No announcement yet.

Debt and waivers under certain circumstances

  • Filter
  • Time
  • Show
Clear All
new posts

  • Debt and waivers under certain circumstances

    I've done a little research and found that you essentially can't join the military or get stuck scraping barnacles or mopping floors if you have unpaid debts. Basically they keep you in an extremely low risk environment for the sake of trying to make sure you don't die before you pay off what you owe.

    Is there truth to this? I've found you can get a waiver depending on what kind of debt such as student loans. My particular case is farmland which is usually set up on 25+ year notes. I can have my father cosign as he will be the one I rent it out to for cattle anyways and it would also be TOD to him.

    So given that he would basically be a partner in the land purchase and therefore debt, would I still be able to be waived on since the debt for the remaining years would be taken care of by the TOD to my father of it came to that since the land produces income and he would like to have it anyway?

  • #2
    Yeah, if you have a co-signer on something, then they're going to your pops if they can't go to you, which means they've got another person they can hold responsible. That's very different from having debt in collections without a cosigner, like unpaid tuition or parking tickets or something. Probably a different story in the eyes of the Navy


    • #3
      Student loans aren't a massive issue I've heard. My friend contracted with a bachelors degree and something like 50k in debt from a major state school... Although it might be case by case basis I'm not sure.