Written By Minh Tong
Jan 17, 2023
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A creditor is any person or organization to whom money is owed. This can include banks, individuals, businesses and government entities. When a consumer takes out a loan, they agree to pay the creditor in accordance with the terms of the loan agreement. The creditor then has a legal right to collect repayment from the consumer according to those terms. Creditors may also use other methods such as debt collection agencies, court orders or bankruptcy proceedings to collect unpaid debts. It is important for consumers to understand their rights when dealing with creditors in order to avoid unwanted legal action or financial hardship. Consumers should always review any loan agreement carefully before agreeing it and seek professional advice if necessary.  If a consumer has any concerns or queries about their creditor, they should contact them directly to discuss the matter.

What are creditors used for?


Creditors are generally used to provide loans, credit cards and other lines of credit to consumers. These enable people to purchase items they may not otherwise be able to afford. Creditors also help businesses fund their operations, such as equipment purchases or hiring new staff. Additionally, creditors can help governments finance large-scale projects or initiatives. In all cases, when a loan is taken out by a consumer or business, the creditor has the right to collect on that debt in accordance with the loan agreement. This means that failure to repay debts will likely result in further legal action from the creditor.  It is important for consumers and businesses alike to understand their obligations when borrowing money from creditors in order to avoid any unwanted consequences down the line.   If you have any questions or concerns about your creditor or loan agreement, contact an Americor professional today for assistance.


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About Americor

Americor provides debt solutions to thousands individuals and families all over the country. We’re a next-generation debt relief company with a proprietary platform designed to help clients get out of debt quickly. Together we’ll develop a strategy for you to enjoy a debt free lifestyle. Learn more about how Americor can help relieve the burdens of debt today.

18200 Von Karman Ave, 6th Floor Irvine, CA 92612
New Clients:
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Existing clients:
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We provide debt resolution services. Our clients who make all monthly program payments save approximately 40 – 50% of their enrolled debt (average of 43%) upon successful program completion, before program fees. Fees are based on a percentage of your enrolled debt at the time of starting the program and range from 15%-25% of your enrolled debt. Programs range from 20-48 months. Clients must save at least 25% of each debt due to an enrolled creditor before a bona fide settlement offer will be made. On average, clients receive their first settlement within 4-7 months of enrollment and approximately every 3-6 months thereafter from when the prior debt was settled. Not all Clients complete the program. Estimates are based on prior results and may not match your results. We cannot guarantee that your debts will be resolved for a specific amount or percentage or within a specific timeframe. We do not assume your debts, make monthly payments to creditors or provide tax, bankruptcy, accounting, legal advice or credit repair services. Our program is not available in all states; fees may vary by state. Some programs may be offered through The Law Firm of Higbee & Associates d/b/a Advantage Law. The use of debt resolution services will likely adversely affect your credit. You may be subject to collections or lawsuits by creditors or collectors. Your outstanding debt may increase from the accrual of fees and interest. Any amount of debt forgiven by your creditors may be subject to income tax. Clients may withdraw from the program at any time without penalty and receive all funds from their dedicated account, other than funds earned by the company or fees paid to third-party service providers, as may be applicable. Read and understand all program materials prior to enrolling. Certain types of debts are not eligible for enrollment. Some creditors are not eligible for enrollment because they do not negotiate with debt relief companies. To determine the offers you may be eligible for, Americor conducts a “soft credit pull.” This credit pull does not impact your credit score, creditworthiness, or ability to obtain credit from other sources. The soft pull is not a tradeline entry, it does not report against your score and will only take a few minutes.

Americor Funding, LLC (18200 Von Karman Ave, 6th Floor Irvine, CA 92612) is fully accredited by the Better Business Bureau (BBB), the American Fair Credit Council (AFCC), and the International Association of Professional Debt Arbitrators (IAPDA). CA Department of Financial Protection and Innovation (DFPI) License # 603K913.

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