The Welcome to the Black Parade hitmakers broke up in March, 2013 after 12 years together, and frontman Way later wrote a blog post to fans explaining the rockers wanted to bow out while still at the top of their game.
However, the decision had a devastating effect on Way and he spent months struggling to overcome his despair.
He tells Q magazine, "Doing the right thing is usually the hardest thing. I was the most depressed I've been in my whole life... Towards the end (of the band's career), I wasn't being true to myself. It was when I decided to be honest with myself that I started to get better."
Way is now pursuing a solo career and he credits music with lifting him out of his gloom, adding, "At a certain point after the band had broken up, I realised this was the therapy that helped get me through it."