For those worried about the Credit Check or the finical Ques

Discussion in 'Joining Up - Royal Navy Recruiting' started by bluefox, Sep 25, 2007.

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  1. To all,

    You might of seen a post, from my self in the past worried about the credit check part of the SC CTC check,

    Ok I now have mine but I thought I would post some helpful hints.

    1) DO NOT LIE
    2) SEE ABOVE
    3) SEE POINT 1
    4) Get your credit report from Experian or Credit expert as you will need this.

    Ok I have a few defaults from my Marriage breakdown in 2002. I declared this and added a NOC to each one explaining my reason for the default and my Proposed repayment proposal and where appropriate that I have informed my creditors of my new address. You should of also admitted this, if you think you have any on the SC form.

    Also on you credit report you will see your last balances for each creditor this information will be needed to fill in the financial questionnaire and will show the DVA you are making sensible repayments.

    Now fill in the questionnaire with the same information to what is on your credit file, and all other creditors you can think of that you owe more than 500.00 Pounds to. (DO NOT LIE THEY WILL KNOW)

    Then send the form back to DVA and fingers crossed if you have NOT lied you should be granted clearance.

    I'm no expert on these matters but should you wish to PM for information on how to get you credit file and add a Notice of correction on there I will be more than happy to try and help.. Or if you need a standard letter to creditors in regards to Payment proposal or change of address etc I can forward one on to you.

    All the best and I hope to see some of you for Basic training !

    The bluefox
     
  2. Ninja_Stoker

    Ninja_Stoker War Hero Moderator

    Excellent advice, thank you.
     
  3. One other thing to take into account as im going through this at the moment, if there is an error on your credit file, it can take upto 6 weeks to put right.

    I only found out there was an issue on mine when I applied for a mortgage and was asked why I had a £6000 default against me, after a very fast bit of digging, found one loan (which I owe £4500) claimed I was £6k in default - 1 phone call and all sorted.
     
  4. Well done, and I agree excellent advice. The DVA can grind exceeding small if they need to, and their key concern is a truthful answer to every question, just one little lie rings the biggest alarm bells as one lie means there may be more. The truth may be hard and painful but not as painful as failing and not getting your clearance.
     
  5. Re: For those worried about the Credit Check or the finical

    As others have said, excellent advice. I am in the process of filling in my FQ which arrived at the weekend. Before I do this, I am obtaining my credit report from Experian, Equifax and Call Credit so that the information is as accurate as possible.

    If anyone any queries at all, please do ring or e-mail the DVA, I have done both and they are really really helpful. they've certainly put my mind at ease. Like everyone else has said, don't lie and just be totally honest with them.

    They are actually letting me send a personal statement along with my FQ as to why my finances are like they are, this gives them a fuller picture as possible
     
  6. Re: For those worried about the Credit Check or the finical

    I owe 2570 Pound.I told the Navy about 2 credit cards and my loan. I have never defaulted on a payment before but I most likey will soon because i'm skint! but i only have one more month to go until i start earning money anyway! The DVA passed me easily for some reason... maybe 2500 isnt quite enough for them to worry about.


    PS. dont bank with lloyds tsb. They are taking in excess of 230 quid out of my bank everymonth for " charges " ( they send a ******* letter to my house)
     
  7. Re: For those worried about the Credit Check or the finical

    Bloody hell and I'm sat here worried because I owe £300 on a credit card (Couldn't resist a Xbox 360 to go with my PS3).

    Never mind mate, as soon as you're in you'll pay it off in no time.
     
  8. Ninja_Stoker

    Ninja_Stoker War Hero Moderator

    Re: For those worried about the Credit Check or the finical

    At risk of sounding like a Granny, you can be discharged from the service for "financial irresponsibility". So do not think that because you have gained Security Clearance, your problems are over. Your Divisional Officer will have very little sympathy for you if you get into preventable financial difficulties.

    It is worth talking to your bank NOW. Inform them of your provisional job offer & see if you can reduce the bank charges & arrange a manageable repayment plan. The problem will not go away if you cannot sort it out.

    A bad debtor can be a major burden on his shipmates, you're not meant to borrow money & it can cause major ill-feeling if you do. Not only that, but if anything goes missing, there will be those that may point the finger, albeit incorrectly.
     
  9. Following on from Ninja:
    Your Divisional Officer is there to help you in matters like this, it'll take balls to tell him of your situation (which is of course in strict confidence) but he has the guides etc for almost every eventuality including the financial sides of a matelot. I was there many years ago and telling my DO was the best thing I did.
     
  10. Re: For those worried about the Credit Check or the finical

    Wise words Ninja, thank you very much. I'm actually jealous you know guys. You only have £300 amd £2570 to worry about , i've got £12,000 hanging around my neck at the minute. thats not including my student loan either, i'm bricking about this clearance. It could be worse though I suppose, at least I don'thave to worry about a mortgage.
     
  11. Re: For those worried about the Credit Check or the finical

    Not trying to put the dampners on it, but with a mortgage you have something to show for your debt!
     
  12. Re: For those worried about the Credit Check or the finical

    lol, thats very true is that chaz, the only thing I have to show for my debt is a degree
     

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