I am about to apply for a job with a DOD contractor that requires a secret clearance. I have old delinquent CC debts that total less than $5k that no longer shows up on my credit report due to the FCRA rule of 7 years. I was about to take care of it back then but I was laid off and the company closed thanks to outsourcing to India. Every since then thanks to the lack of and under employment, I do not have the funds to do so. My question is do I need to disclose this on the sf86 since it is no longer reported nor shown on my credit report? What is the best way to proceed in this matter as I really could use this job. Should I borrow the funds to clear this issue? If so how would I go about doing this as the collection agencies are no longer listed on my credit report and I have no records of them to contact. We live in a very small town and the only jobs here are with DOD contractors. Thank you for your time and attention!
Not all debts show up on a credit report, but even for those that don’t or fall off, if they fall within the parameters of the questions in the financial section of the form you have to disclose them, as most likely some will show up somewhere in the investigation. If you are liable for any delinquent debts you should take steps towards resolving them by either paying them off, agreeing to and starting a payment plan, or getting a settlement with the creditor.
Thank you Marko for the reply, it is highly appreciated! Can you suggest or do you know of a way to find these past creditors as they are no longer on my credit report and I do not have records of them as there has been no contact for years now. Again thank you for your time and attention!