Mobilization and Debt

#1
Afternoon all. Just got a bit of a question regarding debt. I am due to be mobilised soon and due to the current shitty financial climate, I've had a rough time of it on Civvy street and run up a little bit of debt. Its all getting gradually paid off now, but Im just wondering if Im gonna get to Chilwell and walk headlong into issues...
 
#3
Yeah, I only owe about £1500... I don't know if that is considered bad debt or not. I should probably speak to my platoon Sergeant, but I don't want to get in a shit load of trouble when its gradually sorting itself out.
 
#5
Nah, just £1500, maybe £1800 at a stretch... I wasn't really worrying about it until one of the other guys in my platoon said they were going to check our debt. Been worried about it since. I was worried that it was going to get me booted out of pre-deployment...
 
#8
You wont be asked. Use your time on tour to pay it off and everyone's a winner.

The majority of people have debt these days, I assume its on a credit card or somthing and not owed to a loan shark or similar?
 
#9
With apologies to Crocodile Dundee;

That's not a debt........THIS is a debt!
 
#10
You need to make provision to pay the debt off while you are away. If you are paying stuff off by direct debit, fine, as all that will happen is that your bank balance will increase over time as your expenses reduce and you will be saving more.

However, if you need to be writing cheques to pay credit card bills, don't bet on the postal service in or out of theatre being robust enough to ensure that your creditors will get the payments. Same thing with internet banking - don't assume you will get time online. You might, but don't take it for granted. Same thing with telephone banking.

Do you have a partner? Can they access your account and pay the bills for you? (This calls for a bit of trust here!).

Just try and work out in advance exactly how you are going to pay down this debt, put any arrangements in place before you deploy and you should be fine.

It doesn't go down well if you turn round after 3 months in theatre and say "I have to go home because the bailiffs/council/bank/loan sharks are going to repossess the house/car/baby carriage cos I havent paid my mortgage/credit card etc.
 
#11
It way be wise, once you get to Chilwell, to let your creditor/s know that you will not be contactable easily by phone or mail while you are deployed. On the other hand, if they happen to be the same company as any of my creditors, it might be worth suggesting that if they need to talk to you in the meantime, they pop to see you in person, in Bastion or wherever. I have a nice high vis jacket that can borrow to wear in place of body armour.
 

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