Discover who preferred creditors are, how they get prioritized in bankruptcies, and examples of types like employees and tax authorities.

A creditor is any person or organization that lends money or extends credit, expecting to be repaid with interest and fees. Creditors can include banks, credit card companies, hospitals and even ...

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Robert Kelly is managing director of XTS Energy LLC, and has more than three decades of ...