Creditor and debtor law includes the rights and obligations of (1) creditors who extend credit and make loans to consumers and businesses and (2) consumers and businesses who seek credit and loans for their personal and business finances. Creditor/debtor law consists primarily of state and federal statutes.

In Pennsylvania, creditor and debtor law is governed by a combination of state statutes and federal laws that outline the rights and obligations of both parties involved in credit and loan transactions. Creditors, such as banks and lending institutions, are regulated in their practices of extending credit and collecting debts. This includes adherence to the Pennsylvania Fair Credit Extension Uniformity Act, which prohibits unfair credit extension practices, and the Pennsylvania Loan Interest and Protection Law, which sets maximum interest rates and protects borrowers from usurious lending practices. Debtors, including consumers and businesses, are protected under state law from abusive collection practices by the Pennsylvania Fair Debt Collection Practices Act, which mirrors the federal Fair Debt Collection Practices Act (FDCPA) and provides additional state-specific consumer protections. Additionally, federal laws such as the Truth in Lending Act (TILA) and the Equal Credit Opportunity Act (ECOA) provide further regulations on disclosure and non-discrimination in credit transactions. These laws collectively ensure a fair and regulated environment for credit and loan activities within the state.