👉 In the context of legal terms and procedures, a "cocreditor" is an entity that owes money to another party. These entities include creditors who are owed money by others (such as banks or debt collectors) and those whose debts have been collected but still owe money back. For example, in a scenario where a borrower has incurred a loan with a company that owes them money, the borrower would be considered a "cocreditor" for purposes of obtaining repayment from the company. Similarly,
