advise about debts

Discussion in 'Join the Army - Regular Soldier Recruitment' started by mnic, Nov 4, 2011.

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  1. i know its probably been asked a few times but i really need a clear answer, im looking at trying out for the paras and want to know something

    i spoke to the recruiter on the phone the other day and asked him about the security clearance and he told me the main pieces no mention about debts just if i have been bankrupt, which i havent.

    i only have about 3.5-4k worth of debts which im not paying any off because they were loans taken out 6 years ago and i was missold ppi so i am claiming them back and trying to write them off, all in all i probably owe around 600 thats my fault,

    i also got a ccj over 6 years ago that i paid but was showing up on a credit check untill may this year, because its been over 6 years that shouldn't be relevant now. is there a percentage of debt allowed ?

    so basically if i dont disclose it will any of it be picked it? i kno a few people that are in the army that have had debt but i want to make sure before i apply , if it does show i will probably sort out a debt consolidation , pay it of then claim it back or write the rest off if the courts get there finger out, cheers any info would be great
  2. It ask's in the application form, Do you have any debts that if joined and enlisted would be hard or not be able to pay back so if you can pay the loan's back then no you dont have to report it.
  3. so i dont have to tell them i just sort out repayment when ive passed?
  4. In other words, you signed a contract without bothering to read it? Your CQMS is going to ******* love you.
  5. i was 18 i walked into the bank and asked for a grand they gave me it that day and also gave me a credit card for 1.5k lol now you no what i did with it at that age lol a year later they gave me 4K i payed alot back but stopped paying when i was told about ppi, im 25 now so its been years it shouldnt even be relevent
  6. You're right. You're going to make many storemen very happy when if you ever get to a working unit.
  7. honestly this is all that is worrying me but if i dont have to tell them about it and just arrange payments when im enlisted i will go into the office tomorow:)
  8. Judging by his posts, his signature consists of an X scrawled with a thumbnail dipped in tar.
  9. seriously guys will they find out during my application or can i just tick the box to say no i dont have debts coming out my ears?
  10. You must be absolutely honest in your application, if you conceal information you will be found out and the consequences will be severe.
  11. this is what im asking, will they findout about my debts if i dont tell them, so basically if i go for the paras will i have to fill in an mod 1109 form for security clearance and will it show up my debts or do they get a company to check that in the infantry reg

    if i get enlisted and they say to me' now you have to sort a debt consolidation out i will do i just dont want to do it will im not in the army then fail you understand?
  12. £285 per month on debt repayments is the ceiling, anything more and your application will not proceed..simples!
  13. Did you reclaim the PPI + the statutory 8% interest? If you have any problems see; Payment Protection Insurance (PPI)

    That is deleted from CCJs, court orders & fines - Search yourself and others - Trust Online the national register after six years.
  14. but what if your not paying them?

    im willing to set up repayment when im in the army but not while im in the process, a consolidation i would pay 100 a month tops anyway so if they let me sort that out when im in i will
  15. Apart from the recruitment stuff, you're going to be a much happier bunny if you know you're in the process of clearing these debts off. Suggest you speak to your bank, tell them the score, and see if you can get a loan at a sensible rate of interest to consolidate the others. The worst they can do is say "no".

    Did this myself a few years ago and now my only debt's my mortgage.
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