Navy Net - Royal Navy Community

Register a free account today to become a member! Once signed in, you'll be able to participate on this site by adding your own topics and posts, as well as connect with other members through your own private inbox!

Will debt stop me joining????

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:
 

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.
 

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?"
 

busychris

Badgeman
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
 

mattyrock

Badgeman
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.
 

Kirstiphine

Midshipman
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 :)


Posted from the Navy Net mobile app (Android / iOS)
 

Rachelthree

War Hero
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 :)
 
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 :)

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:

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:
http://c69011.r11.cf3.rackcdn.com/29bd98646fca41a890a772a59df08d1a-0x0.pdf
 

Drakey

War Hero
.......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.
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.
 
Thread starter Similar threads Forum Replies Date
K Will debt stop me from passing the security clearance? Joining Up - Royal Navy Recruiting 4
MoD_RSS New debt letters rules will support people in problem debt MoD News 0
MoD_RSS Civil news: tender opportunity for housing and debt work MoD News 0
MoD_RSS Almost £38 million support package for debt advice providers helping people affected by Coronavirus MoD News 0
M Security Checks and Debt Royal Naval Reserve (RNR) 2
MoD_RSS HM Treasury announces revision to the UK Debt Management Office’s financing remit 2020-21 MoD News 0
MoD_RSS UKEF guidance for creditors on temporary suspension of debt service repayments MoD News 0
MoD_RSS NHS to benefit from £13.4 billion debt write-off MoD News 0
MoD_RSS Courts wind-up debt collection company MoD News 0
MoD_RSS Breathing Space to help millions in debt MoD News 0
MoD_RSS Civil news: housing and debt telephone advice services tender MoD News 0
MoD_RSS Civil news: housing and debt and HPCDS tenders open MoD News 0
MoD_RSS University of Liverpool changes student debt penalty policy MoD News 0
MoD_RSS Debt bosses’ failings lead to £7.6 million shortfall in funds MoD News 0
MoD_RSS News story: Individuals to be protected from 'devastating impact' of problem debt MoD News 0
D Security clearance debt Joining Up - Royal Navy Recruiting 3
MoD_RSS Press release: Government pledges to improve the way Council Tax debt is recovered MoD News 0
MoD_RSS Press release: £2.3 billion debt relief granted in 10 years of DROs MoD News 0
MoD_RSS News story: Civil news: tenders open for housing and debt services MoD News 0
MoD_RSS News story: Civil news: tenders open for housing and debt and HPCDS MoD News 0
MoD_RSS Press release: Insolvency Service grants 250,000 Debt Relief Order MoD News 0
NateDogg Help with possible debt problem please? Joining Up - Royal Navy Recruiting 15
perrym Would you like a Debt Free BEng (Hons) Degree from the Submarine Service whilst earning a wage? Submariners 0
perrym Would you like a Debt Free BEng (Hons) Degree from the Submarine Service whilst earning a wage? Joining Up - Royal Navy Recruiting 8
D Debt Collectors The Quarterdeck 14
D Will debt affect my application Joining Up - Royal Navy Recruiting 2
trelawney126 The Debt we owe Libya. Diamond Lil's 1
M Debt help Finance & Pensions 10
M Will debt effect my rn appliacation??? Joining Up - Royal Navy Recruiting 19
T Joining with Debt Joining Up - Royal Navy Recruiting 12
D Debt Joining Up - Royal Navy Recruiting 38
M bad debt Joining Up - Royal Navy Recruiting 42
S Debt Management Finance & Pensions 18
slim The debt adviser sacked for saving suicidal woman Diamond Lil's 9
golden_rivet prisoners of debt Current Affairs 13
B ARE YOU IN DEBT The Corps 2
J Will an IVA stop me from joining? Joining the Royal Navy 2
MoD_RSS 'Lockdown was the only way to stop the NHS being broken' - The Times Weekend Essay MoD News 0
MoD_RSS £12.2 million boost for genomic surveillance to help stop transmission of COVID-19 MoD News 0
MoD_RSS Government extends support to stop business evictions this year MoD News 0
MoD_RSS New stop and search powers for convicted knife criminals MoD News 0
MoD_RSS Border Force stop £15 million of cocaine hitting streets MoD News 0
MoD_RSS New framework contractors appointed to help stop mine water pollution MoD News 0
MoD_RSS Innovation call for technology to stop armed or violent offenders MoD News 0
MoD_RSS Report 06/2020: Signal passed at stop and near miss, Deansgate-Castlefield tram stop, Manchester MoD News 0
MoD_RSS Public asked to leave a name and number with venues to help stop the spread of COVID-19 MoD News 0
K Previous broken bones, can they stop me getting in? Joining the Royal Navy 1
MoD_RSS Yemen: New UK aid will help stop the spread of coronavirus MoD News 0
soleil Forces TV: Basic Training At HMS Raleigh: "We Can't Afford To Stop". Bases / Shore Est 7
MoD_RSS Person struck at Gravel Hill tram stop, Croydon MoD News 0
Similar threads


















































Top