Going Bankrupt in the army

Discussion in 'Army Pay, Claims & JPA' started by pcguru, Mar 5, 2010.

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  1. I am in quite a bit of debt, and am considering going bankrupt. Please can people give me as much info on going bankrupt while serving in the army. i know that you have to get permission from the CO but what happens then???????? what happens if he says no????? what happens if he says yes?????????
  2. Cnuts like you should have you pay docked til you've paid your fcuking debts off!

    You got into the this much debt, you should pay for it! After all, you get fed and housed so no worries there!
  3. How much are you in the hole for?
  4. I'm going to say that this could end up as a world of hurt.
    Are you sure that this is the right way to go? Have you approached the RAO and asked for financial help and/ or advice? I think you'll find it wil be him or her that will administer this.
  5. Either you have no debt (and I include mortgage in this), or you're a cnut of the highest order!


    P.S. To the OP, PM me for more advice, bankruptcy is not the only option. Everyone is in debt so just chill out for now!

    Edited to add: Having seen the below, I'm inclined to think you aren't a cnut, you just came across as one...
  6. In fairness to my rant above, look at an IVA before bankruptcy and be a man an pay for what you've bought!
  7. edited because sticky has said what I was going to say anyway. More or less. An IVA is a good move.
  8. Things possibly have changed from when I when I joined 22 years ago, but they might not have...

    Prior to starting basic, I owed the paltry sum of £35 on my Barclaycard. As I was going to get paid weekly and not very much whilst in basic (back then £35 was like £100 in today's money), I phoned up those nice people at Barclays and explained that I had just joined up and wouldn't be able to make a payment for 8 weeks, but then I would pay the full sum off. No problem said the nice lady.

    Next morning, "Pte Naive, front and centre!" Yes, the nice people at Barclays had got straight off the phone to me and straight on the phone to the Army. I was hauled over coals, told that the debt would be paid direct from my wages and for the rest of basic I was paid £10 a week, what they deemed was enough to keep me supplied with the essentials (boot polish, yellow dusters, windolene, etc). Despite being in a fairly fast-track trade and getting consistently good CRs, I never got promotion and was told after I left that the record of that debt stayed with me during the whole of my career. Think very carefully before you do anything, is there absolutely no way you can make payments? The Forces have changed in a lot of ways since I was in, somehow I don't think the Army's attitude to debt is one of them.

    LordVanHarley, for the OP to even consider bankruptcy, he will have debts of £25K or more.
  9. Hmmmm... let me think... who else is to fcuking blame.........

    Nope can't think of anyone else...
  10. In the army? Can't live within his guaranteed wage every month? Highly likely it is his fault, same as a load of other personal bankruptcies, people who want the lastest TV/car/computer without any thought of how to pay it back.
  11. Have you tried giving the C.A.B a go they are really helpfull and everything is in confidence, better than the C.O finding about it, remember a big no no is bringing the reg into disrepute. What else have you got to lose.
  12. Be fair Sticky and Stacker, his missus may have gone mad with the credit cards and then fucked off.
  13. Back in the old days, bank managers would write to COs and get potential problems nipped in the bud before they escalated, now in modern times, you are on your own, and can dig some pretty deep holes for yourself.

    I can remember asking my troop Sgt about where my money was, he said, I dunno, ask in the pay office, I had always been paid over the table, almost 6 months at 11 Sigs, and another year at 8 Sigs, so when I went to 30 Sigs in Blandford, I waited patiently for when pay day was, a month or so passed, right pay office.

    Pay Master, whats yer number, I answered, you have nearly two thousand ******* pounds here, get yourself a bank account today and the transfer will be made.

    Taxi to Lloyds acc number in hand, job done, I felt all grown up and everything.

    Oh shit, sorry, you're up to your eyeballs in debt, goodluck with it. Thanks for triggering a memory.
  14. If a bloke is stupid enough to have joint credit cards (especially up to 25k credit) then its definately his fault.