Meaning of the word "creditors have better memories than debtors" in English

What does "creditors have better memories than debtors" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

creditors have better memories than debtors

US /ˈkrɛdɪtərz hæv ˈbɛtər ˈmɛməriz ðæn ˈdɛtərz/
UK /ˈkrɛdɪtəz hæv ˈbɛtə ˈmɛməriz ðæn ˈdɛtəz/
"creditors have better memories than debtors" picture

Idiom

a proverb meaning that people who are owed money are much less likely to forget the debt than those who owe it

Example:
I forgot I owed him fifty dollars, but he certainly didn't; creditors have better memories than debtors.
Be careful with your loans, because creditors have better memories than debtors.