Would I have to sell apartment in Turkey

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kathleen.h

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Post by kathleen.h » Sun Jun 22, 2008 11:38 pm
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We have a lot of debt and want to apply for IVA. However we have an apartment in Turkey. It was bought ,with the help of our sons for myself, as I have severe Rheumatoid arthritis. Our son pays for flights for us to go. I have just had permission from the benefits to go for up to 6 months as it really helps, my condition, being in the sun, and pool relieves pain. Would I have to sell it? It would be devastating.
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Viki.W

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Post by Viki.W » Sun Jun 22, 2008 11:58 pm
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Hey kathleen, welcome to the forum. If, by selling the apartment, you could repay your debts then I think that is what creditors would expect but it all depends on how much it's worth and the level of your debts etc, could you post a few more details as I'm not an expert but one will be along shortly to advise you. Viki X
If you would like to talk to me about your debt problems, please visit:
http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
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MelanieGiles

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Post by MelanieGiles » Mon Jun 23, 2008 12:19 am
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If this asset is important to you, and your health, you might want to consider a DMP rather than an IVA whicn will allow you to keep the property but might end up with you repaying your debts over a much longer period.
Regards, Melanie Giles, Insolvency Practitioner
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