We’re rewarding the question askers & reputations are being recalculated! Read more.
2 of 4 added 213 characters in body

In your quote, the meaning of provide for is to act to prepare for something (Wiktionary, verb sense 2).

We may rephrase the quotation this way:

It turns out that there are contractual answers as well: creditors can prepare for these possibilities in advance, not between themselves but by taking security interests in your assets—in other words, a right to take back your property directly if you run out of money.

It is not the sense initially quoted as (of a law) enable or allow (something to be done).

Compare:

The law provides for tax refunds in order to speed up the construction of the bridge.

and:

The architect provided for the possibility of storms by strengthening the abutments.

You can substitute provide in the place of provide for in the first phrase, and it will be readable and have a meaning close to the original:

The law provides tax refunds in order to speed up the construction of the bridge.

But if you make a similar change in the second sentence:

The architect provided the possibility of storms by strengthening the abutments.

the resulting sentence is absurd: stronger abutments are somehow supposed to invoke storms.