Creditor Debtor Rights

Creditor-debtor rights refer to the legal relationship between lenders (creditors) and borrowers (debtors). Creditors have the right to collect debts, while debtors have the right to fair treatment, privacy, and an opportunity to pay what they owe. Laws exist to protect both parties: creditors cannot use abusive tactics to collect debts, while debtors can challenge unfair practices. In cases of non-payment, creditors may seek legal remedies, such as garnishing wages or seizing assets, but they must follow legal procedures. Understanding these rights helps individuals manage debts and obligations responsibly.