Bermudians saw an opportunity to venture out on their own and start Bermuda Debt Collection Agency (BDCA).

Ms Dorlene Raynor and Ms Eintou Carmichael, co-owners of BDCA, located on Church Street near King Street, say business is very good these days.

"The volume is astronomical. It is a very sad situation to see how debts build up. Especially with charge accounts and credit card accounts,'' said Ms Carmichael.

"We are busy. There is a big problem in Bermuda. Many are living beyond their means,'' she added, linking what she called as a growing problem to higher unemployment because of the recession.

There has also been a shift in attitude. More people are caring less about the money they owe, according to Ms Carmichael.

BDCA has seen debts associated with food and health care climb.

"More and more people are obtaining health services and are unable to pay,'' Ms Carmichael added.

The vast majority of the debtors BDCA sees owe money to businesses and most of the time the amount is under $10,000.

"We can and do go to court for amounts up to $10,000 without a lawyer,'' she said.

The accounts receivable has doubled from one year to the next while their success rate has improved at a slightly better pace, she continued.

They opened in October of 1993 and according to Ms Carmichael, their success rate for active files is about 70 percent. Some files have been closed, primarily money sought from debtors who have left the Island, she added.

The business has a $50 annual client fee and receives one-third on money recovered. If none is recovered the client only loses the annual fee.

To recover money owed, the business will set up payment plans and help with budgeting as well as recommend procedures company's can follow to reduce risk.

Sometimes part of the solution is paying bills weekly instead of be inundated at the end of the month, she explained.

"We even make arrangements to pay $5 a week on a debt and consolidate debts and help manage money,'' she said.

SEEING RED -- Ms Eintou Carmichael, left, and Ms Dorlene Raynor, who formed Bermuda Debt Collection Agency two and one-half years ago, report business up.