Save Your Security Clearance with a Bankruptcy

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Hundreds of thousands of North Carolinians rely on government jobs, Armed Forces or Department of Defense positions for their livelihoods. Many of these jobs require security clearances that range from low level secret clearances all the way up to advanced security access. One factor that is considered when issuing or renewing a security clearance is your financial stability. If you have financial problems, the good news is, bankruptcy can potentially keep you from losing your security clearance.

Why Finances Matter for Security Clearances

There are a couple of different ways to look at finances related to national security. First is because if you are deeply in debt, the government may consider you susceptible to bribery or malfeasance because you may be desperate for money to deal with your debts. Second is that they may see you as someone who is simply a rash or poor decision maker or prone to making risky decisions. Most people who betray their country do so for money. Some are motivated by debt and still others simply by greed, but the saying that money is the root of all evil seems relevant to national security.

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Why How You Handle Your Finances Matter for Security Clearances

Just because you are in too much debt doesn’t mean that you are a bad risk. Instead, how you got into debt and how you deal with your debts matter. If you routinely run up debts with no intention of paying, that’s a security red flag. If you are behind on your debts because of some sort of upheaval such as a job loss (and you’re now applying for a DoD position), divorce or medical problem (yours or a family member’s) then that will be a mitigating factor. One of the main things they are looking for is whether you unintentionally rather than deliberately ended up in too deep.

Why Security Clearances Matter in North Carolina

Department of Defense, government and military jobs are great jobs if you can get them. And once you get them you don’t want to lose them over an issue with retaining or renewing your security clearance. These are some of the few jobs left in America that come with paid retirement, good benefits and a healthy dose of job security.

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There are eight military facilities in North Carolina where military, civilians and DoD personnel work: Pope Air Force Base (Manchester), Seymour Johnson Air Force Base (Goldsboro), Fort Bragg (Fayetteville), Air Station and National Strike Force (Elizabeth City), Camp Lejune (Onslow), MCAS Cherry Point (Havelock) and MCAS New River (Jacksonville). VA facilities and other government offices also employ personnel who are required to maintain security clearances.

Why Bankruptcy Is Better Than Debt for Security Clearance Review

One thing you may not know is that when it comes to a security clearance check or review, bankruptcy isn’t a bad thing – as long as you weren’t being shady about accumulating your debts. If you were running up your credit cards and amassing debt just because you could and then filed chapter 7 to unload the debt just because you could, that’s a bad sign and bankruptcy won’t help you with your security clearance issues. But if your debt situation was not intentionally created and you’ve tried to deal with it, then opting for a well-timed bankruptcy can be seen as a smart decision and can help you hang on to your security clearance.

John T Orcutt has helped over 20,000 North Carolina families get a financial fresh start through bankruptcy and is ready to help you now. If you’re in the military, work for the Department of Defense or other government entity, your debt dilemma could cost you your job. Don’t let it get this far. Contact us now for a free consultation on your unique circumstances so we can offer you the best solution to keep your clearance secure!