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Paralegal Exam Prep

Category - Legal Envrmt

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A creditor is:

Someone who owes a debt.
Someone appointed to oversee a bankruptcy estate.
Someone who has a credit card.
Someone who has filed for bankruptcy.
Someone to whom a debt is owed.

Explanation

Answer: E. A creditor is someone to whom a debit is owed. A creditor may be a person or an entity such as a business. The person or entity that owes the debit is referred to as a debtor.

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