bad debt

Discussion in 'Joining Up - Royal Navy Recruiting' started by mick82, Aug 10, 2009.

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  1. Can anyone tell me if I could fail on my interview over bad debts , I have put all my finance details on my aplication form am just worried that during my interview when it comes up it could become a problem . I will be taking a pay cut from my civvy job to join up and I am wondering if this will **** me up .
  2. Could do.
  3. mick82,can you cover your debt on the RN salary,ie can you make your monthly payments,
  4. If your monthly outgoings are more than 50% of your income (RN salary) then you will have to wait until they are less than 50% before you can be accepted.
  5. Cheers drakey,you have also enlightened me, :wink:
  6. Am gonna get all incomings and outgoings down on paper before my interview , I live with my partner so all bills are shared but obvoiusly it boils down to can i manage my half of the bills . 1 question thou is it all outgoings cant go over 50% or just my bad debts not including cost of living bills like me house ? 50/50 doesnt sound realistic in this day and age does it ?
  7. it definatley doesn't, when I was living with my ex, I was paying out about 90% of my wages!
  8. Our guidance as careers advisors is that you should not be paying out more than 50 % of your initial take home pay on joining. You need to come up with a plan to cover your out-goings via other sources until your money goes up 26 weeks or completion of phase 2 training whichever is the sooner.


  9. So in my case if my girlfriend can cover the houshould bills untill my money goes up I could be ok ?
  10. Bravo the penny drops


  11. lol cheers 8)
  12. Do they check your credit history then?

  13. Nice pun :thumbright:
  14. Hope not :(
  15. Yes they do an Experian credit check during the security clearance check


  16. How bad would your credit have to be to be rejected?

    I'm presuming/hoping that a couple of hundred pounds worth of bank charges wouldn't be much to worry about..
  17. As long as you are honest about it on your security form and mention it to your careers advisor you should be fine.


  18. I'm in the tricky position of me being a few grand in debt, was trying to pay it back as much as I could. The impatient, bullying companies broke the law and after I pointed this out, they were too embarassed to continue collecting it

    effectively I don't have to pay them anything until they admit they broke the law in writing and face an investigation by the FSA, they will never do this, they have let it go

    meanwhile my credit rating is in ruins
  19. If they have made a pig's ear of your loan's, you could try approaching a company like "Keroboclaims".
    They specialise in unenforceable credit agreements and will take a free look.
    They only charge you if they believe they can assist, and only then if they win, or they refuse to proceed.
    Best of luck, they are a genuine company, and have in the past worked successfully for me.
  20. Presumably the credit check takes a few weeks/months to be processed, so when are you likely to know if there is a problem? Thanks :)

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