In your quote, the meaning of *provide for* is *to act to prepare for something* (Wiktionary, [verb sense 2][1]). 

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. 


  [1]: https://en.wiktionary.org/wiki/provide