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Debt blues


Debt blues

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THE INABILITY of some Barbadians to pay their bills is causing headaches for not only banks and financial institutions, but for debt collection agencies too.

In fact, things have gotten so serious that one veteran debt collector has described the situation as “the worst he has ever seen.”

George Alleyne, the owner of Alleyne the General Bailiff and Employment Agency, and one of the founders of the now dormant Debt Collectors’ Association, said that never before had he seen such a high rate of delinquency as it related to loan payments.

Alleyne blamed the downturn in the economy and resulting job losses as two of the main reasons for the inability of persons to pay their debts.

Please read the full story in today’s Saturday Sun, or in the eNATION edition.