Credit question

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nickz84

New Member
I know that the FAA looks at your credit, I have shaky credit because of medical bills and a few other things that are really small. I am wondering if they look at the overall fico scores or certain demeaning things? I don't owe taxes or any federal or gov't institution. I am curious because, I might lose this chance over some really small things that I am in the process of fixing. Thanks for any help in advance!
 
nickz84 said:
I know that the FAA looks at your credit, I have shaky credit because of medical bills and a few other things that are really small. I am wondering if they look at the overall fico scores or certain demeaning things? I don't owe taxes or any federal or gov't institution. I am curious because, I might lose this chance over some really small things that I am in the process of fixing. Thanks for any help in advance!
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From what I've read on here and various other places, as long as you can prove that you've been trying to rectify the situation (i.e. making payments, etc.) you shouldn't have any problems. It's the people who aren't doing anything to get out of their debt problem that they are worried about.
 
nickz84 said:
what kind of proof would they need that I am trying to rectify the situation? Proof of payments etc?
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I am really not too sure, I didn't have to deal with it.. But I know for a fact that anything under 10k is not a problem. I have about 7.5k in student loans and a few credit cards here and there.

I would venture to say that they will get that information from the people to whom you owe money, not necessarily from you.
 
i have about 4K i total debts medical bills mostly and a few other things nothing near 10 grand! If I call career division do you think they would have any clue?
 
As long as you're paying on the debt right now, I'd say that you have nothing to worry about.

Aviation Careers might be able to answer your question, but I don't know for sure, since it's part of your security clearance.
 
Between my fiance and I, we share about $400K in student loan debt and I just received a few questions about the status of my loans and whether I was in repayment and whatnot. I'm not looking for pity but wanted others to know that student loan debt, so long as it is not delinquent, will not act negatively against you in their consideration.
 
PantherFlyer13 said:
Between my fiance and I, we share about $400K in student loan debt and I just received a few questions about the status of my loans and whether I was in repayment and whatnot. I'm not looking for pity but wanted others to know that student loan debt, so long as it is not delinquent, will not act negatively against you in their consideration.
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400K?

Did you get a HOUSE with your diploma?
 
 
nickz84 said:
I know that the FAA looks at your credit, I have shaky credit because of medical bills and a few other things that are really small. I am wondering if they look at the overall fico scores or certain demeaning things? I don't owe taxes or any federal or gov't institution. I am curious because, I might lose this chance over some really small things that I am in the process of fixing. Thanks for any help in advance!
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I'll give you a quick overview of my situation.
When I was 18 I got a ton of credit when they were handing it out like candy. I made some bad decisions. I ran them all up, didn't have the means of paying them off, and went delinquent for a whole year (about $7k). Just about a year ago I started doing a credit counseling service, and settled some other accounts very, very shortly before PEPC. When I had the sit down with the security person at PEPC, she was like, "Alright, what's going on with this credit?"
I had to write a statement explaining the situation, what happened, what I did to fix it, and how I intend to maintain it. PEPC was in February, I got an interim clearance about a month after, and have never had to talk to anyone else regarding it.
I was stressing it big time and thought it would ruin my chances. It seems to not be THAT big of a deal. Good luck.
 
I think they run it in advance of PEPC. There was a space for a check or notes on the folder the security people had and I know for mine at least it was filled in.
 
Yeah i wouldnt worry about it too much, my credit is crap and all they asked is if i am taking steps to fix it. I actually brought a lot of paperwork to my PEPC showing what has been paid and what is in good standing...they didnt even ask for it.
 
nickz84 said:
I know that the FAA looks at your credit, I have shaky credit because of medical bills and a few other things that are really small. I am wondering if they look at the overall fico scores or certain demeaning things? I don't owe taxes or any federal or gov't institution. I am curious because, I might lose this chance over some really small things that I am in the process of fixing. Thanks for any help in advance!
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Just FYI, they don't just check FICO - it's a full report pull. Mine showed up on Equifax.
 
Yeah, when I was in the Army they used to warn us that bad credit and extreme indebtedness could be cause for the loss of our security clearance. Essentially, they think if we are in insurmountable debt, we are more likely to sell secrets, etc. At one point while I served I had close to $5000 in debt with almost $2000 in delinquency, and nothing was ever said to me.

Considering $5000 was about 35-40% of my yearly salary at the time, and nothing was ever said to me, I would think there is a lot of leeway in the credit issue, especially if you are making an effort to pay it off
 
greg1016 said:
Yeah, when I was in the Army they used to warn us that bad credit and extreme indebtedness could be cause for the loss of our security clearance. Essentially, they think if we are in insurmountable debt, we are more likely to sell secrets, etc. At one point while I served I had close to $5000 in debt with almost $2000 in delinquency, and nothing was ever said to me.

Considering $5000 was about 35-40% of my yearly salary at the time, and nothing was ever said to me, I would think there is a lot of leeway in the credit issue, especially if you are making an effort to pay it off
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Nothing was probably ever said because most of the time the military won't find out about people's bad debt until they renew their security clearance (7-10 years for secret, 5 for TS). Sometimes they find out sooner if creditors take the time to contact security coordinators about someone not paying their bills but most of the time they don't go that far.
 
FYI... www.annualcreditreport.com is the site where you can get your free annual report (without signing up for any services or fees or whatever). If you're nervous or just want to check and make sure that the big three haven't screwed anything up, you may want to check it out.
 
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