Career Path > Navy Nuke
I need, a lot, of help.
JustinHEMI05:
--- Quote from: talitore on Jun 30, 2008, 06:30 ---Hello, I have a few questions.
At my two year point, I did what a lot of Navy Nukes do, I star re-enlisted. I got an SRB in the amount of ~$48k.
That's about 19k up front, after taxes. Shortly after, 6 months maybe, I was discharged, Honorably, do to an Alcohol treatment, failure.
As I'm sure you've guesses, I got a check in the mail, for about 28,000, owed to the DoD. I'm guessing my initial bonus was added in there.
I am 22, husband, and father of one. I did pick up a decent job working at the county water plant, making about $20/hr.
My question is simple. Is there anything I can do to reduce, or not have to pay this exorbirant amount. They want it back in 3 years. Heh, needless to say, its not going to happen. If there are any resources or anything anyone can do to help, please, point me in the right direction.
I have not searched these forums for an answer to my question, I apologize if it has been answered before. I really don't have the time to look. Wife and I are working off hours of each other to prevent a babysitter.
Thanks in advanced.
--- End quote ---
Number one, learn how to use commas.
Number two, call DFAS. They are very helpful and will be willing to work with you to set up a more feasible pay back plan. I had several young sailors with overages that had to be paid back, and DFAS was willing to work with them every time.
As far as you not paying back to the Country that which you owe, good luck on that. You didn't earn the money therefore you should, and in all likelihood will, have to pay it all back.
Justin
JustinHEMI05:
--- Quote from: 93-383 on Jun 30, 2008, 07:59 ---20K$ repay in 36 months is around mid 500’s. That’s a big chunk of change but you probably need to figure out a way to do it. If your finances are truly in dire straights talk to an attorney. Don’t go to a dept buying service, currently you probably have no interest on the “loan” so pay it back in the 36 month time frame. If you do not pay it back it is likely that the IRS will take action to collect and that will ruin your credit rating (so will bankruptcy)
--- End quote ---
That is not entirely true. They will charge interest on the debt owed, although it will not be much. 3-4%.
Justin
Nuclear NASCAR:
--- Quote from: talitore on Jun 30, 2008, 07:53 ---I just don't understand how they can expect someone to pay that amount of money back, in that little of time. Especially considering it was an honorable, and I was getting discharged in the first place.
--- End quote ---
I'm sure if you check your paperwork that you've got language in there that specifies that you'll have to pay it back if you don't fulfill your obligation. (Your reenlistment period) That being said, work your way toward acceptance of your situation and then accept the advice given. Read past those reminding you that you've made a mistake and show that you're ready to take responsibility for your actions.
At this point in your life that is a ton of money to pay back, especially in that short of a time period. Get in touch with your creditor, explain your situation, do your homework ahead of time, and see what you can work out. Listen to Marssim, he is another of the great assets here.
93-383:
--- Quote from: JustinHEMI on Jun 30, 2008, 09:14 ---That is not entirely true. They will charge interest on the debt owed, although it will not be much. 3-4%.
Justin
--- End quote ---
That kinda sucks.
Like others have said contact DFAS work out a payment plan DO NOT IGNORE this problem it will only get worse.
NJ:
I commend you on asking for help. I think there are some hard statements here that are true and some harsh. You have a lot on your plate with your wife being ill and a young child. The first thing you need to do is get into an AA group this is your first step. You are young and can pick yourself up by the boot straps and make the best of your situation. I was married to an Alcoholic and it is not what your wife needs now. She has enough to worry about without worrying about you and what would happen to your little child. She needs to know she can count on you to be there for her and the baby and if she doesn't make it you will be a rock. The money will work out itself just make arrangements. Nothing is as important as your family.
This man needs some support not criticism on his problem or his sentence structure.
Good luck to you and God bless you.
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