ABSTRACT
This chapter examines the role of credit in society and identifies the main categories of contractual creditors in relation to both individual and business debtors. It goes on to provide a brief introduction to the mechanics of credit provision and then considers the ways in which a creditor can seek to enhance his or her chances of repayment by taking security. It must also be remembered that in any insolvency, there may also be amounts owing to non-contractual creditors; in particular, there may be unpaid tax and other duties, criminal penalties and civil damages.
