Discussion in 'Army Reserve' started by msr, Aug 7, 2006.

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  1. msr

    msr LE

    Dear All,

    Seeking advice for a fellow arrser:

    I am currently a student nurse, and I have a level of student debt I am struggling to manage. I know my debt is not so bad that I couldnt deal with it if I left uni, but i really dont want to do this unless I really have to.

    My question is, if i declared myself bankrupt in order to be able to complete my course, would this affect my TA career? Are we talking discharge?

    Also, if I declared myself bankrupt would this effect my ability to go on ops during the period before the bankrupcy is discharged?

  2. Sorry if this is of no use, but my university offers a financial support service, and if you approach them they can help sort out student dept, by giving advice and can also arrange payments, allowences etc!
    I no not really an answer to the question about the TA, but I really hope that he/she can get the help and support they need, living on a nursing bursery/loan I no is very hard!

    Sorry if above is not relevent!
  3. To apply for bankruptcy you'll need to scrape together £500. You could consider an Individual Voluntary Arrangement where, through an Insolvency Practitioner you agree to pay a certain amount of pence in the pound of debt owed over a number of years. Could you not get some extra work?
  4. Student loans are not cleared by bankcruptcy .Its not an easy way out if
    you can pay your debts off you should .Shouldnt effect your liability for
    ops unless you have some sort of high security clearence I guess.Probably
    give you problems if you want a commision though
  5. Some sort of hardship fund I believe? Knew a couple of people who survived on top ups from them.

    A friend of mine went bankrupt recently, however this was for big money, and was combined with a long period of depression. He got the ball rolling by visiting his local Citzens Advice Bureau who certainly pointed him in the right direction.
  6. Yes, as a student nurse, even though you are bound by the working time directive, you are able to seek other employment or casual work, I am also a student nurse in the TA but I have a casual (bank) job with a private health company!
    Your NHS trust should have a bank Health Care system, depending on your trust will depend on when you can apply for HCA work.
    Bank work will also pay you more.
    If you are doing the Bsc (hons) in nursing you will be relying on a loan, if this is the case ask to be droped down to and Bsc or the DipHe that way you will be entitled to and NHS bursery.
  7. First things first. Speak to your SU, I know our SU (being an SU exec) has a student hardship fund that is available to all for British students in times of need.

    You should just need to take your bank statements and stuff, and explain why you cannot get a job during the summer.

    Good-luck (and try not to party so hard next year!)
  8. definatly the SU/student services department is the first port of call as Amazing_lobster said!
    Speak to your head of faculty too!
  9. Try seeking alternate sources of income ? ?
  10. To answer MSR's question, bankruptcy is IIRC an automatic discharge for Officers, I seem to recall it also bars you from applying too. I'm not totally up on these matters, but I know the organisation I work for( ex Govt) still regards bankruptcy as a big no no, it bars promotion and removes you from any position near money and accounts for at least 5 years.
  11. If you're a squaddie - No , or possibly OC's discretion.

    If you're an Officer - Yes. It is in QR's as I remember.
  12. Auld-Yin

    Auld-Yin LE Reviewer Book Reviewer Reviews Editor

    Going into a state of bankruptcy is a very serious matter, not to be taken lightly. Please make sure you get some professional advice as soon as you can.

    On the other hand, can a MOD on Arrse continue in their role whilst being in the state of bankruptcy :lol: :lol: :twisted:

    p.s. I fecking hope so 'cos it shows you is human
  13. msr

    msr LE


    You'll have to trust me on this:

    1) I am not currently a student (graduated in 1996).
    2) I have never, ever wanted to be a nurse (although I may have dressed as one once...).
    3) I am not personally facing bankruptcy, although I will admit to having an overdraft until my outstanding invoices are paid - and the TA gives me last year's bounty.
    4) This is a genuine 'on behalf of a fellow arrser' request, which was made to me by PM.

  14. Auld-Yin

    Auld-Yin LE Reviewer Book Reviewer Reviews Editor

    Bugger - there was me thinking we had found a MOD with human qualities :wink:

    The one point to make to your correspondent that if he/she does have to go down the bankruptcy route, then it is not the end of the world. Life is not a bowl of cherries and in some cases the rough can be quite rough indeed, but survivable.
  15. msr

    Go on then. I am a chartered accountant by profession (though no longer by trade). I can discuss the civvy aspects and other options with your "Friend".
    I also screwed my own finances when i left my last wonderful, kind girlfriend and so know some of the alternative ways out.

    excluding prostitution (where I earned nothing)

    As they are a fellow arrser, they can have some free advice, as long as no-one tells other chartered accountants, they will hunt me down