what are the different types of creditors 
creditors can include friends or family that you borrow money from and have to pay back unsecured creditors are those that lend money without any collateral secured creditors are those that lend money with collateral so that if you default on your loan they may repossess the asset pledged as collateral to cover the money they have lost the bottom linea creditor is an individual or institution that extends credit to another party to borrow money usually by a loan agreement or contract on secured loans creditors can repossess collateral like homes or cars and creditors can sue debtors for repayment of unsecured loans the fair debt collection practices act fdcpa established ethical guidelines for the collection of consumer debts by creditors 