I submitted SF85P for Public trust a week ago via eApp. I am a federal contractor for 10 yrs and did this public trust few years back and it seems current submission is for reinvestigation. Current issue is a credit card and one personal loan were sent to collections a year back. I am working with debt management plan company for negotiated payments and resolve those debts with those creditors as soon as possible. I have already started a monthly payment plan for that credit card and other personal loan payments negotiation is still in progress. Any one knows if this debt issue results in denial or result in any kind of issue ? how long it will take to get the results of investigation or any next steps ?. The Govt agency is GSA.
If your debt payments went over 120 days late, depending on your situation, you may have been required to report these debts to your FSO (I’m assuming you held a clearance at the time the debts went past due.
Debt issues, and financial insolvency is the number one reason for denial.
You may be required to provide additional information; the full who, what, when, where, why, etc. Pull any and all documentation together, map out a time line with dates as to when payments went late, what steps you took if any, were your wages garnished, did collection agencies contact you, date you began working with debt management company, the $ amount of your payments, how many you’ve made, when you anticipate the debt being paid in full, who else is aware of the late payments/debt management company, etc, etc. Please note for this purpose these are rhetorical questions, I’m not asking you to post your financial business on this board.
I doubt anyone can provide you with how long it will take for the next steps, or when the results will be finalized.
Usual disclaimer, I am not, nor ever have been an adjudicator. Just a person who had some debt issues that had to be discussed during reinvestigations.