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Hi as the title says, I am in a job that I hate and that is making me ill (I've just tried coming off Prozac but each day is a real challenge).

I'm 2.5 years into an IVA and am now wondering if it would be possible to declare myself bankrupt if I resign from my job.

Also my mother has said that I can go an live with her in Spain which of course would mean no expenses, and as we all know mothers love us no matter what we do, and so whilst it would not be ideal for me to be living off her again, I think she would rather that be the case than me make myself ill again by carrying on working for the current company.

In my IVA, I had over £100k debt spread across 15 people, and pay £530 each month.

If I do declare myself bankrupt what is involved? Do I have to go to the Court, and is bankruptcy recognised everywhere in Europe or just in the UK? Also does it make any difference (easier or harder) to become bankrupt if I've already been in the IVA for over 2 years?

I know this would be running away, but at the moment it feels like an offer too good to refuse and which will give me time to refocus and start again.

Sorry for the long post. Help and advice please.

Thanks

Hi Vicky and welcome to the forum. I am not qualified to answer your question but sure someone will be able to very soon. I sympathise as I too hate my job but can't afford to change... not for another 3 yrs and 10 months!! Hope you get the answers you need and life improves for you.

Kitkat44444

Hi Vicky

What a shame that your dislike of your job is going to cause you to be unable to repay your creditors as originally envisaged. There is nothing to stop you declaring yourself bankrupt at any time during the IVA, although you will have to demonstrate good reasons to the Court as you will have to attend. Bankruptcy will generally only affect you in the UK.

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