Armed forces and credit scores

Cat695

Marker wrote: »

No look after your kids first and then yourself.(do a degree i agree but sorry have to disagree here)

Mate i know your instincts are to look after your kids and rightly so....but if you can't look after yourself first then theres no way on this planet you can look after your kids......number one first, your kid/s are being looked after by your ex and your paying money thats enough for now....focus on yourself and getting in the Navy....a secure job (and the potential for a career till your 55 and over) gives you alot better options for you and your childrens future....thinking long term is better than short term

Trust me

the_Front

Cat695 wrote: »

Marker wrote: »

No look after your kids first and then yourself.(do a degree i agree but sorry have to disagree here)

Mate i know your instincts are to look after your kids and rightly so....but if you can't look after yourself first then theres no way on this planet you can look after your kids......number one first, your kid/s are being looked after by your ex and your paying money thats enough for now....focus on yourself and getting in the Navy....a secure job (and the potential for a career till your 55 and over) gives you alot better options for you and your childrens future....thinking long term is better than short term

Trust me

Couldnt agree more there tbh. My main focus is to get in the RN. I'll certainly be more supportive financially when im trained. I might not see them quite as much as i do now but its something ive wanted a long time and also something i now realise i should have done a long time ago. In the job im in now,i cant take my kids anywhere special or plan for their future. And im back at my parents house with very little outgoings! so what would it be like when i get my own place! A career is definatley something i need and want.

Thanks for all your input and help.It has been very helpfull to say the least.
Im sure i'll speak to you all again in the near future.

Thanks

kyh

a small piece of advice rgarding your debt and joining up. The best policy is honesty with your potential employer - one of the reasons debt is considerd an issue is the security risk of you being open to potential blackmail from outside sources. This is even more relevant on HM Subs if you are going SM. Yes there are many people in the military with debts but you have to be honest about them during your security clearance checks - my husband was declared bankrupt (business collapse) before my last check but because I was open and honest and declared everything they could clearly see we were trying to resolve the situation then I was cleared. I am not ashamed of our financial situation and do not hide it therefore no one can threaten to expose me for it and I am less of a risk.

That is not to say I am condoning personal debt in the military but like you many have circumstances that make being debt free in todays society difficult.

the_Front

kyh wrote: »

a small piece of advice rgarding your debt and joining up. The best policy is honesty with your potential employer - one of the reasons debt is considerd an issue is the security risk of you being open to potential blackmail from outside sources. This is even more relevant on HM Subs if you are going SM. Yes there are many people in the military with debts but you have to be honest about them during your security clearance checks - my husband was declared bankrupt (business collapse) before my last check but because I was open and honest and declared everything they could clearly see we were trying to resolve the situation then I was cleared. I am not ashamed of our financial situation and do not hide it therefore no one can threaten to expose me for it and I am less of a risk.

That is not to say I am condoning personal debt in the military but like you many have circumstances that make being debt free in todays society difficult.

I agree. I have been totally honest regarding my financial situation from the word go. Hence the reason for my application being put on hold until i financially untie myslef from my ex. I dont really have debt,well a small amount of around 500 pounds. My concerns were more down to my credit record letting me down. I have been told that having debt isnt as bad as having a poor credit rating with past defaults etc.

But as you stated,i can prove that i am no longer in this situation and also that it couldnt be helped as i was supporting my wifes debt as well as trying to pay bills.

Regards

thesmiddy

Some branches in the RN require a higher degree of vetting, it could restrict the branch you want to join but shouldn't affect your ability to join up. What are you joining as?

the_Front

Hi again,

Ive been progressing with the whole debt situation. I obtained my credit score from experian and i have 3 defaults but i have now cleared all the amounts owed on them,but i understand they will be present on my credit score for 6 years!

The mortgage transfer was refused by the lender even though my wife[seperated] has been paying the mortgage solely since April. I have one more small amount to pay and i am debt free[apart from the mortgage].

I understand that my credit score will still be bad but im hoping that the effort gone in to clearing my debt will be a plus point by my possible future employers.

When i clear the next debt that will mean that i have no joint debts with my ex. I have spoken to experian and i can then apply for dissasociation from my wife financially as they understand that joint mortgages cannot just be 'cleared'. Im praying for some luck with this as my credit can begin to heal as soon as im going it alone. Im sick of being dragged down by my ex's bad money management.

Trying_to_be_good

Have you filed for divorce? That's the easiest way to get disassociated and if you formalise the maintenance you pay she may be able to take on the mortgage - otherwise you're scuppered getting another mortgage in the future. It will give you the legal right to re-start your life, and you don't have to involve solicitors and their fees for all of it.

the_Front

Trying_to_be_good wrote: »

Have you filed for divorce? That's the easiest way to get disassociated and if you formalise the maintenance you pay she may be able to take on the mortgage - otherwise you're scuppered getting another mortgage in the future. It will give you the legal right to re-start your life, and you don't have to involve solicitors and their fees for all of it.

When you say formalise,im guessing you mean a direct bank transfer?
Im still not sure the lenders will agree a transfer on the mortgage due to her having an 18 grand loan secured on the house in her name!
I kind of feel cheated if that is the reason for the transfer being declined as it isnt my loan.

I havnt yet filed for divorce for the simple fact.............i cant afford it. ive made clearing any debt and joint names debt my priority. But that is the next thing in on the list. Im hoping to divorce without using solicitors as i dont see any dispute. Neither of us have any money,im not interested in anything back on the house although my ex is insisting on paying me what im owed when she does finallly sell one day.

I cant complain too much,shes not mallicious or nasty,shes just careless when it comes to money. Another reason i dont feel the need to involve solicitors is her tendancy to get very easy influences worries me that the divorce could get messy..................and for what,as i said above,theres nothing to argue over. As long as i have full access to my kids[which i always will] im happy to walk away with nothing.Just as long as i can get on with my life

Trying_to_be_good

By formalising the maintenance, I mean through the Courts (not necessarily a solicitor - you can DIY the legals). But start paying by a method that shows on your bank statement now. The court bit of divorce isn't that expensive - just filing and Court fees, if you're DIYing the legals.

You really need to sort out the house - if she can't get a mortgage (for whatever reason) to buy you out of the house/take on the mortgage herslef, you are saddled with the joint debt until she can. If she stops paying, you are liable for the debt. If she can't afford the house, the bottom line is it needs to be sold, and you both move on to something you can each afford.

Not entirely sure how she managed to take out a secured debt that's not in joint names if the house is in joint names - I would think you're jointly liable for that, too, but I'm no lawyer so could well be wrong.

the_Front

Trying_to_be_good wrote: »

By formalising the maintenance, I mean through the Courts (not necessarily a solicitor - you can DIY the legals). But start paying by a method that shows on your bank statement now. The court bit of divorce isn't that expensive - just filing and Court fees, if you're DIYing the legals.

You really need to sort out the house - if she can't get a mortgage (for whatever reason) to buy you out of the house/take on the mortgage herslef, you are saddled with the joint debt until she can. If she stops paying, you are liable for the debt. If she can't afford the house, the bottom line is it needs to be sold, and you both move on to something you can each afford.

Not entirely sure how she managed to take out a secured debt that's not in joint names if the house is in joint names - I would think you're jointly liable for that, too, but I'm no lawyer so could well be wrong.

Ive set up a standing order for my payments to her.

Ive spoken to a solicitor on the house front when we originally split and due the fact we have children under 16 there is no way i can make her buy me out or sell. Thus the reason for my drastic decision to offer her a 'free' transfer on the mortgage details.To which that was rejected by the lender?!!

On the loan front,it wasnt a secured loan until recently. After we split she missed a payment and it was at a time when Northern Rock crashed and they came down heavy on her and started court proceedings. Its an agreement rather than a standard secured loan that when she sells up she must first pay them after the lender. That is the reason why i personally think the transfer was rejected.

I even offered to pay half of her loan if she sold when we first split. Just so we could both get a fresh start,but she refused to sell.

Im not liable for the loan as it was taken out in her sole name independantly. But im sure they would have a good go at me if things were to go tits up due to my name being on the mortgage.