Author Topic: Credit Check Superthread- Merged Topics  (Read 217932 times)

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Harrier101

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Re: The Credit Check Superthread- Merged Topics
« Reply #50 on: August 08, 2004, 13:42:48 »
I just want to let you all know that I am with Credit Counselling, non profit, out of Toronto, I have been with them for over 18 months now, and it has helped big time. I was initially applying for the Police here in Ontario and they are a little more sticky on the credit thing than the CF is. If you have bad credit, regardless of who is after you, you should do regular credit checks through Equifax and Trans Union every 6 months, it's the same info the CF looks at. If you Have R9's on there, get to a credit counselling agency ASAP. It can then be changed from R9...Bad debt, unable to locate,  too R7 payments made through credit counselling or similar arrangement. It's well worth it. It also, shows you are taking charge of your debt.

In my situation, I had a kid, the wife went on Mat leave and was making squat on Mat Benefits, we had to move from our apartment in Scarborough, all the way out to belleville, get another job, living in a smaller apartment and it goes on and on. To make it short, I was stuck with bills, and less income.It was manageable for many years, then i went to not being able to make payments. So, I had to do it. You should be alright if you have the proper letters. I am getting one from my credit counselling agency just stating that I am making regular payments and that my debt is being lowered.

lfejoel25

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Re: The Credit Check Superthread- Merged Topics
« Reply #51 on: August 08, 2004, 20:38:14 »
Harrier 101
that's kind of a coincidence.  I used to live in Belleville, I worked for nortel, and that's where all all my credit problems started.  They shut down production at the plant in ....Nov 99???  Too bad too, they paid good.

Harrier101

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Re: The Credit Check Superthread- Merged Topics
« Reply #52 on: August 09, 2004, 19:33:04 »
Yea, Belleville is alright. Better than Toronto. Too smelly and the not the right place to bring up a kid in my opinion. Anyhow, I am with stream right now doing phone tech support. Pays pretty good, at least my bills are now being paid and I have food on the table. Wasn't so about a year and a half ago. Things have improved, and hopefully will get better over the next year when I get into the Forces.  

autumnweapon

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Re: The Credit Check Superthread- Merged Topics
« Reply #53 on: August 10, 2004, 17:35:47 »
 I hoping to here from any who was in this situation before entering the forces. I just had my interview and did well problem is I have a load of debt to pay off ( laid off, out of work for 1year and just finally made past 3 months at my new job). I was on u.i for year, didn't get alot of money and had to pay rent and get food, didn't have much to pay my bills. My job now pays $50 more than I got on U.i. I really want to get in, but was told I have to clear up my debt a bit?
 has anyone gone through this? and any suggestions? 310-debt? :cdn:
« Last Edit: August 10, 2004, 17:55:37 by autumnweapon »

Offline Freight

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Re: The Credit Check Superthread- Merged Topics
« Reply #54 on: August 10, 2004, 18:19:39 »
There's some info on this here - http://army.ca/forums/index.php/topic,13553.0.html
I would suggest as others already have on the above thread, that you look into signing up with a non profit credit counselling service.  They are life savers.
Life is not a dress rehearsal. Decide, then do.

jay74

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Re: The Credit Check Superthread- Merged Topics
« Reply #55 on: August 27, 2004, 06:03:35 »
I am hoping that someone could help me out.  I would really like to join CF but currently I am holding debt in the form of a student loan.  I have been told by some sources that CF will not take me due to this debt.  Is this true?  If so,  is there anything I could do to help the matter besides paying it off in full?
« Last Edit: October 10, 2006, 07:12:29 by George Wallace »

Offline Ex-Dragoon

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Re: The Credit Check Superthread- Merged Topics
« Reply #56 on: August 27, 2004, 06:23:01 »
Have you read the Recruiting FAQ section?

http://army.ca/forums/index.php/board,18.0.html
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Offline George Wallace

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Re: The Credit Check Superthread- Merged Topics
« Reply #57 on: August 27, 2004, 06:33:13 »
Years ago when I joined, I had a Student Loan.  As I was young and it was my first Job, I set up a Pay Assignment to the bank that held the Loan and paid it off.  It came out of my pay before going to the bank I was using for cash and I never even missed it.  I did that at the same time I was setting up my direct deposit banking at the Pay Office.

Same thing goes for an RSP.  As soon as you join set up a RSP and you won't even notice the money going.  Your living standards will not change for the worse so drastically if you do all this when you first join, because you won't have that many pays to readjust to a regular paycheck, if you catch my drift.

GW
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Offline spacedog

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Re: The Credit Check Superthread- Merged Topics
« Reply #58 on: August 27, 2004, 11:49:27 »
I am hoping that someone could help me out.   I would really like to join CF but currently I am holding debt in the form of a student loan.   I have been told by some sources that CF will not take me due to this debt.   Is this true?   If so,   is there anything I could do to help the matter besides paying it off in full?

I know a lot of people in the CF who joined with significant outstanding debt and/or student loans.  If you go through the application process, they'll ask you about that kind of stuff.  Just be honest.

Offline *CDN*Blackhawk

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Re: The Credit Check Superthread- Merged Topics
« Reply #59 on: August 27, 2004, 11:56:35 »
I owe 20k in student Loans, and still got in, their biggest concern inst necessarily how much you owe,they are more concerned with whether or not you can pay all your bills, and whether or not if you have a good credit history.
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Offline Casing

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Re: The Credit Check Superthread- Merged Topics
« Reply #60 on: August 27, 2004, 12:16:23 »
Good credit history isn't even necessarily the ball breaker.  The key factor is: are you in charge of your debts.  That means, are your debts out of hand, or are you making regular payments.  If they have a question about it, they'll ask you and give you an opportunity to explain.

Offline hoser

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Re: The Credit Check Superthread- Merged Topics
« Reply #61 on: August 27, 2004, 12:53:24 »
I was in the same situation, I had a fairly large debt, and I was given an offer (I'll be sworn in, in one week).  I've already posted my story in other threads, if you want to search.  Or if you'd rather,  you can PM me, I can try to answer any questions you might have about what you need to do. 

Ryan_Bohm

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Re: The Credit Check Superthread- Merged Topics
« Reply #62 on: August 27, 2004, 14:40:44 »
I also have a student load from my college which finnished Aug 20/04.  It wasnt a problem for me because I still got my job offer. I woulndt worry about it.  :cdn:

Offline Lost_Warrior

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Re: The Credit Check Superthread- Merged Topics
« Reply #63 on: August 27, 2004, 22:12:02 »
Dont worry about it.  I had a 15k student loan that was out of control.....  I still havnt paied a dime on it.  I also had a nice credit card debt which im in the process of paying (one thing at a time) and wasnt even asked about it.

When asked, I told them, but they never hasseled me over it.

THey just ask that kind of stuff so if you have vital info, you wont be swaded to sell the info to the enemy (those with big debts are pursuaded by $$ more than those with no debt)

Dont worry too much about it, unless you're trying to be some kind of spy or something....
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lfejoel25

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Re: The Credit Check Superthread- Merged Topics
« Reply #64 on: August 29, 2004, 01:22:09 »
hey man,

i just found out about this.  as long as it is still just a good debt, it's no problem.  if your bills are in collections, you have to start making payments on it before they'll let you in.  that's where i am currently.  i have to start paying on my debts before my application goes any further.  i don't have to pay it all back, just start making payments.


chesapeake

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Re: The Credit Check Superthread- Merged Topics
« Reply #65 on: September 12, 2004, 11:17:29 »
Why would the forces require to preform a credit check?  Im  currently having financial difficulties and bankruptcy my be my final resort?

Offline Inch

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Re: The Credit Check Superthread- Merged Topics
« Reply #66 on: September 12, 2004, 11:38:32 »
This has been covered in other threads, searchy searchy.

It's to make sure you're not in financial trouble, if you are you're considered an adminstrative burden and you'll never be hired. Guys have been released from the CF for getting into financial troubles.
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Offline Inch

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Re: The Credit Check Superthread- Merged Topics
« Reply #67 on: September 12, 2004, 11:53:45 »
I've noticed a few questions about the reasoning for the credit check, this is the CFAO relating to the subject.

http://www.dnd.ca/admfincs/subjects/cfao/019-04_e.asp

In short, if you are defaulting on your debt, you're not going to get hired, if you're in and you're defaulting on a debt and counselling has not made a difference, you can be released. So, don't live beyond your means, it has career implications and good luck getting another government job if you've been released with disgrace from Her Majesty's Canadian Armed Forces.

You sir are a moron!
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Offline CJ

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Re: The Credit Check Superthread- Merged Topics
« Reply #68 on: September 12, 2004, 16:26:13 »
Just to further drive home the importance of looking over those credit reports...

It's a nasty surprise to be told that your app is delayed because of some little payments.

When my ex-bf went reg force, he got the results of his credit check from the recruiting centre and found that there were some items there that he didn't even realize he had. Unpaid bills that his former roommate racked up because he had forgotten to take it out from under his name... And some cable box that Rogers had charged him for not returning when he actually HAD returned it...

If he'd known these beforehand, it would have saved him some grief at the CFRC and he would have been in the know about those bills that he never received because he had moved... Heh... it also shows that you should always double-check that your mailing address has either been changed with everyone when you move and that all liability of a former residence has been COMPLETELY rescinded...

For those who have student loans through the govt, don't go for interest relief - or if you do at least know that come the end of your extra six month interest free period your account gets handed over to a collections agency. The little things they DON'T tell you...  :rage:

MPwannabee

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Re: The Credit Check Superthread- Merged Topics
« Reply #69 on: September 23, 2004, 22:08:25 »
I have a friend that declared bankruptcy after he applied and still got in as an AVN Tech.  The recruiter said it was no problem.

Offline Garbageman

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Re: The Credit Check Superthread- Merged Topics
« Reply #70 on: September 24, 2004, 10:43:22 »
Mastercard has a promotion on right now that gives free online credit checks to the first 10,000 people.  It's through Trans Union, which is one of the two agencies (along with Equifax) that conduct credit reports in Canada.  This normally costs $15 to do online.

As a warning, I was at my bank yesterday, and I was informed that every time you run a credit check, it drops your "credit score" by 20 points.  So while it's still a good thing to do, I wouldn't exactly be writing to Equifax and Trans Union every week!

Here's the link:

 http://www.mastercard.com/canada/education/credit/
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Offline CJ

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Re: The Credit Check Superthread- Merged Topics
« Reply #71 on: September 24, 2004, 20:41:36 »
As a warning, I was at my bank yesterday, and I was informed that every time you run a credit check, it drops your "credit score" by 20 points.

Yikes! Good to know. Thanks for the tip

Offline Garbageman

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Re: The Credit Check Superthread- Merged Topics
« Reply #72 on: September 24, 2004, 23:26:53 »
A friend of mine just tried the credit report offer, and it looks like all 10,000 have been used already.  Man that was fast - they just launched the promotion on the 20th!

You can still check your credit online, but it'll cost you.  If you write via snail mail to Equifax and Trans Union it's still free.

Equifax:
http://www.equifax.com/EFX_Canada/

Trans Union:
http://www.tuc.ca/TUCorp/home.asp
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Offline Griswald, DME

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Re: The Credit Check Superthread- Merged Topics
« Reply #73 on: October 03, 2004, 00:27:17 »
I just put a complaint in about the recruitment process.   Not so much a complaint as letting them know my situation.   I can't get in until i do something about $9000 worth of debt incurred after i lost my job 5 years ago.   The problem is i don't make enough money to do anything about it, but would if i got in.   i think it'll be a real shame if i get denied because of a relatively small debt in the scheme of things.

You can't have debt when you join?  I agree with you, 9K is nothing really compared to the debtload most families have (not including mortgage here).  I have almost that in a personal line of credit from my tuition and cost of living for 10 months on my ELTT course.

lfejoel25

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Re: The Credit Check Superthread- Merged Topics
« Reply #74 on: October 03, 2004, 01:29:51 »
griswald
you can have debts, but you can't have things in collections or default.
i can get in if i make payments and show proof of a payment arrangement, but i don't make a lot of money, and some of these creditors are EXTREMELY hard to deal with.  i'm still trying to figure out exactly how i'm going to deal with the situation.  it's turning out to be harder than i thought.  i can't go to a bank because of my credit history, credit counsellors want too much money, and the creditors themselves are being very unflexible.