What is the distinction between debtor and creditor?
What is the distinction between debtor and creditor?
Debtors are the persons to whom goods are sold. They are simply buyers.
Creditors are the persons from whom goods are purchased. They are simply sellers.
A creditor is a person who lends money and hence is a person to whom a debt owes.
A debtor is a person on the other hand who has to repay the debt that he owes to a creditor. This is the major distinction between a creditor.
