Debtor and creditor an overviewdebtor creditor law governs situations where one party is unable to pay a monetary debt to another there are three types of creditors first are those who have a lien against a particular piece of property. Debtor and creditor debtor and creditor relationship existing between two persons in which one the debtor can be compelled to furnish services money or goods to the other the creditor this relationship may be created by the failure of the debtor to pay damages to the injured party or to pay a fine to the. Debtor creditor law does not solely exist for the purposes of credit collection however while the results of debtor creditor litigation along those lines are undoubtedly important they are usually of a purely financial nature. Law of debtors and creditors assignment 3 september 17 2016 law of debtors and creditors assignment 5 september 17 2016 giovanni has always been a religious man he grew up as a member of the church of rock and has stayed very active in the religious community the church is a qualified charitable entity in new jersey that actively . Debtor creditor law applies to all non bankruptcy aspects of the relationship between creditors and debtors one of the main goals of debtor creditor lawyers is to keep their clients out of bankruptcy court