DEBT COLLECTOR’S DEBTS

Poverty Bay Herald, Volume LXI, Issue 18366, 7 April 1934, Page 5

DEBT COLLECTOR’S DEBTS

CREDITORS DISSATISFIED POLICE ACTION PROPOSED (Per Press Association.) PALMERSTON N., this day. Nearly 30 persons wore present at a meeting of the creditors of 'John Robert Mcllraith, an agent, which was held yesterday, when a resolution was passed requesting the Deputy-Official Assignee to place the whole matter ox what appears to be a case of trust moneys not paid to creditors In the hands of tho police. According to evidence tendered, the bankrupt, after incurring considerable liabilities in Wellington while a salaried debt collector, .came to Palmerston North 18 months ago, and, although on his own admission was practically insolvent at fthe time, commenced a debt collecting business of his own with a capital of £34. He recently filed his 'petition with a deficiency of over £I6OO owing to nearly 300 creditors, chiefly persons for whom ho undertook to collect debts. The creditors were resident over a wide area, covering Palmerston North, Feilding, Foxton, Rongotea, Dannevirke, Raetihi, Taihape, Hunterville, Mangaweka, Johnsonville, Otane, Waipawa, Pongaroa, Pahiatua, Shannon, and elsewhere. The bankrupt was subjected to a lengthy examination. He attributed his failure to lack of capital and hard times.