Personal debt listings rise to $13m

The Cook Islands Credit Bureau, in its second year of operations in the Cook Islands, has already reached $13 million in personal debt listings received from businesses in the Cook Islands.

The ability to centralise the listings of debts incurred by businesses, that includes bad debts, arrears, accounts over 60 days old, and non payment for services, provides valuable decision making information when assessing applications for hire purchases, trading accounts, loans, other forms of contracts for credit, and employment.