Hi! I’m completing an SF 86 for a secret clearance and I have several delinquencies / charged off’s some as recent as late last year. I have paid all off all my debt in collections, paid off all my current credit cards. I have listed all this on the SF 86. Based on your experience do I have a good shot at getting a clearance since I have mitigated all my previous credit card issues by bringing my accounts up to date and paying them off?
This will most likely trigger an interview. There is no way to predict success for positive adjudication
You can, however, possibly improve your odds to make them ever in your favor.
Make sure all delinquency is paid in full. Get to know each one - where it originated from, why it was an expense to begin with, why it wasn’t paid after becoming an expense, why nothing was done (or what was done) to try an keep it from becoming a collection, and why -when it was a collection- it went to the charge off phase. Your investigator will need to obtain this level of detail to resolve the flag.
The interviews I’ve completed where delinquency was an issue almost always includes an attitude of nonchalant dereliction of responsibility. The “I don’t remember” or “I was out of work” might be part of the scenario but that doesn’t negate the responsibility. You must be ready to explain actions, or lack there of, rather than proving excuse reasoning.
Have the situation reviewed by a financial counseling service to make sure all issues were cared for. Some, when properly squared away, might qualify for removal from your credit report. Counseling solidifies your commitment to being responsible for debt.
Get copies of your credit report from all three agencies and scour it. Be ready to explain everything.
Most important, report any delinquencies (charge offs are always delinquent debts), collections, etc, in the last seven years - even if they are paid off, charged off, etc.
“Forgetting” those financial issues will cause a visit with an investigator.