IVA or ending it all?

Vikipollard

Late to the party on this one, but I hope you're still checking in Calmwaters to see your responses.

I've been exactly where you are. I got myself into an unmanageable debt situation following the breakdown of my marriage. I went into an IVA because it was the right choice for me - and the relief I felt knowing there was an end to it (albeit six years later) was immense.

I also worried about people finding out, but as far as I know, no one ever bothered to look out of my colleagues or friends/family.

When I got my job, an IVA was not a problem. Then the rules changed. I need particular vetting every seven years. I remember being in tears speaking to a member of that team. I'd actually finished the IVA, but the question was "in the last ten years" and I thought I'd be sacked. They couldn't have been more supportive. It's now seven years since I finished paying my IVA, and vetting time again next year, so I'll still have to declare it.

In recent years I have felt able to open up to my line manager and those I'm working closest with that I was in financial difficulty 13 years ago (and why). I'd like to think being honest about it in part helped one of my staff to open up about their difficulties, and that I could support them rather than them feeling isolated.

enthusiasticsaver

I have never looked at an insolvency register and I am sure I am not alone and I worked in finance for 20 years. Most people don't care and it can happen to anyone. I would make sure an IVA is right for you by phoning stepchange or payplan or National debtline.

sourcrates

They have not logged in since 16/11.

calmwaters

Thank you so much for all your replies, I have been feeling really down until I read the comments today. I thank each and everyone of you for taking the time to read and reply to my worries.

I have decided to go ahead and await the creditors meeting. I just hope all goes okay otherwise bankruptcy will result in me loosing my job.

I will keep you posted