Unpaid charged off account


#1

I had charged account from 2009/10 when I was in school… I didn’t have konowleg about credit history back then. After I finish school and had job in 2012, it was to let to pay since already passed 3-4 years. I let 7 years passed to get clear from my history as friends advice me. I should have take serious action to paid off but I needed up I didn’t pay. Now I got a new job need security clearances. I donot know how to say on SF86 application about debt resolutions. 3 of them will disappear with in the next 3-5 month from my credit history …
Please help me out how to answer SF86 " you have satisfied the issue "? Quastion?
Does this affects me to get confidential level security clearances?
Help needed I am learning about credit history I think it is too late for this job may be


#2

Full disclosure. Check your credit report first. If it shows up, report it. If it is not there…sometimes we get dates and facts wrong, then it isn’t there. But if it is…then report it. Likely it was charged off and they wrote you off. If your overall credit score is below 600…you will have a problem. You need be at least a 650 to have fair credit and decent shot at clearing. However, your score can go up or down fast by getting into a repayment plan for each creditor. Make unaddressed debt addressed debt…by paying it. If you are under a 600 FICO I highly recommend you wait to apply for any cleared position.


#3

Hi Amber! Quick question in regards to disclosing what’s on your credit report – if my spouse is in process for a permanent move into an IC position he’s already been TDY in for several years, but is now going hrough a BI after passing his FS poly, he met with the investigator a couple of weeks ago - how important is the exact matching of the monthly expense worksheet to the credit report?
We saw that the credit had been hard pulled a week prior to the meeting. We have no delinquencies, bad debt or anything. Just higher balances than were originally disclosed, but nothing crazy. Thanks so much.


#4

Not unusual to have discrepancies. A credit pull is a snapshot in time. If it is explainable it is understandable. If they see a delinquency they may ask about it, if you paid it, just give proof. If you are 650 or better on FICO and no other issues you should be okay. a 680 is “good”. If you are a 700 plus…no worries on credit.


#5

I started this process way over 2 years ago I had a 500 credit score fast forward to being in adjucation for 17 months I have a 710 now. Paid off all delinquent accounts and what not, and still actively processing. So I have no idea what’s going on, but on the bright side I got my finances in check and even bought a new car! Keeping the faith still, be strong everyone !


#6

Outstanding. Should you get denied, keep the faith and respond to the SOR with that evidence. Credit is a hard thing to revoke or deny on if you fix it. If you let ti linger it can result in denial. Fixing it is key.


#7

I just received a packet asking me to explain my finances give proof of payments etc. Said it could lead to a denial so provide sufficient proof. At least they gave me a chance to explain and provide proof without issuing a denial or a SOR. Guess it’s a courtesy for waiting almost 3 years. Idk.


#8

Essentially they let you work your finances for a long time to get healthy. Hopefully they are better off now than when you submitted. Get into a payment plan with everyone. All of them. Submit proof you are in a payment plan. Anything short of compliance will result in a denial. This is your opportunity to shine. Work hard to get FICO above 650. If you can get to 650…and stay on top of payments you should clear if no other issues are present.


#9

Yea I’m almost at a 700 now. When I submitted I was in the low 5s. I submitted everything I had so the wait begins again.


#10

Outstanding! If no other issues I predict a clearance. Finances and recreational use of drugs continues to be the big issues. Personal conduct issues which is a broad topic is high on the list as is foreign influence. Fixing finances is the key, higher than a 680? You are entering the sweet spot.


#11

@Justwaitingforever23 Did they send the packet to your FSO or home?


#12

6 of one, half dozen of another…if e get it we call them. If they get it…they tend to sit on them and not respond. We prefer us to get it.


#13

@amberbunny What if you have moved and they send it to the old address?


#14

If it shows up on a credit report you can call and address.