This paper contributes to our understanding of systemic risk associated with households by presenting a detailed analysis of credit suppliers and users in Chile from 1997 to 2008. It offers the results of an intense effort to collect and harmonize data, followed by a study of this market's interconnections and underlying risks and an initial assessment of the associated systemic risk. The paper concludes that, though the risk is significant, it is contained, mainly due to aspects of demand and supply and institutional circumstances. Continuous monitoring from both microeconomic and systemic perspectives is important, especially for the Central Bank of Chile.