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Economic Ruin Not Inevitable American National Credit 8 of 8
Army NG + Credit Card Debt + Defer Student Loans???
I recently joined the Army National Guard and will be shipping to boot camp in September. I have recent late payments on my credit report, but I have contacted my creditors to work out a payment plan and my total monthly payments on the credit cards is $584. I’m single with no dependents, so while I’m gone, I won’t have any other debt to pay or bills to pay. When the Army runs my credit, will they revoke my contract because of the recent lates? What if I provide documentation showing that I have resolved the issue with the creditor? Also, how do I go about deferring my student loans while at boot camp and AIT? I was able to enlist, but I’m not sure if MEPS ran my credit at the time…my MOS is 68W, Health Care Specialist, and I’m not sure what type of security clearance is necessary…I will be an E-3 when I leave.
If your job requires a clearance it could. MEPs my not catch it but again if your job requires a clearance and depending on what level your background investigation will not end at MEPs. It may show up half way through your training, this could lead to a separation or you having to pick another job. If you default on your student loans and you have student loan repayment as part of you contract the military will not repay them.
Keep all you paper work together. Later on down the line as you career progresses you may fine yourself in position where you will need a clearance.
Whatever you do don’t lie about it.
ADD: I used to do back ground checks for the Army.