Author Topic: Credit Check Superthread- Merged Topics  (Read 223355 times)

0 Members and 1 Guest are viewing this topic.

newwest77

  • Guest
Re: The Credit Check Superthread- Merged Topics
« Reply #75 on: October 03, 2004, 21:46:56 »
I am guessing that having outstanding debt classifies you as a security risk. Well I don't think that you want to go bankrupt, in which case I doubt that they would accept you until you were discharged anyway. I would assume that your creditor would choose to make a settlement vs. you go bankrupt and they might less.

Offline Freight

  • Member
  • ****
  • 620
  • Rate Post
  • Posts: 221
Re: The Credit Check Superthread- Merged Topics
« Reply #76 on: October 04, 2004, 11:35:48 »
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.
Look for a non profit credit counsellor.  They will not charge you more than $50 a month to negotiate and manage your payment plan.
Good luck,
Greg
Life is not a dress rehearsal. Decide, then do.

Offline Morpheus32

  • Jr. Member
  • ***
  • 50
  • Rate Post
  • Posts: 62
Re: The Credit Check Superthread- Merged Topics
« Reply #77 on: October 05, 2004, 11:22:31 »
The concern is a person who joins the CF with uncontrolled debt and the CF spends its admin time sorting out your problems.  If you have debt, it is not a problem, you have to have it controlled and a plan to pay it off.  If you don't they will send you away until you have a plan.  Simple as that.  I have seen applicants whose parents assume the debt and have a payment plan set up with the parents.  I have also seen people who have made arrangements with the bank for a very aggressive payment schedule.  It is up to you to develop a plan.

Jeff

Offline Goober

  • Full Member
  • *****
  • 60
  • Rate Post
  • Posts: 403
Re: The Credit Check Superthread- Merged Topics
« Reply #78 on: October 15, 2004, 00:40:30 »
I can only say what I've personally experienced, so I'll write it down here.

The CF did a credit check on me, and it came back OK. The recruiting center told me this, plus my equifax report shows DND was in there. So my debt didn't cause them any worry, and they approved me so far (I'm still waiting on medical).

I have over $20,000 in unpaid debt. Four $5165.00 (plus interest) student loans, all defaulted. One $1000 credit card, defaulted, one $500 credit card, defaulted, and many many many (i have my credit report) late payments on rent, phone bills, internet bills etc....

I've had my own buisiness for 3 years, and it nearly bankrupted me. However, I told all of this in my interview, I was completely honest and candid, plus, before my interview I called most of my creditors, and told them I am going to start to pay off my debt. My $20,000 student loan debt is being handled by an extremely nice lady in the NS govt, collections, who said I don't have to worry about it and can start paying on it when I get in the CF. (I'm lucky that shes nice, alot of people in collections aren't).

My interviewer said they are going to have to check my credit, and I supplied the name of the lady in the NS govt handling my student loan. I can only assume they contacted her to verify my arrangement.

I have all of this debt, and the CF still approved me (thus far, still awaiting medical) because I made arrangements to pay it off.

Thats my personal experience.

lfejoel25

  • Guest
Re: The Credit Check Superthread- Merged Topics
« Reply #79 on: November 17, 2004, 21:07:49 »
Just to let everybody know,  here's what happenned in the end. 

I applied around May.
Did the Aptitude and physical in June.
Did the medical and interview in July, that's when i was told i needed to clean up my debts.
Took the letters for my debts in on November 3rd, and was told my app was all set to go, they were just waiting on my medical.  (i don't even think my app was red flaged for credit after all!!!)
Went in today (nov17), and the medical came back, so  i'm merit listed, just waiting for the selection board to sit.
I'll let you all know when i get a call.







Offline Goober

  • Full Member
  • *****
  • 60
  • Rate Post
  • Posts: 403
Re: The Credit Check Superthread- Merged Topics
« Reply #80 on: November 18, 2004, 06:36:25 »
Just be honest to the recruiters, and make arrangements with all your creditors, and you should be fine. The CF doesn't want creditors calling them looking for you.

There are a few threads with some good info, my personal experience is in this thread http://army.ca/forums/index.php/topic,21122.0.html

buff1

  • Guest
Re: The Credit Check Superthread- Merged Topics
« Reply #81 on: December 15, 2004, 11:48:28 »
Hello everyone.  I wrote the CFAT 2 days ago and passed.  I am in the process of gathering the required information.  Also, I am in bankruptcy.  Yesterday I had to meet with my trustee and I asked her how this bankruptcy would affect my application.  I told her I heard it could stop my entry into the Forces.  What she told me was that she found that odd because she has had people go to her on the advice of the recruiting center to file an application for bankruptcy to clear their debt so that they could enter the Forces with a clean slate.

Offline putz

  • Member
  • ****
  • 2,980
  • Rate Post
  • Posts: 164
Re: The Credit Check Superthread- Merged Topics
« Reply #82 on: December 15, 2004, 12:40:08 »
I was in the same boat too.  If you are an undischarged bankrupt it is looked upon as a legal obligation and will stop your application until you provide proof of your discharge.  Also, if you don't tell recruiting they will find oput anyway when theydo your enhanced reliabilty check.  All I had to do was get my trustee to write a letter stating I was discharged and teh date of my discharge from bankruptcy and it was all okay.  Get this letter anyway because sometimes it will take awhile for your credit bureau to get updated.

buff1

  • Guest
Re: The Credit Check Superthread- Merged Topics
« Reply #83 on: December 15, 2004, 12:59:48 »
I am not discharged yet though.  I am hoping that at the very least, my application will be put on hold until I get the discharge. 

buff1

  • Guest
Re: The Credit Check Superthread- Merged Topics
« Reply #84 on: December 17, 2004, 13:44:34 »
I spoke to the recruiting office and they said it could take up to one year for the whole application process so....they said the bankruptcy may not even have any effect on my application what-so-ever!

eap

  • Guest
Re: The Credit Check Superthread- Merged Topics
« Reply #85 on: March 18, 2005, 00:33:23 »
i just talked to recruiting and they told me, i have just been discharged from bankruptcy myself, that it brought my mp score in reliability from l.5 to 0.

drive2live

  • Guest
Re: The Credit Check Superthread- Merged Topics
« Reply #86 on: April 26, 2005, 15:26:50 »
 my friend is currently in the army he has loans as well as credit cards phone bills cable bills you name it he's got it and most of them are at collection, when he applied to the army about 4 years ago the Recruiter asked him about his money situation, and he told him that he could not afford to pay his bills , and that was one of his reasons for joining the army, so he could pay off his bills,and straighten out his life. He is a engineer and has been in gagetown for about 3 years/heading to afgan for a six month tour in august. so for people that are worried about there credit dont be , just be honest- dont lie, its what i did and i was put on the merit list in mar/05

Offline kincanucks

  • Army.ca Veteran
  • *****
  • 13,885
  • Rate Post
  • Posts: 3,559
    • ARRSE
Re: The Credit Check Superthread- Merged Topics
« Reply #87 on: May 01, 2005, 01:14:10 »
my friend is currently in the army he HAS loans as well as credit cards phone bills cable bills you name it he's got it and most of them are at collection

VS

one of his reasons for joining the army, so he could pay off his bills,and straighten out his life

Not doing too well at that is he? Or have you confused your tenses?
- Everyone is entitled to be stupid, but some abuse the privilege.
- If we are the only intelligent life in the universe, at least there's a finite number of idiots.
- Just when you realize life's a *****, it has puppies.

drive2live

  • Guest
Re: The Credit Check Superthread- Merged Topics
« Reply #88 on: May 01, 2005, 10:33:28 »
that was when he joined 4 years ago, he just bought a new house in gagetown , he has a 2004 GM gt pickup. a 2003 cbr 600 so i would say he is doing a pretty good job.

Offline kincanucks

  • Army.ca Veteran
  • *****
  • 13,885
  • Rate Post
  • Posts: 3,559
    • ARRSE
Re: The Credit Check Superthread- Merged Topics
« Reply #89 on: May 01, 2005, 12:17:05 »
that was when he joined 4 years ago, he just bought a new house in gagetown , he has a 2004 GM gt pickup. a 2003 cbr 600 so i would say he is doing a pretty good job.

Okay, so allow me rephrase your original post so that it is a little clearer:

When my friend applied to the army about four years ago, the Recruiter asked him about his money situation and he told him that he could not afford to pay his bills and that was one of his reasons for joining the army, so he could pay off his bills and straighten out his life.  He had loans as well as credit cards, phone bills and cable bills, you name it he had it and most of them were at collection.  Currently he is an engineer and has been in Gagetown for about three years and is on his way to Afghanistan for a six month tour in August.  So for people that are worried about their credit, don't be.  Just be honest and don't lie.  That is what I did and I was put on the merit list in Mar/05.

I would also like to add some further clarification so that others who may read this will not get the wrong idea.  If you have substantial debt load that has gone to collection and you have not made a concerted effort to address that debt load or if you have declared bankruptcy and that bankruptcy has not been discharged, you will not satisfy the eligibility requirement of having an approved Enhanced Reliability Check and you will not be merit listed or enrolled into the CF until you have done so.  Addressing your debt load can be as simple as contacting the creditors or collection agencies and making some arrangements to begin the repayments of those debts.  Some people will now say that they need to join the CF so that they will have a job to pay off their debts and my response is that the CF is not a social services agency and we do not want you if you are not reliable.  Cheers.

Note: he just bought a new house in gagetown , he has a 2004 GM gt pickup. a 2003 cbr 600 so i would say he is doing a pretty good job..  I hope your friend is not heading down a slippery slope again.
- Everyone is entitled to be stupid, but some abuse the privilege.
- If we are the only intelligent life in the universe, at least there's a finite number of idiots.
- Just when you realize life's a *****, it has puppies.

drive2live

  • Guest
Re: The Credit Check Superthread- Merged Topics
« Reply #90 on: May 01, 2005, 13:20:43 »
i do agree with that for sure, i think the army has helped him learn responsibility. i am going to the army to accomplish something in life and to help the world in the best way i could think of. I have live on my own sense i was 16, I graduated high school and i also have 2 degrees, so i feel i am very responsible. can i ask if you are in the army? if so what do you do, i had read in other forms that you give great advice so keep up the good work,

Offline the 48th regulator

    A mans gotta eat.

  • Army.ca Subscriber
  • Army.ca Fixture
  • *
  • 47,350
  • Rate Post
  • Posts: 7,882
  • Emancipate yourself from mental slavery.
    • Green Veterans Canada
Re: The Credit Check Superthread- Merged Topics
« Reply #91 on: May 01, 2005, 14:49:18 »
i do agree with that for sure, i think the army has helped him learn responsibility. i am going to the army to accomplish something in life and to help the world in the best way i could think of. I have live on my own sense i was 16, I graduated high school and i also have 2 degrees, so i feel i am very responsible. can i ask if you are in the army? if so what do you do, i had read in other forms that you give great advice so keep up the good work,

Hi

Don't need to break from the thread, two degrees in what?  Reading some of your posts , I find that hard to believe.

Honesty mate, is the key.  Otherwise you will find people, especially on this board, will refuse to interact with you.

I also suggest that you may want to add more to your profile.  Give us a bit of a background who you are.

dileas

tess



I know that I’m not perfect and that I don’t claim to be, so before you point your fingers make sure your hands are clean.

aesop081

  • Guest
Re: The Credit Check Superthread- Merged Topics
« Reply #92 on: May 01, 2005, 15:14:31 »

Don't need to break from the thread, two degrees in what?   Reading some of your posts , I find that hard to believe.


English major...... ;D

drive2live

  • Guest
Re: The Credit Check Superthread- Merged Topics
« Reply #93 on: May 01, 2005, 15:35:17 »
I just entered this site for some info, I do not need to be criticized, I find some people are just here to criticize and are not using this site for its proper perpose, don't just read the forums to find things to nag and complain about use them for the right reasons, my back ground is simple, graduated 2001, went to college- got a bachelor of arts.-got a teacher's aid diploma- after that i have just been working, in Feb i applied to the army-April-18 got merit listed, now I'm just waiting,

p.s remember what your mothers use to say "if you don't have anything nice to say don't say anything at all" shouldn't have to say that we are all adults. ::)

Offline Island Ryhno

  • Sr. Member
  • *****
  • -50
  • Rate Post
  • Posts: 657
  • "Tough times go away, Tough people do not"
Re: The Credit Check Superthread- Merged Topics
« Reply #94 on: May 01, 2005, 15:45:46 »
I think what everyone is saying is do not exaggerate! You're claiming to have two degrees, one of which is a B.A. and another as a TA. We are supposing that you did your degrees in an english speaking environment. Having read only the two posts you've made here, it tells that your spelling and grammar and not quite up to snuff. I may be wrong, but from someone who has been in post secondary education since the beginning of time (or so it seems) you should or would need to be able to spell even the most rudimentary of words. Thus far you have not qualified your statement.
"A young man who does not have what it takes to perform military service is not likely to have what it takes to make a living."
-John F. Kennedy (JFK)

Offline recceguy

    A Usual Suspect.

  • At the core of liberalism is the spoiled child – miserable, as all spoiled children are, unsatisfied, demanding, ill-disciplined, despotic and useless. Liberalism is a philosophy of sniveling brats. -P.J. O’Rouke-
  • Directing Staff
  • Army.ca Myth
  • *
  • 242,407
  • Rate Post
  • Posts: 17,518
  • doddering docent to the museum of misanthropy
    • Army.ca
Re: The Credit Check Superthread- Merged Topics
« Reply #95 on: May 01, 2005, 15:50:36 »
OK, we'll call it quits here and now. The point has been made on both sides. The original post was answered by kincanucks, that put it in perspective from the Recruiter's point of view. No need to carry this on further. Drive2live, if you feel this thread needs to be reopened, you can PM me.
“I am a Canadian, free to speak without fear, free to worship in my own way, free to stand for what I think right, free to oppose what I believe wrong, or free to choose those who shall govern my country. This heritage of freedom I pledge to uphold for myself and all mankind.”

John G. Diefenbaker

Offline 0007

  • Banned
  • Guest
  • *
  • 0
  • Rate Post
  • Posts: 20
Re: The Credit Check Superthread- Merged Topics
« Reply #96 on: March 04, 2006, 23:48:03 »
I have read a few posts where recruiters have asked for proof of how potential recruits were handling their student debts. The first interview I had, this was barely raised; the interviewer asked if I had any problems paying and I said no - and that was it! Does this question always come up, and was asking for proof a new thing? I am having difficulties handling a 40,000 student debt and I don't think I would have the problem with a career in the military - seems like a catch-22. What is the story on this? Is proof of student debt payment now a regular thing? What are they looking for, Boy Scouts and Sunday School teachers?
If you are doing business with a religious son-of-a-*****, get it in writing! His word doesn't mean crap! Not with the good lord telling how to frig you on the deal!
William S Burroughs

Offline Wookilar

  • Sr. Member
  • *****
  • 16,095
  • Rate Post
  • Posts: 760
  • Insert deep thought.....
Re: The Credit Check Superthread- Merged Topics
« Reply #97 on: March 04, 2006, 23:56:53 »
It used to be a major part of the application process. It's not so much a problem now though. Reason for the debt question is basically, they need to know if you can pay your debts with the limited pay that you will be getting over the first couple of years. That is not so much of a problem since the SCONDVA hearings and we got some much needed (and fairly massive) pay raises about '96 (or so). Back when, a 1st year Private only made 14k, Pvt 1 = 19k, Pvt 2 = 22k, Pvt 3 = 28k (or something like that, I was on the pay freeze then so I didn't really see any of that).
Now, Pvt fresh out of basic makes, what, 24k first year? Cpl basic sits at around 44k.
Bottom line is, the CF doesn't want you to be an "administrative burden" right from the very start. As long as you can prove that you can pay your existing debts in the pay scale you will be earning (as well as normal living expenses), you will not have a problem. Good Luck.
Why are there swamps on top of hills?

Offline 0007

  • Banned
  • Guest
  • *
  • 0
  • Rate Post
  • Posts: 20
Re: The Credit Check Superthread- Merged Topics
« Reply #98 on: March 05, 2006, 00:09:03 »
Thanks for the quick reply! I feel relieved to hear that. The last thing I need is another set back. I think the pay for DEO should be more than adequate to pay off my debts, I was more worried about the powers that be looking into my payment history and seeing that it was off and on payments since I graduated (which was ok with Quebec gov't). Thanks again. :salute:
If you are doing business with a religious son-of-a-*****, get it in writing! His word doesn't mean crap! Not with the good lord telling how to frig you on the deal!
William S Burroughs

Offline kincanucks

  • Army.ca Veteran
  • *****
  • 13,885
  • Rate Post
  • Posts: 3,559
    • ARRSE
Re: The Credit Check Superthread- Merged Topics
« Reply #99 on: March 05, 2006, 01:09:39 »
If your debt has reached collections and comes up as a credit hit during the background check then it becomes a very serious issue that you will have to provide proof that you are addressing.

seems like a catch-22. What is the story on this? Is proof of student debt payment now a regular thing? What are they looking for, Boy Scouts and Sunday School teachers?

I love hearing this from an applicant "I can't pay my debts unless you give me a job"  Too bad because the CF is not Social Services and people who can't pay their debts or make a reasonable effort to do so are unreliable and unreliable people are a security concern.  No we don't want Boy Scouts and Sunday School teachers but we certainly don't want unreliable people.  If there is a credit hit and you are satisfactorily addressing your debt load, either through credit assistance or by paying it off regularly, then there will be no problem.  If there is no credit hit and the interviewer is satisfied with your responses on the financial part of the interview there will be no problem.  Good luck
- Everyone is entitled to be stupid, but some abuse the privilege.
- If we are the only intelligent life in the universe, at least there's a finite number of idiots.
- Just when you realize life's a *****, it has puppies.