A creditor is that person or who receives money that has been owed as a result of the concession of a good or service. It is thus understood that the concept of creditor refers to that natural or legal person who must respond to the demand for obligations.
For its part, the bankruptcy is a procedure by which a company or society ceases to have an economic solvency or liquidityand it cannot face the debts and obligations that it has with third parties. In these cases, the company falls into bankruptcy or suspension of payments, running the risk of being seized by not having the certainty of meeting its obligations.