Legal Definitions - single creditor

A single creditor is a person or entity to whom a debt is owed. They are also known as a debtee. This creditor has a definite claim against another person or entity, which is capable of adjustment and liquidation. In bankruptcy, a single creditor is a person or entity that has a claim against the debtor before the order for relief concerning the debtor.

• John owes $500 to ABC Bank. ABC Bank is the single creditor in this case.
• In a bankruptcy case, if John owes money to three different credit card companies, each company is a single creditor for the amount owed to them.

These examples illustrate that a single creditor is a person or entity to whom a debt is owed and has a definite claim against the debtor. In the first example, ABC Bank is the only creditor to whom John owes money. In the second example, each credit card company is a single creditor for the amount owed to them.