www.iva.co.uk

I experienced a period of mental health problems which caused me to be off work for 6 months and necessitated being under the care of a consultant psychiatrist. During that time my debt problems became acute and I took out a bank loan with the aim of consolidating debt.

With hindsight this was not a wise decision and made during a period where I was not thinking straight about issues and has – a year on – only really compounded the problem.

I was never sectioned or admitted as an inpatient to hospital so presume I was legally competent to enter into a contract? Basically I want to know whether my mental health is a mitigating factor in relation to my credit situation when approaching or dealing with what now totals a debt of around £60k

Hi P.D ... and welcome to the forum. I am not an expert here but just wanted to say that i hope you are feeling better now and please keep posting about your situation because you are truly amongst friends here.

I am sure that your past poor health would not prevent you entering into an IVA if that is what you were hoping to do ... but one of the experts will be along shortly to give a better insight.

Take care ... good to have you on board on the forum [:)]

Debbie

www.babynamings.co.uk

www.soulgrowth.co.uk

Hi p.d
Your mental health problems will be taken into account,especially if you enter into an insolvency agreement.
Can you post more details such as sisposible income[after not paying any secured debts] and house value/outstanding mortgage if applicable
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

Do you mean in a positive way Andy i.e that it wont effect p.d in a discriminatory way of entering an IVA ... but provide some allowance for their debt situation?

Debbie

www.babynamings.co.uk

www.soulgrowth.co.uk

Hi
Yes in a positive way.We all have to produce a statement regarding how we accumulated our debts and the reasond behind it when proposing an IVA.
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

Absolutely .... [:)]

So don't be afraid p.d [:)]

Debbie

www.babynamings.co.uk

www.soulgrowth.co.uk

Hi, and sorry for not getting back sooner

my disposable income before paying debts (all unsecured) is £452. my total debt stands at around the 60k mark. i rent property and have no other assets.

i also wanted to mention that since my mental health problems became debilitating i have now been referred to a specialist as they believe i may have a high functioning autistic condition called aspergers syndrome. I've no idea yet whether this lifelong condition may have impacted on me making bad choices without thinking them through and how that can relate to debt management issues.

cheers

andydavie wrote:

Hi p.d
Your mental health problems will be taken into account,especially if you enter into an insolvency agreement.
Can you post more details such as sisposible income[after not paying any secured debts] and house value/outstanding mortgage if applicable
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

Your health issues demonstrate reasons why you are in your current position, and you can either enter into a DMP, propose an IVA or declare yourself bankrupt. Take professional advice on the pros and cons of each option, and think carefully before you decide what is best to do.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp