Army and Debt

[Hayes]

Hi All,

First I guess I should introduce myself. My name is Adam, I'm 21 and I come from Nottingham. Wow that was almost like being on Blind Date...

Anyway back to reality, I've been toying with the idea of joing the Army, the Grenadier Guards in particular. The big problem I have at the moment is that in my youth, i.e when I was 18 and away from home for the first time, I decided to spend an awful lot of money I didn't have...

I've since come to my senses, chopped up the credit cards, chucked out the money grabing girlfriend and have a great job, earning half decent money. The job itsellf just isn't enough and I really want to do something with a bit more meaning and a bit more challenge.

It would appear that the five grand of debt has other plans. I've got a nice little loan to cover it all and the payments are quite small. I could easily afford to meet the repayments whilst on training pay.

The actual question, and I thank you for your patience, is... do I have to tell the army about the debt? In a brief discussion the figure of 2 grand was floated as the total amount of debt acceptable. If I don't tell them will they find out. I'm assuming they do all sorts of credit checks etc.

Your advice would be greatly appreciated.

Adam

[Worthers Original]

Don't know how much they look into your debts but is it worth it to start lying at this stage in your career? If you feel you can cover the repayments on what you'll be earning without wasting a load of money down the pub once you're allowed out of the ATR (nigh on impossible from my experience) then is it possible to offload the debt onto someone else? Get them to take the debt on in name and cover the repayments.

Failing that, join the TA, work and save for a year, pay off as much of the debt as possible then join up. You're only 20 so time is on your side and taking a mature, responsible attitude to your finances will be looked upon favourably by the recruiting staff.

I would say that option two is the best. Make your start in the Army a fresh one don't burden it with mistakes you've already made.

[Tab]

If I was you I would clear my debts up before I joined the Army, the last thing you need are warrants being served for non payment. While you are earning fairly good money make the extra effort and clear them up.

[redeye321]

I was also worried about this as I have around £2,500 worth of debt. When I had my interview at the AFCO I was asked about my debt and who my creditors were. My Sgt said it's just to make sure you don't have debts with people like loan sharks who may bribe you for equipment.

[mercury]

If that was the case any potential officers who have been through uni would be screwed

[Maverick00]

I would have thought they only have problems with people who have debts with high rates of interest and large amounts. Uni debts are different, they charge a very low rate of interest, are only very small repayments and you only pay them once you're earning a certain amount. If they didnt like you to have any debt after uni they would recruit very few graduates!

[Hayes]

First off, thanks to all those who have replied.

I've spent the last few weeks considering my options and I've decided there is no time like the present to get everything sorted out.

My parents have sorted out my loan , for which I am eternally grateful.

I have decided to apply for the Grenadier Guards. I'm just waiting on the dates for my BARB test.

Thanks again for pointing me in the right direction and I'll keep you updated.

Adam

[Tab]

Well I hope all goes well with you, now cut up that credit card for a while.