While some important records are public, many are not. It isn't obvious that all debtors want the details of their debt made world-readable, for instance.
Right, which is why in the article I linked, I describe a system that stores only the hash of the debtor's personal data on chain. A lender with the preimage can still use that to prove its case.
For stronger privacy we'd need ring signatures or zksnarks, so a person can't be identified by the flow of payments, but those technologies exist on various blockchains already.
For stronger privacy we'd need ring signatures or zksnarks, so a person can't be identified by the flow of payments, but those technologies exist on various blockchains already.