A creditor is an individual, organization, or entity that is owed money or has a claim to receive payment from another party. In financial terms, a creditor is someone who has extended credit or provided goods, services, or funds to another party with the expectation of being repaid in the future. Creditors can take various forms, such as banks, financial institutions, suppliers, vendors, or individuals who lend money. They have a legal right to collect the amount owed to them and may have the ability to take legal action or pursue other measures to recover the debt if it is not repaid as agreed.