A “debtor” is someone who owes money.
A “creditor” is a person or company that a debtor owes money to. A creditor can be a person, a bank or a company.
A “debt collector” is someone who tries to collect money from people who owe money to someone besides the debt collector. In other words, a debtor promises to pay an original creditor, but a third person (a debt collector) is trying to collect that debt. Some debt collectors are lawyers.
The law has special rules to help protect debtors from debt collectors.
To find out more, see: