Resigning while sick and about to go bankrupt

steampowered

If you resign and go onto benefits for a material period of time, that will make it harder to find another job.

Could it be worth trying to find another job ASAP? Even if it is just a part-time role for now?

Something that gives you a bit more time to focus on your mental health, but still keeps you in work, could be worth considering.

I already feel I'll struggle as I'm hugely qualified in one specific area and I realise it's going to look odd when I apply for unskilled type jobs. I don't wish that to sound snooty but I'm aware it will look weird!

I think you could easily explain this. Stating that you are looking for a less pressured role (even if that comes with lower pay) is a perfectly reasonable explanation of why you are applying for lower level jobs.

stuartJo1989

If you have struggled to deal with chronic fatigue for years (when a large factor appeared to have been the job) then I would question whether you are actually coping with the gambling issue, or whether you are merely not gambling because your money has dried up.

Hoogle

Your either fit for work or you are not. If you are unfit then maybe speak to an advisor about taking medical redundancy and going onto ESA as long as you have medical records proving you suffer from tiredness/ME etc due to medical grounds you should be fine. However I would not quit any paid work until your bankruptcy has gone through, would be horrible to go on benefits to find they do not accept your bankruptcy and put you on a DMP or IVA. Use benefits calculators to see what you are entitled to you may be better off working part time rather than ESA but Changing your financial situation is not going to be easy for you until you know what your actual outgoings are going to be. Pointless doing another job if in 2 weeks your going to decide your unfit for work. Speak to your doctor decide if your fit to do another job even if only part time, then depending on their advice you can then apply to become bankrupt making sure you have a basic bank account for any potential benefits to be paid into.

stuartJo1989

steampowered wrote: »

If you resign and go onto benefits for a material period of time, that will make it harder to find another job.

Could it be worth trying to find another job ASAP? Even if it is just a part-time role for now?

Something that gives you a bit more time to focus on your mental health, but still keeps you in work, could be worth considering.


I think you could easily explain this. Stating that you are looking for a less pressured role (even if that comes with lower pay) is a perfectly reasonable explanation of why you are applying for lower level jobs.

Yea, I agree with this.

I've gambled in the past and I have to go to GA to help keep it at bay. If OP has run up that sort of debt then first and foremost they probably do need some proper intervention! I'd be hopeful that OP is not merely paying lip service by saying "due to compulsive spending/debting and gambling which I'm now in control of (ie I no longer gamble or spend with debt/ compulsive buying)" - pretty easy not to gamble/spend money when you have no money/credit!! Or when the big losses are raw in your mind!

But yea, going back to your point about the part time role. I think this is a brilliant idea, because in one respect the work seemed to have been a big contributor to OP's issues BUT it undoubtedly kept them out of the bookies as well! Long term sick with a gambling problem? That *can be* a bad mix if you haven't dealt with the emotional side of compulsive gambling (the big void of weeks on end with little to do, the underwhelming monetary payments, the lack of purpose, the depression, the drinking + gambling - I was briefly on the dole a number of years ago and that's how I felt!). I was in a job which was making me ill and it took me a long time to recognise that. GA helped me to recognise this and how my whole approach was wrong. Ended up getting a new job and it was 1000x better.

Prudent

I had to give up work two years ago due to two long term illnesses. I do understand what you mean about being 'burned out' and no longer able to return to your profession. I had pushed on through the illnesses for four years, repeatedly returning after spells of ill health and it just resulted in a spiral of deteriorating health. I could never foresee myself returning to my former role due to health issues.

Once you have been on sick pay for 6 months you can claim ESA as statutory sick pay runs out at that point. It might be well worth looking at your ill health retirement options. Some schemes have a lower option that applies if you can work, but not in your former role. Having that plus a lower salary may bring you closer to your current salary.

peachyprice

weekari wrote: »

I've met with CAB and they've advised bankruptcy. That was in October but it's going very slowly so that's still to be applied for (the cab debt adviser has said some of my debtors are taking their time replying to her).

Just picking up on this ^. I don't understand what your CAB 'advisor' is referring to.

You don't need creditors to reply to anyone, you fill in the forms, you pay your fee, you make yourself bankrupt (if agreed by the adjudicator), there is no need to communicate with your creditors at all.

You can do it yourself online through the .gov website
https://apply-for-bankruptcy.service.gov.uk/

Perhaps have a read through the Bankruptcy section of this forum.
http://forums.moneysavingexpert.com/forumdisplay.php?f=136

This is one thing you can have complete control over yourself and I think it would do you mental health wonders to get this aspect of your life sorted.

NeilCr

peachyprice wrote: »

Just picking up on this ^. I don't understand what your CAB 'advisor' is referring to.

You don't need creditors to reply to anyone, you fill in the forms, you pay your fee, you make yourself bankrupt (if agreed by the adjudicator), there is no need to communicate with your creditors at all.

You can do it yourself online through the .gov website
https://apply-for-bankruptcy.service.gov.uk/


Perhaps have a read through the Bankruptcy section of this forum.
http://forums.moneysavingexpert.com/forumdisplay.php?f=136

This is one thing you can have complete control over yourself and I think it would do you mental health wonders to get this aspect of your life sorted.

I was wondering that.

The only thing I can think of is that the OP doesn’t know the actual amount of all their debts and the debt advisor is trying to find that out. While thinking bankruptcy is the best way forward it could be, depending on the responses, that it turns out that a DRO is possible.

peachyprice

NeilCr wrote: »

I was wondering that.

The only thing I can think of is that the OP doesn’t know the actual amount of all their debts and the debt advisor is trying to find that out. While thinking bankruptcy is the best way forward it could be, depending on the responses, that it turns out that a DRO is possible.

OP wouldn't need to know the exact amounts, just the names of the creditors and a rough estimate, it would all be included in the bankruptcy, even if they forgot a creditor.

I do wonder if the CAB person, having advised bankruptcy is best, is in fact trying to arrange an IVA, £40k debt would be too much for a DRO and you have to include all creditors.

NeilCr

peachyprice wrote: »

OP wouldn't need to know the exact amounts, just the names of the creditors and a rough estimate, it would all be included in the bankruptcy, even if they forgot a creditor.

I do wonder if the CAB person, having advised bankruptcy is best, is in fact trying to arrange an IVA, £40k debt would be too much for a DRO and you have to include all creditors.

To be honest, I’ve had clients who have absolutely no idea how much their debts are!

Fair comment, though. I missed the £40k in the OP.

Might just be choice of words. The CAB adviser might have said that it looks like bankruptcy is the best bet but needed to look into it a bit more.

Nothanks

Also worth checking your pension scheme through work. If you've got 20 years service, what benefits are available through work? Long term disability and I'll health retirement are both options for long term health issues at my place. Have you been referred to OH?