Priority Rights

Judgment Creditor
A judgment creditor is a creditor who has obtained a legal judgment against a debtor, allowing the creditor to enforce collection of the debt owed. This status grants the creditor certain priority rights over other creditors and can extend the enforceability of the claim under the statute of limitations.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.