My husband in the AF (tech school right now) but I am not living with him, We are really behind in debt and I wanted him to look into talking to someone on base about possible bankruptcy or just financial counseling since it would be cheaper than hiring someone here. Someone on base told him not to talk to anyone because if anyone knew he had financial hardships, he would be discharged, but I have no clue if this information is correct. I would think it would be better to get it out in the open since they would find out if we declared bankruptcy but I don't want to get him into trouble just for asking random possible questions. Also it might show that we are trying to deal with it instead of ignoring it. It would also be easier for him to talk to someone there since people here might not know how to deal with the military and bankruptcy at the same time.
2007-09-20 17:31:21 · 7 answers · asked by Sarah 1234 2 in Business & Finance ➔ Personal Finance
The military frowns on members who do not meet their financial obligations. It literally gets put in their personnel files and will keep them from getting promotions.
Check this site: http://www.nfcc.org/ . This is Consumer Credit Counseling Services (CCCS), a legit non-profit company who offer free credit counseling. They also have debt management programs available, if you qualify, for no fee. They will be able to look at you financial situation and advise you how to proceed.
I think you probably just need a good budget to live within that military pay.
2007-09-20 18:26:16 · answer #1 · answered by bdancer222 7 · 0⤊ 0⤋
I was on the same situation and this site helped me QUOTEHELP.NET-
RE Bankruptcy and Air Force?
My husband in the AF (tech school right now) but I am not living with him, We are really behind in debt and I wanted him to look into talking to someone on base about possible bankruptcy or just financial counseling since it would be cheaper than hiring someone here. Someone on base told him not to talk to anyone because if anyone knew he had financial hardships, he would be discharged, but I have no clue if this information is correct. I would think it would be better to get it out in the open since they would find out if we declared bankruptcy but I don't want to get him into trouble just for asking random possible questions. Also it might show that we are trying to deal with it instead of ignoring it. It would also be easier for him to talk to someone there since people here might not know how to deal with the military and bankruptcy at the same time.
2014-10-07 12:31:03 · answer #2 · answered by ? 1 · 0⤊ 0⤋
Definately go the base Family Support Center or Airman and Family Readiness Center. They actually have trained members to assist with financial counseling and you may even be eligible to apply for Air Force Aid. You will want to do this before your situation gets out of hand. Part of your husband's security clearance check (which he must have) is a credit check and it could cause him problems if you do not handle it immediately.
2007-09-28 14:06:06 · answer #3 · answered by Ms B 1 · 0⤊ 0⤋
Head to Family Readiness... they have folks there who will either help you figure out how to straighten up your finances or who can point you in the right direction.
The Air Force has become very intolerant of financial mismanagement, and frowns upon filing bankruptcy. I know folks for whom that has been the final straw.. they have been been given a general discharge or have been refused reenlistment to mismanagement of personal funds. One active duty member was a great troop, except for that. After many warnings and counseling sessions, and nothing every resolved, he was finally booted out.
BUT... if they see that you know there is an issue, you are being upfront and proactive, they are more likely to work with you and help you along.
Good luck! Remember, the folks in Family readiness are there to help you, not to hurt you!! Be honest and upfront and it will work out!
2007-09-28 04:58:45 · answer #4 · answered by usafbrat64 7 · 0⤊ 0⤋
You are trying to deal with it and that is good. Your husband's base has financial counseling available and he needs to seek them out. Check out the Family Support Center and go from there. Hopefully, you do not have people coming to your door or collection agencies after you, you may have some problems. Still talk to someone at Family Support.
2007-09-22 15:03:12 · answer #5 · answered by Gary 5 · 1⤊ 0⤋
Unresolved debt issues can actually harm you husband careers is he requires a security clearance. High debt is considered a risk factor because it theoretically makes him more vulnerable to bribes.
Debt counseling often does more harm then good. I would call your local county bar association for a referral to a local bankruptcy specialist. Most attorneys will give you a free consultation.
The new bankruptcy laws require a credit counseling class that explains your options and it is relatively cheap. You have to take this class anyway if you are going to file bankruptcy and a local attorney can give you a referral for a authorized local provider.of this pre-bankruptcy credit counseling class.
Good luck!
2007-09-26 23:07:38 · answer #6 · answered by Carl 7 · 0⤊ 1⤋
He will not get in trouble for Bankrupcy, but I would really explore all of your options like debt consolidation and all. My wife filed Chapter 13 before we got married and she really regrets it.
2007-09-23 02:16:50 · answer #7 · answered by arpowre3 2 · 0⤊ 1⤋