Discover who preferred creditors are, how they get prioritized in bankruptcies, and examples of types like employees and tax authorities.

Daniel Liberto is a journalist with over 10 years of experience working with publications such as the Financial Times, The Independent, and Investors Chronicle. Investopedia / Theresa Chiechi A ...

Question: I heard that the Consumer Financial Protection Bureau (CFPB) recently issued new rules regarding small creditors. How exactly has the definition of a “small creditor” changed with regard to ...