Will debt stop me joining????

Discussion in 'Joining Up - Royal Navy Recruiting' started by chefgary85, Nov 24, 2013.

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  1. hi guys.forgive any blatant naivety this is my first post!im gary im a 28 yr old chef.ive done the whole fine dining,michelin end of cooking for 10 years and i want to give it up to join the navy.something ive allways wanted to do.make a difference and travel.16 hrs a day putting microscopic leaves on plates with tweezers to serve to overpaid,toffee nosed farmers in london is not my thing.in fact i hate it.so im determined to fulfill my dream and join.my mates think im mad as ill half my income but the money doesnt interest me.the problems im having are however money related.im in an iva with additional small debts and my iva company are now advising me to go bankrupt.im gutted.......on paper it makes sense as my debts exceed £15,000 but i really am desperate to get in.ive packed up smoking,drinking etc to get myself upto speed and am training hard.is this going to stop me joining?or if im declared bankrupt after applying will it affect me?some clarification would be fantastic guys.its frustrating as im so determined to get in but the rejection wont come easy .:la:
  2. Ninja_Stoker

    Ninja_Stoker War Hero Moderator

    As long as you pass security clearance it's no longer an issue & we no longer discuss finances at interview, nor are you obliged to discuss finances at your AFCO, so crack on & good luck.
  3. Gary

    Ring 08456 07 55 55 today and register your interest in joining.
  4. i rang them yesterday.my initial presentation is july 2nd at ipswich.:)
  5. july lol?!i mean december.
    • Like Like x 1
  6. Ninja_Stoker

    Ninja_Stoker War Hero Moderator

    Wow, July next year?
  7. cal

    cal Midshipman

    Don't know if it's the same at all locations, but I got asked a question about my finances at interview last week. Think it was just a basic question though iirc, something along the lines of "have you ever been responsible for handling your own finances before?"
  8. I had my interview in march and was asked about my finances at interview and had to fill a form out,income/outgoings. I also am in debt and in a repayment plan with a debt solution company. I have passed all the selection process including the security clearance, I start basic in july. My advice is to be completely honest with your afco and on the SC form, that's what I did and had no problems. On the SC form it gives you a box to fill in to help explain better your financial situation. So long as your in control of your debt and it's seen to be reducing and not increasing you should be fine. Going bankrupt may be an issue as i believe having a bank account is required for you to able to get paid
  9. Going bankrupt wont mean you can't have a bank account. You may have to close your current one though... There are bank accounts you can get with no credit facility so anyone can have one.

    I'm in debt, it was discussed at interview, but I brought it up as I knew it could be a problem so laid it out there. I also passed my Security Clearance. I'm not in an IVA or Bankrupt, so I'm not in a position to comment on that though.
  10. I also have debts and asked when I went in for the initial presentation about this as didn't want to get so far down the line of applying then being rejected for this reason.
    The AFCO advised me as long as you have enough money left over from your wages to pay for food and accommodation, and you still pay your debts each month and won't leave you in more debt as a result to go ahead and apply.
    I think I was advised you earn approx £900+ per month (after tax) for the first 6months then your pay will go up.
    After I done my security check I was sent an additional form to fill in regarding my debts and they were happy with this and want to check again in 2 years time to see how my repayments are going and make sure I'm not in any more debt.
    I have a debt re payment plan which was done through the citizens advice bureau although this has all been agreed with the companies I owe money too it's not an IVA or bankruptcy.
    Hope this helps :)

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  11. I reeled off my direct debit payments off to my very bored looking CA in my interview, suffice to say they weren't overly bovvered about my gym membership payments or subscription to glossy box. Just that you can keep your head above water on service pay from what I gathered, and ninjaaaa is a recruiter so knows his beans! All the best in your application :)
  12. I had to google glossy box, how disappointed was I?

    I thought it was a bit premature to add it to the bank! :(

    Posted from the Navy Net mobile app (Android / iOS)
    Last edited: Nov 25, 2013
  13. Ninja_Stoker

    Ninja_Stoker War Hero Moderator

    You must declare on your application form if you have any financial commitments that you would have difficulty meeting if you joined the Armed Forces and the application form asks if you have ever been bankrupt. If you are currently bankrupt, it's a bar to entry.

    The interview changed in July this year. AFCOs are no longer required to ask about finances at interview, although they may ask about responsibilities and it's up to you how you interpret the question. National Security Vetting (NSV) make the call with regard finance, not your AFCO.

    The AFCO Form 5 Guidance Notes (Note 15) is inaccurate with regard your CA assessing your financial circumstances as it is no longer part of the Competency Based interview and NSV will send a Financial Questionnaire (FQ), if they deem it necessary:
  14. A healthy approach to financial responsibiltiy would be useful. Money cleary doesn't interest you as long as you can spend it without thinking about the consequences. I don't think the navy will be have the same level of desperation to recruit you as you may think. Good luck anyway.

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