This publication includes...

• Credit
• Debt
• When a Debtor Cannot Pay
• Debts to Government
• Resources

Credit is simply the ability to receive a thing, service or other benefit now, with a promise to pay for it later. The person who provides the money, service or item is called a creditor. Credit agreements are not limited to business transactions. In fact, many kinds of credit are available to the average person.

Using credit may seem harmless and can help to get what you
need or want right away. Of course, when you use credit, it always leads to something most people find less pleasant. No matter how quickly you intend to pay for the thing you have received, credit arrangements always create debt.

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