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Thread: Money issues/Security clearance, help!

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    #1

    Help Money issues/Security clearance, help!

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    We are PCSing in a few months, and are in a pretty desperate situation. My husband's MOS is overmanned, and he had to choose a new one, which is human resources. Without going into the whole long story, we have a lot of debt we have not been able to pay much on because of various circumstances. We've been trying to get a handle on it for a while now, and signed up for credit counseling/debt management very recently, but my hubby got an email stating that in the unit he's going into he's required to have a top secret clearance. He has a secret now, but I am very concerned about his ability to get a Top. Bankruptcy does not appear to be an option for us, so I am wondering if anyone is familiar with organizations that help military members get their debt under control, and if anyone has experience dealing with the top secret clearance process....I just want to deal with this in a way that doesn't cost my husband his career. Thanks in advance. I'm sort of a mess.
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    Help Security clearance/Debt management urgent advice needed

    **I'm sorry, I hope I'm not violating any rules here. I posted this on another financial management board, so I apologize in advance for the duplication**

    We are PCSing in a few months, and are in a pretty desperate situation. My husband's MOS is overmanned, and he had to choose a new one, which is human resources. Without going into the whole long story, we have a lot of debt we have not been able to pay much on because of various circumstances. We've been trying to get a handle on it for a while now, and signed up for credit counseling/debt management very recently, but my hubby got an email stating that in the unit he's going into he's required to have a top secret clearance. He has a secret now, but I am very concerned about his ability to get a Top. Bankruptcy does not appear to be an option for us, so I am wondering if anyone is familiar with organizations that help military members get their debt under control, and if anyone has experience dealing with the top secret clearance process....I just want to deal with this in a way that doesn't cost my husband his career. Thanks in advance. I'm sort of a mess.
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    #3
    Quote Originally Posted by ArmyWife71 View Post
    We are PCSing in a few months, and are in a pretty desperate situation. My husband's MOS is overmanned, and he had to choose a new one, which is human resources. Without going into the whole long story, we have a lot of debt we have not been able to pay much on because of various circumstances. We've been trying to get a handle on it for a while now, and signed up for credit counseling/debt management very recently, but my hubby got an email stating that in the unit he's going into he's required to have a top secret clearance. He has a secret now, but I am very concerned about his ability to get a Top. Bankruptcy does not appear to be an option for us, so I am wondering if anyone is familiar with organizations that help military members get their debt under control, and if anyone has experience dealing with the top secret clearance process....I just want to deal with this in a way that doesn't cost my husband his career. Thanks in advance. I'm sort of a mess.
    He's Army, right? The Air Force has an Airman & Family Readiness Center that has classes and can help with budget and debt repayment. I know that the Army has something similar but I'm not sure about the name.

    The catch right now is that with the government shutdown, those types of services are offered by people that are being furloughed at the moment.
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    #4
    Threads merged.

    OP, please don't make duplicate threads in different forums. Thank you.
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    #5
    if he has more than a 40% debt to income ratio he will not qualify for a top secret clearance, if he has more than 20,000 in debt ( excluding student loans and car payment and mortgage) he will not get a Top secret clearance.

    you can apply at your bank for a debt consolidation loan, but remember it is still considered debt and will count against him.
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    #6
    Do you have USAA? They have financial advisers that may be able to help you make a plan. It may be best for you husband to talk with someone and understand what he could do, what would be a waste of time and options he has from here, particularly a contingency plan if he can't get a top secret clearance.

    Clearances can take a while but honestly, the fact that you're saying that you're in a desperate situation and a mess is what they're looking out for in a background check for a top secret clearance. Hope things work out.
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    Thanks all. I'm just not sure where to go from here, go ahead with the process and hope for the best, though I suspect the Top is going to be a no go, or have hubby see if he can have his orders changed before things get out of hand. We really want to take care of the debt, and we're taking steps towards that, but I just don't think it's going to be enough so close to when we're due to report
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    #8
    Quote Originally Posted by gunsgirl View Post
    if he has more than a 40% debt to income ratio he will not qualify for a top secret clearance, if he has more than 20,000 in debt ( excluding student loans and car payment and mortgage) he will not get a Top secret clearance.

    you can apply at your bank for a debt consolidation loan, but remember it is still considered debt and will count against him.
    I wasn't aware there were fixed figures like you noted? Gunsgirl, do you have a source for that or is that just experience? As far as counseling, an organization affiliated with the National Foundation for Credit Counseling (National Foundation for Credit Counseling) is a good way to go to help you turn things around on the debt front.
    J.J. Montanaro is a CERTIFIED FINANCIAL PLANNER practicioner with USAA Financial Planning Services one of the USAA family of companies.
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    Gunsgirl, what directive are you quoting?





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    #10
    Quote Originally Posted by gunsgirl View Post
    if he has more than a 40% debt to income ratio he will not qualify for a top secret clearance, if he has more than 20,000 in debt ( excluding student loans and car payment and mortgage) he will not get a Top secret clearance.

    you can apply at your bank for a debt consolidation loan, but remember it is still considered debt and will count against him.
    Just saw this - but my husband took out a $25k career starter loan with USAA before he commissioned and he got his top secret no problem. He also had some credit card debt (nothing too big).

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