I recommend applicants check their scores to make sure there are no surprises, look at creditor listing and challenge anything not related to you, pay off any low hanging fruit bills of $15 or $25, and then get into a re-payment plan on bigger ticket items. We represent active and retired military as well as civilian contractors who have varying levels of security clearance. Debt Settlement: How It Works And Is It Worth The Risks? Here is a list of our service providers. If you are thinking of applying for a security clearance, its important to start sorting out your debt before you apply. SC Clearance with CCJ and debt MoneySavingExpert Forum You will also have fees from the debt settlement company. If none of the accounts in your own name show a poor credit history or delinquency, then your spouse's poor credit will not likely affect your security clearance application. Learn more about our law firms philosophy and values. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); You may be required to obtain government security clearance for your job in order to access classified information. The Housing Bubble Popped The applicant had almost a million dollars in delinquent debts that he attributed to the housing market crash. When it comes to security clearance requirements and debt, the issue is more about showing youre reliable and responsible than it is about the money. You pay the debt settlement company, which, in turn, pays your creditors. Botched finances, the same one that causes those with clearances to lose them. Settled debt for secret - SECURITY CLEARANCE Q&A - ClearanceJobs Blog OPM considers bankruptcy only as a trigger for further inquiry. This behavior raises questions about loyalty, reliability, and ability to protect classified information. Individuals cannot simply volunteer themselves for security clearances. (5) Financial Problems that are linked to gambling, drug abuse, alcoholism, or other issues of security concern. Due to this and my income being the only one in the household to take care of 3 people my credit cards were put on the back burner and went into charge off. 431 Canceled Debt Is It Taxable or Not? Debt and Your Military Security Clearance - InCharge Debt Solutions Debt settlement also has its drawbacks. He started writing/bragging about it in 2012, helping birth Debt.org into existence as the sites original Frugal Man. Prior to that, he spent more than 30 years covering the high finance world of college and professional sports for major publications, including the Associated Press, New York Times and Sports Illustrated.
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