Ivan Yates has revealed that he considered taking his own life when he was hounded by banks over debts.
The veteran broadcaster who is the new host for TV3’s Sunday AM show admitted that he wanted to end it all after he was separated from his family and living in Wales during a 16-month exile as he availed of the UK bankruptcy process.
“I did have those thoughts. I was confronted with a very serious personal financial crisis,” he said.
Tough: Ivan was plunged into depression when he went into debt | VIPIRELAND.COM
“It was the oppressive nature of the whole legal system — and the vigour and rigour with which the bank pursues issues relentlessly. I felt absolutely despairing of being able to resolve the issue.”
Ivan was left owing debts of €3.6million in 2011 when AIB called in a number of loans after the collapse of Yates’ Celtic Bookmakers.
“The pressure of banks can be a living hell for people,” he told The Irish Sun.
“There is no doubt the mental pressure of depression attached to personal insolvency is very profound. You have to take steps to learn how to train yourself to cope with the pressure.”
Hell: Ivan described the pressure of the banks as a “living hell” | VIPIRELAND.COM
The greatest loss for the TV3 star was losing the Yates family home in Enniscorthy, Co. Wexford – however the bank cannot take ownership of the property till the passing of Ivan’s 83-year-old mum who still lives there.
The former government minister spoke about his bankruptcy in his 2014 autobiography and admitted the book was a way of putting the trauma behind him.
“To be honest I don’t talk about it much now. For the reason that if you articulate the description of what it was like, people feel you are looking for pity and feeling sorry for yourself,” he said.
Moving on: Ivan is fronting new TV3 show Sunday AM with Anna Daly | VIPIRELAND.COM
“Everyone goes through times in their life, whether it’s a disability, or bereavement. You face up to it, deal with it head on, and move on.”
The presenter certainly has moved on – as the frontman of the new Sunday morning show with Anna Daly on TV3.
Ivan is rumoured to be the second highest paid broadcaster in Ireland after Ryan Tubridy.