Financial commitments?

Discussion in 'Joining Up - Royal Navy Recruiting' started by jjp23, Jul 1, 2009.

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  1. Hi everyone,

    I have received my dates for my RT today and the forms enclosed ask about any financial commitments you have. I have an outstanding loan but have never missed a payment or anything. I have tried to search for the entry guidelines about debt but can't find anything, i think i have seem somewhere that you're ok if the payments are less than 50% of your pay.

    Could someone in the know help me out, what are the entry requirements regarding debt?


  2. Ninja_Stoker

    Ninja_Stoker War Hero Moderator

    The rough rule of thumb is that you cannot join if you are an undischarged bankrupt, have unresolved CCJs or defaulted loan payments or your regular commitments (including mortgage) exceed about £420 per month.
  3. I have had an arrangement to pay on a loan, but I have kepts up with these payments under that arrangement and that arrangement has now ended so I hope that as this was quite recent it will not cause any issue.
  4. Thanks.

    I just have a normal loan that i pay about £200 a month on. I have never defulted on payments. So hopefully i will be ok.
  5. You will be fine, I start with the Andrew in 10 days and I have defaulted on payments since applying last year. I have now joined a debt management program (so they can take care of my finances while i'm in service) as I was struggling and as mentioned previously so long as your payments are less then 50% of your wage you should be ok.
  6. Ninja_Stoker

    Ninja_Stoker War Hero Moderator


    If your personal circumstances change after submitting an application to join the service, such as entering into a debt management plan, then it's a condition of entry into the Service that your AFCO must be informed immediately as it may alter suitability for service.

    The service will discharge individuals that are found to be financially irresponsible & it's therefore unwise to suggest that entering into an IVA is considered acceptable.
  7. I did inform my AFCO, they are fully aware of me entering it. it is not an IVA either.
  8. Ninja_Stoker

    Ninja_Stoker War Hero Moderator

    Providing the AFCO is fully aware of the circumstances, then the question of suitability for service rests with the Careers Adviser assuming Security Clearance has been granted, so the correct procedure has been followed in your particular case.

    The issue is simply not to suggest it is acceptable to have serious financial problems of any nature as no two situations are completely alike.
  9. There is a difference between having financial management programme and an IVA

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