A creditor is a person, organization, or entity that lends money to someone (a Debtor) with the expectation that they be repaid in the future.

Creditors can be individuals, banks, credit card companies, or other types of financial institutions that have extended credit or loaned money to the debtor.

Individuals who loan money are known as Personal Creditors, whereas banks or other financial institutions that lend money are known as Real Creditors.

When settling an Estate it's important to catalog all creditors of the deceased in order to pay all final debt. This must be completed before distributing any remaining Assets to Beneficiaries and Next of Kin.