Creditor

A person, whether natural or legal, is a creditor of another if he or she is legitimately authorized to demand payment or compliance with a previously contracted obligation. That is, even though one of the parties is left without the means to fulfill its obligation, it persists. For example, in the event of the bankruptcy of a company, its creditors retain the power to require compliance with said obligation.

Variants

• Workers are those creditors with respect to the loans made by a merchant and the impossibility of accruing their salaries.
• Them bilateral creditors are Governments that grant loans granted or guaranteed by official entities such as export credit agencies. Some official creditors participate in the debt rescheduling agreements sponsored by the Paris Club.
• Them multilateral creditors are institutions such as the International Monetary Fund and the World Bank, and other regional banks, such as the African Development Bank and the Inter-American Development Bank.

That has merit to obtain something. Action or right to request compliance with some obligation, that is, that a debt be satisfied.

Creditors according to Mexican legislation

In the case of the previous example, taking into account Mexican legislation, workers maintain the power to demand payment of their salaries.

Taking the definition given by the Federal Labor Law, work is understood to be: "All human, intellectual or material activity, regardless of the degree of technical preparation required by each profession or trade", and that in In Mexico, all work activities must be accompanied by fair remuneration and never less than the minimum wage established during the current year, with salary understood as 'the remuneration that the employer must pay to the worker for his or her work'.

It is evident that protecting salaries in this way is due to the goal of a government to protect and ensure the interests of its governed, whose social nucleus is the family and that workers, through their salaries, are the support of the family, making this evident the purpose of giving the salary the non-attachable character that it adopts in many of the current legislations of Mexico, such as: the Code of Civil Procedures for the Federal District, when it orders that they are exempt from seizure the salaries and wages of workers, in the terms of the Federal Labor Law; as long as it is not about alimony debts or responsibility arising from crimes.

Mexican legislation also empowers creditors so that, in the event of non-compliance with the previously contracted obligation, they can collect with different and specific assets.

Creditor according to Chilean legislation

A natural or legal person with a tax obligation who has the right to demand compliance, even forcibly, as well as demand the application of sanctions for non-compliance with the related legal duties.