I'm a complete noob with WordPress, but I'm trying to learn.
The issue that I'm having is the people who built my website have downgraded my privileges to "editor" and I am wondering if there is anyway of regaining Admin access?
We did not end on good terms... I'm assuming the Admins have complete control over the other admins for the website? Is there a way of installing the latest version of Wordpress or other plug-ins without being Admin?
Sorry to hear you're having to deal with this. Unfortunately, only Administrators can change or assign Administrator privileges to another account.
If you have access to your web hosting control panel (which is completely separate from your WordPress administration area), and if your web host provides access to the MySQL database for your site, then it is possible to edit your account role and even delete other users using phpMyAdmin. But it's a very delicate process that I would not recommend you undertake yourself. If you make a mistake in the database, the entire site could be compromised or even lost.
So, if you do have access to the database from your web hosting provider, I would recommend hiring a WordPress expert from Codeable who can help you regain access to your website.
If you don't have access to your web hosting control panel, then your only choice is to have another Administrator restore your own admin privileges.
Wish I had a better answer for you, but I hope this helps point you in the right direction.