creditor and a debtor

Creditor is an individual that lengthen credit by giving another individual authorization to have a loan of wealth if it is salaried back at a later date. Creditors can be classified as either personal or real. Those people who borrow money to friends or family are personal creditors. Real creditors have legal deals with the borrower.A debtor is an entity (company or individual) who takes money. If the debt is in the shape of a borrow from an economical entity, the debtor is referred to as a borrower. If the debt is in the shape of securities, such as bonds, the debtor is referred to as an issuer.