My Husband is on a security hold, help! :(

[Sarah]

After months of being on hold and being done with a school since October, my husband just found out that the reason he is on hold and stuck in his a school location is because of student loan debt and I guess his car loan. It's less then 50000 but i understand that's a lot. I hate that were just now finding this out. I am freaking out because they told him he will be stuck there until this gets figured out meaning he pays off some debt. I miss him so much and was moving there but now I can't because I have to pay off some of his debt. He's also been so mean so this has just been hard. If you know any advice to give me or your sailor was in this position, I would appreciate anything. I want him to get out of there. He wants to get out of there. We've been together for 7 years and married before he even knew he was going to Join do the distance has been hard. My husband said he has to show proof that he's paying on his debt. I just need advice. I'm stressed!

[heidi86]

First: Sell one or both of your cars, which sound like they are beyond your means, and buy something cheap to drive, which you can afford to pay cash for, from the proceeds of selling your expensive cars, thst you owe so much money on.

Second: Google 'Dave Ramsey', and listen to his radio show. He taught me how to get out of debt. One thing is, I never buy a vehicle I can't afford to pay cash for. My whole household drives $3000 dollar cars/vans around town. We have one car which is newer, and more reliable for longer trips. But we also paid cash for that. Otherwise, if it gets you from point A to point B, it doesn't matter what s vehicle looks like, and I love my cars, because I own them, not the bank.

Car loans are one of the biggest financial headaches, as you've discovered. I'll never have a car loan again.

[Najul]

great advice :-) Car loans are such a waste of money.  

Sarah - thanks for sharing, because you did and because my daughter needs a security clearance as well, we are helping her to buy a car cash (she's saving, we're saving) so that she has no debt except minimal student debt. I'm hoping that keeps her out of the stressful situation you are in.  I hope you've got some closure, even if you have to sell cards in the short term and buy one cheap used one, it's worth it if he gets to continue on with his career which will help the two of you in the long run. 

[Concernedad]

I am a financial advisor and work with Dave Ramsey. I absolutely agree with his philosophies about saving and being out of debt, however, I'm not on board with buying cheap cars for cash. I've owned cars that were paid off, but spent more in repair bills than had I just financed a cheap car. Not to mention, breaking down on the side of the road can lead to you losing your job for not showing up on time.

As to Sarah's situation, I'd be very curious as to who reported her husbands credit debt? Surely, the Navy isn't now running credit reports on all sailors? How are they even doing this without the sailor signing off on it? 

[WearsLargeHats]

I'm a bit late to this discussion, but for anyone who doesn't know, the application for a security clearance gives the Navy and OPM the right to investigate absolutely everything. Poor financial health is considered a security risk.

[Sarah]

I never got rid of my car for a "crappy" one. We have spent way to much money on it to let it go. 

He is still on hold. I have no idea bc im 900 miles away. He may try to change his rate. It's sad bc he is such a great guy. 

[madhoby]

Use the plan by Dave Ramsey.  Total Money Makeover.  I have used it for 6 years and paid off 200,000 in debt.  My husband and I are down to only 40,000 dollars left.  You both can do this.  Get on the same page for how money should be handled and get really serious about it.  

[CryptoDad]

[AZNavymom]

That's hilarious.  I just visited NAS and I doubt some of these kids have even graduated yet and have cars like this.  Yikes!

[Sarah]

This actually disappointed me. We are responsible adults. We are both college graduates long before he even decided to join. We pay our bills on time etc. Sure there may be some young adults just in who buy nice cars but that doesn't apply to us. Luckily, what they buy at 18 is their business. They will have to live with their consequences. Nobody has a right to judge.

[Sarah]

We don't have amazing cars. We have a jeep liberty and a mazda 3. Neither are fancy inside or out but thank you.

[Cornelia]

Who told him that this is the reason he is on hold? Was this from a superior, or directly from the clearance investigator? 

Has he not been paying on his debts? If they're asking for "proof" that he has been paying, I assume that his credit report might be showing late or delinquent accounts. If you start paying and demonstrating good faith efforts to meet your financial obligations, that might be all that's needed. It seems strange that in today's world where SO many people have student loans, they'd deny him just based on the fact that he is carrying the debt.  

[CryptoBiz]

yes…totally agree with this…something isn't right here.