DEBTS TOTAL £135

Press, Volume C, Issue 29553, 30 June 1961, Page 16

DEBTS TOTAL £135

Bankrupt Meets Creditors A total of £135 18s 10d’ owing as debts was shown in; the statement of affairs of, Kevin John Thompson, a general labourer, read at a meeting of his creditors yesterday. Thompson was] adjudged bankrupt on June 16 The formal meeting lapsed for want of a quorum. Mr D Malcolm, agent tor! the Official Assignee <Mr O T Grattani. said Thompson’s' statement showed the • amount owing to unsecured creditors as £122 18s lOd The amount owing to secured creditors was £125 and the estimated value of the security was £ll2. The value of assets was shown as £50.1 this being for furniture In a statement giving the reasons for his bankruptcy. Thompson said he was married and had one child, ft had taken all his weekly earnings to buy furniture and provide for his wife and child. He soon found him- ’ self deep in debt. In an ( effort to make some money iin a side-line business, which fell through, he got i into a worse predicament. He (found his wages were not i enough to live and pay his I debts.

Thompson. replying to questions bv Mr Malcolm, said he had been off work since just after Christmas with a knee injury. He had been on workers’ compensation since early this year He would be 22 in September. His rent was £3 5s a week. He had a motor-car which he bought last October for £125 It cost them £9 2s a week to live, excluding payments on the car, A warrant of commital was issued against him on a judgment order, so he filed in bankruptcy.