Bankrupt Offers To Pay £4 A Week

Press, Volume CI, Issue 29728, 23 January 1962, Page 18

Bankrupt Offers To Pay £4 A Week

A deficiency of £144 was shown in the statement of Trevor James Everest, a driver, to a meeting of his creditors yesterday. But Mr D. Malcolm, agent for the Official Assignee (Mr O. T. Grattan), said the real deficiency was £244, because Everest had not allowed for securities that had been repossessed.

Everest was adjudged bankrupt on his own petition on December 21.

His offer yesterday to pay £4 a week to pay his debts 'was accepted. Mr Malcolm said that Everest’s statement of affairs showed the amount owing to unsecured creditors as £143 Os 3d. The amount owing to secured creditors was

shown as £lOl and the value of the securities as £lOO. Everest’s total debts were £144 Os 3d, and he had no assets. He started running up too many accounts and could not meet the payments, said Everest, giving the reasons for his bankruptcy. First he bought a new motor for a car, then he began buying new tyres and other things. He bought a guitar and had it stolen, and he did not worry about the payments. The others were small items, and he thought he could account for himself once this matter was fixed up. “My reason for filing is I think there is no other way I hope to pay all my debts, and make an offer of £4 a week,” said the statement. Everest, to Mr Malcolm, said he was 27 and single. He was earning £l2 a week net. Mr Malcolm: Will you give an order on your wages for £3 a week? Everest: I would rather keep it at the £4. Do you think you can pay that?—Yes. If you had not received summonses would you have been able to pay your debts? —Yes. Mr Malcolm sail that Everest owed £143 plus £lOl because the securities had been repossessed, and Everest had not allowed for that. “It will take about £250 to clear you of debt,” said Mr Malcolm.

The meeting was adjourned sine die for lack of a quorum.