yes, but thats a different CTOS check... its more for trades. Eg. Company A owes Company B debts, hence, Company B can lodge this debt into CTOS, to deter COmpany A frm getting "easy" credit terms frm other companies in the same industry...

but as for individuals, CTOS will only enter the record upon a formal legal suit, summons, bankruptcy ... there is a dept in CTOS whereby the staffs there does nothing but go thru daily newspaper and cut out those summons advertised by banks, Proclamation of sale... etc etc