Filing for Bankruptcy When in the Military

: Reese Baker & Associates

  Filed under: Filing bankruptcy

flagThere are many individuals that are in the military that have run into financial difficulty. This can be very difficult especially if they are stationed away from home. There can be several reasons for this. Perhaps their finances were precarious when they joined the military, or extra expenses have accumulated while they have been away on duty.

Detailed Duties

Their concern about filing for bankruptcy is how it will affect their military career. In some positions within the military there is a set of criteria that must be met to protect the security of national secrets.

For personnel in the military that are going to fill these positions they are often subjected to high-level security clearances which include a lot of questions about their finances in some areas. They may be asked if they’ve had any delinquent accounts in a certain period of time, or if they have ever had their wages garnisheed in the past, or any judgments against them. In most cases for those that are heading into a bankruptcy these circumstances is often the case.

It is highly important that military personnel that are contemplating a bankruptcy do so under the advice and guidance of an experienced bankruptcy attorney in Houston. There are special factors that are brought into play in bankruptcy for military personnel where they receive special rights. These may be under the service member’s civil relief act. This act it has been put in place so that military personnel are able to focus on their career responsibilities rather than having to deal with financial problems.