Hi guys and girls

Im currently going through my application and i should be going to selection in aug after being defered for a broken thumb. I wanted to know how i would stand if i was bankrupt between now and then. Im 29 and going through a split with my wife and i think im going to get screwed debt wise. I know the army dont like you to have any financial problems and im stuck now because i will either have a nice loan (thanks wife) to pay or have to bankrupt it, but i dont want to screw my chances with the army as im no spring chicken.

Thanks for your feedback.
Having financial difficulties can have a negative impact on your application. Such difficulties could lead your professionalism being jepardised in the name of desperation and greed.

What I would do is try to get yourself a free lawyer (obviously there are certain ones out there) to help settle x,y and z. Also, try opening a savings account of some sort to put some money in.. does your begwife get any of that if it's like froze for a while?

Anyway, all the best mate and I can only begin to understand how frustrating it may be. You can take out loans etc while you're in though.
Its hard, its a big loan about £20'000 which on a good rate would be about £350 a month, i was thinking that i could pay off a chunk of it back each time i come back from duty. If your away for 6 months and not spending your wages then thats a few grand i could shave off, but i need to get in first. On the same token if i bankrupted it i would have nothing to pay out but will the army take a stern approuch and say no.

Its a toughy!! :x
Mate, there are alternatives to bankruptcy, including what is known as an IVA (Insolvency Voluntary Agreement). It doesn't really count against you that much for SC purposes, and the police don't exxclude applicants who are gone through that process.

Best to speak to citizens advice. The only outfit I have heard of it Grant Thornton, perhaps worth Googling?
If your still on good terms with the old lady, get a contract saying you pass on the debts to her for until you can gladly pay your debts when you can, i.e have a steady reliable income
I was thinking that an IVA, i will have to look into it. im still on good terms with her (bedded her last week, high five, big mistake thou), but she can;t afford to bail me out. I think what i should do is get think about this iva thing and speak to my recuiter to see if that will effect my application.

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