19 Aralık 2016 Pazartesi

It Takes a Village...To Go Bankrupt

türkçe links to original Turkish article

(Milliyet Newspaper, 19 December 2016)

Bir köy icralık
             Clearly, they didn't read the book. 

In the village of Düzkışla, with 36 homesteads and 115 residents,
the occupations center on animal breeding and agriculture.  But
most of the people in the village, which is in Banaz district of
Uşak province,  have been unable to pay back credit they took
from banks and so bankruptcy proceedings have begun.

The total of the debts, with interest, exceeds 2 million TL (about
650,000 USD).  As a result, many of the villagers' homes, fields,
tractors and other farm equipment are being sold to cover the
debts.  The villagers' debts range from 27,000 TL to 250,000 TL.

Image result for it takes a village
Go to chapter 11 for info on bankruptcy in the village.

Düzkışla village chief Alpay Duman lamented that "in previous
years we got credit from various banks for animal breeding and
farming.  But our sales didn't cover the costs so we couldn't pay
back the credit.  Since we had co-signed for each other the liens
have been coming to all of us.  For example, the former village
chief, Adem Koca, died last year but his debts were left to us
because we co-signed for them.  Insurance doesn't cover the
debts.  We want the debts in private banks to be transferred to
state banks, have the interest forgiven and then we'll pay the
debts in installments. There's no other way for us to pay the debts."

When farm product sales failed to cover his credit debts İsmail
Şimşek (70) had his home and equipment seized. He noted that
"it's not just me, it's the whole village that's sunk."  Another
villager, Ali Yılmaz (40), said that "some of our neighbors have
left for the city because now there's neither homes nor fields
left here.  Their hopes are in the city."

Fatma Aslan (50) noted that "when someone we co-signed for
couldn't pay we were left with the debt. Everything we owned
has been seized. We don't know what we'll do. At this rate we'll
have to abandon the village."

Image result for uşak haritası
Banaz district is in eastern Uşak province.

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