Jump to content

What effect would joining the reserves have upon all my debts and their handling?


beeboah
 Share

Recommended Posts

So let's say I owe $12,000 and join the reserves?

It is my understanding that you cannot join the military with bad credit.

I *heard* that you must make payments their way. Would this not toll the SOL etc?

In joining the reserve, I would already making an extremely complex decision.

I would like to know if the military's handling of my debt would clean up my credit report, toll the SOL, or make it worse etc.

Thanks!

Link to comment
Share on other sites

O.K. you can join the military with bad credit....I've have over 18 years and see it on a daily basis. It is now MANDATORY that all 1st term Soldiers take a finance class.

Joining the military you must be MORE vigiliant with your money. They will not help you pay your bills you must still pay them and make them on time. If you are late they can write your commander and let him know that you are late on "whatever" bill. Also being in the military they can garnish your wages.

I believe what you are talking about is the Soldiers and Sailors act (google it).

This states that if you are deployed (for whatever reason) they must bring your APR down to 6% until you redeploy.

Now the "CATCH" to that statment, your bills must be prior to you joining the military.

Again the military WILL NOT help you with your bills. They will give you classes and tell you how to manage your money but that is it (some are VERY GOOD BTW). Don't forget the Soliders and Sailors act if you deploy.

Any other questions regarding military feel free to ask.

Link to comment
Share on other sites

If you carefully read the SSA, if you go active duty, all debts incurred prior to enlistment must have then interest reduced as well. (did that for DD)

For deployment time, if you have any bill going south, they cannot take any legal action against you.

You can enlist, just won't get the security clearance w/bad credit so your MOS options are limited. Also, once enlisted w/ a clearance, if your credit goes south, they will pull your clearance and you will be separated if not reclassified.

Link to comment
Share on other sites

You can enlist, just won't get the security clearance w/bad credit so your MOS options are limited. Also, once enlisted w/ a clearance, if your credit goes south, they will pull your clearance and you will be separated if not reclassified.

I must disagree momof5, I had a BK and when I applied for my security clearance in 2001 and had a bunch of lates from me and my EX wife and a few charge off's. Took a year to get my secret clearance but they finally gave it to me. I did not have to reclass and they did not want me to seperate.

beeboah, your basis reserve pay is not much your only talking a few hundred $ a month if that....now if you get called up then you get full pay at whatever rank you are. Depending on your employer you may loose you current pay if you (still have your job waiting for you to get back) get called to active.

We don't get paid that much, my current pay is around $3.50 an hr at 24 hrs a day 7 days a week.....

Link to comment
Share on other sites

2001 is the key as well as the BK. If you are currently behind, you are a risk. If you have BK'd your risk was eliminated with the discharge. Recently, the military has been taking a harder line against bad credit. My BF had his clearance yanked for debts over 7 yrs old that were no longer on his bureau. He either had to prove he didn't owe it, paid it or would pay it now to get his clearance back. Credit is checked just before deployment now and if it headed south, they will mark you non-deployable.

To the OP, yes you can get a no clearance needed MOS and then reclass upon reenlistment....but this can ONLY be done on the first reenlistment.....after that you are pretty well stuck with that MOS.

Link to comment
Share on other sites

Thanks for all this information.

This may be a weird one for me if I do it. I am a non-cleared DOD contractor for the Marine Corps. I work in the IT field.

I think that most all the IT work within the military world requires a clearance doesn't it?

Sure would be weird to have to leave the IT field to join the military on a reserve basis and not be able to do IT work, while still doing IT work as a military contractor.

Nuts! LOL.

Oh well I hate IT anyways.

Link to comment
Share on other sites

momof5, my BK was in 94...I had the 10 year BK. Still recieved a secret clearance.

Also, they JUST started to check your credit before deploying. That has only been going on for less than a year.

I have no idea why you BF's clearance was revoked. They just don't do checks 7 years after they give you a clearance to see how you are doing. They might if it is a TS but I doubt it......

As long as your MOS, in and out call has a "YES" for your MOS and you are in your window to REUP it does not matter what enlistment you are in 1st,2nd or 3rd you can reup for a different MOS.

beeboah, when you go to your recruiter tell him what you want. If you want IT then as long as your scores are good enough then you should beable to get it. The problem with that job is that you may be working on a computer and networks in the field.......Army considers it anything to do with computers.

Also beeboah, Have you looked at how much you get paid.....not that much for 1 week a month...

Link to comment
Share on other sites

All i know is that his clearance WAS revoked while he was in Iraq. I worked his CR for him and got it all cleared up. His clearance was reinstated (this was this past year!). His promotion was also held up. He finally was promoted last month.

Additionally, my children (3 of them) are in the Army - 2 AD and 1 NG. I also helped my son's fiancee enlist. The fiancee had limited options and was not happy with her MOS choices. I discussed this at length with the recruiters and the career counselor. They made it abundantly clear that the MOS could change at the reenlistment point but not subsequent to the first reinlistment.

We all know the rules change year by year. These are the rules as they are now.

I am ex-AF officer and my father is a retired LTC. Things were different then, that is why I consult those in the know for how it is now and for that particular service....as I was AF my father was AF and the kids and BF are Army or Army NG.

My 2 really good friends here in Jax are recruiters...one AD Army the other NG Army.

My .02

Link to comment
Share on other sites

They made it abundantly clear that the MOS could change at the reenlistment point but not subsequent to the first reinlistment.

That is not what you said above. You said it can ONLY be done on first re-up which is incorrect.

I'm gald that you are a retired Officer and your father is a retired LTC. Good for the both of you. Does that make you smarter on reenlistment?

If you quote your very good friends that are recruiter then quote them as they said it not how you think they said it.

Your son's fiancee could not get a MOS she wanted becasue of her scores on her ASVAB test. Nothing else thats it......Now when she gets to her unit she can take classes to "UP" her GT score and then reclass at the first re-up (which is a 2 year window now)....I get all that. I deal with that on a daily basis.....

Sorry momof5, but I do know a thing or 2 also 1st hand. I know what can be done while in and I've seen people screwed becasue of recruiters (not all are bad, I understand this).

Either way OP join and enjoy yourself it really is a good experience, is it worth the money....NOPE!!! You as an IT specialist can make much more on the outside than in the Army.

Link to comment
Share on other sites

  • 2 weeks later...
Guest
This topic is now closed to further replies.
 Share

×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.. For more information, please see our Privacy Policy and Terms of Use.