www.iva.co.uk

HI everyone, can anyone advise what i can do i am currently on the sick at work with Depression the thought of getting up on a morning scares me. I am really unhappy in my job i am a retail manager and the stresses and strains of little petty silly and even pressureful issues i just cannot deal with right now. The pressure of having no money and dealing with this is too much. I have been in my iva for 2 years and have paid back £6000 and i am paying 17000 back in total inc fees 52p in the pound. what are my options regarding my iva if i just carnt go back to work and face it.

Please help
thank you

Hey David, I'm really sorry you're going through all this. Your priority is your health and wellbeing. Please make sure that you go and see your GP so that you can find a way through this. Contact your IP as soon as possible and explain your situation. Your IP may be able to give you a payment break until you're feeling more positive and able to face the world again. There is always bankruptcy if you anticipate this to be along term thing. Look after yourself and get the help you need. Good luck, Viki X

Hiya David. I suffered with depression a few years back so can understand when you say that you can't face going back to work.
Contact your ip, explain and see what your options would be. As Viki says, there is always br, it's not as bad as people think and it may be the best solution to your problem.
Contact your GP, there is help and medication for people who have depression, they are there to help you.
Good luck

Hi David and just to add my thoughts with regard to your situation.

There are wider issues here than just your debt situation, but if you were able to deal with this and not feel that you are just working hard to pay old debts, this may make you feel more motivated about work.

Do you have any assets which would be at risk under bankruptcy proceedings? If not, then this might be a better option for you in the long run.

Hi thank you all for your concerns and support.Just replying to your message Melanie my car is excluded from the iva as i needed my car to get to and from work. I am not sure about my house though because when i entered into the iva a lived at home with my parents and now i am a homeowner. Once i got settled in my home they sent me some documentation to sign and they said it was kind of a little flag on my property to protect my property from creditors so i do not know if my home is linked to the iva or not.

Interms of my Depression its not mainly down to my iva however it doesnt help its more the fact i just do not like my job and can not bear the thought of going back. I would like to take another job however i am sure my pay would be cut due to my senior role how would my iva work around this.

Thank you
David

My advice, and I'm partly in the same situation would be to begin looking for another job.

This would help in two ways.

First it gives you something to focus on, and provide renewed determination to change your circumstances. This hopefully will take some of the emotional pressure of work also, and divert your mind.

Secondly you'll be building the first steps towards a positive outcome, since you will determining how you wish to live your life, and give you some power back.

As long as your upfront with your IP even if your income is reduced, then your IVA can be reviewed and modified to suit your new circumstance.

Don't worry about everything else. Make yourself happy first and everything else will fall into place.

David

If you bought the property after the IVA commenced, it is unlikely to form part of your arrangement, however any equity you have in the property would vest in any subsequent Trustee were you to be made bankrupt.

Hi David I too am being treated for depression and I am just about managing to remain at work but not sure for how long to be honest. So all I am saying is hang on in there things will get better even if it seems so bleak now.

Take Care
Jan