15 Nisan 2011 Cuma

Be Careful When You Co-Sign a Loan

yayla (links to original article)

(Hürriyet Newspaper, 13 April 2011)

Tailor Ali Yayla (35) lived with his wife and three children in Uşak. Two
years ago he co-signed for 50,000TL worth of credit that his friend
Güray Tıraş was planning to get from a bank.  Tıraş didn't make either the
credit payments or the interest from the first month on so when the debt
reached 70,000TL the bank started proceedings against Yayla. Explaining
the situation to his wife, Yayla said that they must divorce in order to avoid
losing all their assets.

The couple divorced amiably in one court hearing but continued to live
in the same house. Yesterday morning at 0730, however, the repossession
officials came to their house.  Yayla panicked and tried to hide himself on
the bedroom balcony but when he heard the officials and a lawyer come
into the bedroom looking for him he used his leather belt to tie himself to
the balcony's iron bars, dangling from the seventh floor. The belt could not
carry Yayla's weight and the unlucky tailor fell to his death below.

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