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Creditors
An organization, or person, that lends someone money to be repaid in the future.
Individuals who loan money are known as Personal Creditors, whereas banks or other financial institutions that lend money are known as Real Creditors.
When settling an Estate it's important to catalog all Creditors in order to pay all final debt before distributing remaining Assets to Beneficiaries.
Individuals who loan money are known as Personal Creditors, whereas banks or other financial institutions that lend money are known as Real Creditors.
When settling an Estate it's important to catalog all Creditors in order to pay all final debt before distributing remaining Assets to Beneficiaries.