Financial problems a hinderance to enlistment.

[InSearchofHonor]

Hello,

I'm a 24 year-old interested in becoming a Marine. I've been both a teacher and a salesman, but there's something about the Marine Corps that's calling out to my soul. I desperately want to enlist, but the amount of debt that I'm carrying makes that impossible. The only possible way for me to pursue the Marines is to file bankruptcy so that my debts are discharged.

My question is this...

Should I become a Marine by any means necessary, or do some acts (i.e. bankruptcy) cast dishonor upon that quest?

[HardJedi]

hmnnn, well, are you married? Single? Most creditors would grant you a little lattitude, at least while you are in boot camp, and maybe throughut your MOS school.

as for it being dishonorable to file for bankruptcy in order to join the Corps?
I don't quite know how to answer that one. IF you were joining just for the sake of getting away from your creditors, to try and avoid paying, I'd say it is dishonorable.

If you are joining because you feel it is your duty to do so, and you must file in order to accomplish this then I'd say it's not.


what does anyone else think?

[CAR]

I would suggest talking with some non-profit credit repair organizations. They can usually get creditors to give you some breathing room and even set up a budget/ payment plan. You would be able to join the Corps while still fulfilling your responsibility. You may not make as much but with the help of teh repair group they can usually get your payments lowered and even cut your interest rates to almost nothing. Don't get too many chances to get it right so if you go that route dont F it up. If your single, even better. Just remember that the Marine Corps will not "protect" you from your responsibility, just the opposite, it will hammer you if your too irresponsible.

Try Clark Howard .com for some possible links to good non- profits. Good luck

[InSearchofHonor]

CAR,

My problems with credit started about two years ago when I left my job as a school teacher and got into real estate sales. I had to spend money I didn't have to try and get business, but it didn't work out like I had hoped. I kept spending and spending thinking I'd eventually make a breakthrough, but I came to the conclusion recently that I needed to get out before I fell any deeper. My dilemma now is that I want to pursue being a Marine, but I can't really afford to without discharging my debts. My payments on my car, car insurance, credit cards, and student loan are almost exactly what I'd make as a PFC. I, more than anyone, would like to be able to pay off all of my debts, but I worry that trying to will be so punative for me over the next four years that I'd be completely miserable and dirt poor all the time. If it came down to it I think I could keep my car and student loans, but the credit card debt may be the deal breaker; the rates that I have are terrible and my principle balance is around 16K. I don't mind living a fairly spartan lifestyle, but having little to no money at all might just be too hard to deal with. I know I have no one to blame but myself, but I just don't know if there's anyway for me become a Marine without filing bankruptcy.

The good news is that I learned from my mistakes and I'm confident that I will never put myself in this position again. It may be too late to do anything about it this time, but I know my future use of credit will be extremely responsible and that all of my financial decisions will be sound. That said, would the Marine Corps not accept me if I went to enlist with a bankruptcy on my record? Outside of the Airforce I don't think any other branch does credit checks on enlisted recruits. I know credit and financial stability can be an issue when you're trying to become an officer and when you pursue a security clearance, but I figure becoming a Marine and making intelligent credit decisions post bankruptcy will work in my favor if I decide to pursue a commission in the middle of or after my enlistment.

If I'm not saying what I should be saying tell me so, CAR. I'm in a position that I never thought I'd be in and it's really causing me a lot of stress.

[ronsgsxr]

JUST A SUGGESTION.
Call some of your credit holders and let them know what you are trying to do (Join the Marines), and ask them if there is anything that they would do with your rates and or payments. When I was deployed to the first Gulf War, my wife couldn't keep up. She called the cards and they let us pay only the intrest per month on the cards. Then got caught up on the pinciple when we returned. Check to see if they would be willing to do something like that. You would probably have to speak to a supervisor instead of the lowly operators. GOOD LUCK. SEMPER FI !!

[CAR]

I had some pretty good debt myself after the Corps and finally got it under control by doing a little of what I was saying. The key is get an outside source to play middle man for you. Like ronsgsxr said you can call them yourself and sometimes they will work with you and others not. I did the same thing during the gulf. The problem with that is that they may not work with you on it because you are not currently in the service. A repair organization kinda steps in and "vouches" for you if you will. They make the deal to get your payments down and most times get the interest rates to 0. I had one card do that for me. Kinda nice. I did not use a credit repair service but I was about to. My debt wasn't tooooooooo bad. Took a while but my credit is awsome now, mostly cause I never use it anymore. There are a lot of "credit repair" company's out there. Some charge money, and some are a joke. however there are a few NON-PROFIT ones that don't charge. Maybe talk with them and see if they can help if not nothing lost. Good luck, Hope you find the honor you seek.