Creditor , is the person who has the right to demand the fulfillment of a civil obligation, with respect to another person called debtor . It has in its favor, what in law is called the “general pledge right of the creditors” and that serves to exercise the actions tending to collect its credits in the debtor’s assets and to try the revocation of all the legal acts made by the debtor to his detriment.
Summary
[ hide ]
- 1 How a creditor arises
- 2 Variants of creditors
- 3 Mortgage creditor
- 4 Difference between creditor and provider
- 5 Compensation between a debtor and a creditor
- 6 Source
How a creditor arises
The creditor relationship usually arises as a result of a money loan, but it can also arise for other reasons. Also called lender and obligor. Supplier of goods or services that does not have the strict condition of supplier.
Creditors variants
- Workers are those creditors with respect to the credits contracted by a merchant and the impossibility of accruing their wages.
- Bilateral creditors are governments that grant loans granted or guaranteed by official entities such as export credit agencies. * Some official creditors participate in the debt rescheduling agreements sponsored by the Paris Club.
- Multilateral creditors are institutions such as the International Monetary Fund and the World Bank , and other regional banks, such as the African Development Bank and the Inter-American Development Bank .
Mortgagee
In the mortgage, the mortgagee has the same rights as the pledgee, this because both accessory contracts constitute a guarantee of an obligation, but the pledge falls on personal property and the mortgage on real property .
The mortgagee has the right to request that the mortgaged thing be sold at public auction when the debtor is in default ; with the sale of the mortgaged thing you will be paid. Likewise, the mortgagee may request that the mortgaged property be awarded until the concurrence of its credit. In the mortgage, in addition to the rights mentioned above, the mortgagee also has the right to pursue the mortgaged property in the hands of whoever it is.
The mortgagee will also have the right to have the mortgage improved, if the property is lost or deteriorates in such a way that it is not sufficient to guarantee the security of the debt.
Difference between creditor and provider
The supplier is that natural or legal person to whom we owe money for the purchase of products directly related to the activity of the company. While the creditor is differentiated that purchases are not assets related to the activity but for other concepts.
Compensation between a debtor and a creditor
If a creditor is also a debtor or vice versa, the payment program and the claim program can be mutually compensated for the creditor and debtor open items. When viewing the vendor line items related to this account, you can also select the customer line items.
