In legal terms, a creditor is an individual or entity that has the legal right to receive payment or seek repayment of a debt owed by a debtor. Creditors can include banks, financial institutions, suppliers, or individuals who have extended credit or loaned money to another party. They have the legal authority to enforce repayment through various means, such as pursuing legal action, obtaining liens on property, or garnishing wages, depending on the terms of the debt and applicable laws.
Reimagine Your Order-To-Cash with AI
Touchless Receivables. Frictionless Payments.
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Emagia is a leading provider of AI-powered Order-to-Cash (O2C) automation platform that modernizes finance operations for midsize to large global businesses. Many global businesses and shared service centers use Emagia’s Enterprise Receivables Management System to transform to digital world-class operations in credit, invoicing and payments, receivables, collections, deductions, cash application and cash forecasting. Emagia solutions improve their customers DSO, cash flow, credit risk, operational cost, compliance and profitability.
