Debt as an Asset Class

A debt is created when a creditor agrees to lend a sum of assets to a debtor. Debt is usually granted with expected repayment.
The various types of debt can generally be categorized into:
1) secured and unsecured debt,
2) private and public debt,
3) syndicated and bilateral debt, and
4) other types of debt that display one or more of the characteristics noted above.

Debt allows people and organizations to do things that they would otherwise not be able, or allowed, to do.