyoflilboy - Tue Apr 15 19:43:47 2008 - - 4 Answers - 0 Comments A. They have already won the case and are allowed garnishment of your wages. They need to know your financial obligations and assets to determine what your disposable income is. This would determine the amount they could collect. The amount would be determined by your states laws. Here is a link to find your state garnishment laws Hope this answers your question. legal disclaimer: The advice contained herein is for informational purposes only. It is not to be construed as Legal Counsel nor Legal Advice. Answered by Sgt Big Red - Tue Apr 15 20:41:42 2008 Can a collection agency still pursue even after the original creditor removed the trade line?
Q. I disputed an item on my credit report with the original creditor. They've agreed to remove it from my credit report. Can the collection agency legally still try to collect even though the original creditor recognized the error and removed it from my credit? Asked by Lp - Fri Aug 28 22:06:39 2009 - - 1 Answers - 0 Comments A. They can try, but you have no obligation to pay. You can request that they verify the debt which should put an end to it. Answered by VATreasures - Tue Sep 1 10:54:59 2009 From Yahoo Answer Search: "Creditor" |
