SC Renewal - Financial Diffs

[Flyboy1973]

Up until Dec 2010 I was working at an MOD Aerospace/Defence contractor since 2007 and held a full SC clearance. Since then I have moved to a civilian aerospace comapny but have an opportunity to return to the Aerospace/Defence world. My SC clearance ran out in March of this year, so obv need a renewal, problem is, I have had some financial difficulties over the past 12-18 months which are now on the way to be managed and addressed.

My record shows 5 defaults, 3 of which are being legally challenged as they were only recorded once I started legal proceedings against those three companies for basically taking the pi** with charges and interest. I can explain the other two as simply overextending my credit and missing some payments. The accounts should now be up to date.

My concern is that this could hinder my SC renewal. The position is not financial and I have held an SC since 1998 with NO concerns over any security issues and my references have always been tip top.

Anyone any similar experiences or words of advice. I am assuming an honest and candid approach with the DVA should be OK, as long as I can show I am responsibly addressing these issues.

Cheers

[JoJoGabor]

Just be honest, you should be fine. SC is to detect people who deceive, some financials blips shouldn't cause an issue, you could potentially be blackmailed about them if they didn't know about it beforehand

[Flyboy1973]

Thanks, I fully intend too, nothing to hide and nothing they wont see wnyway.

Seems my renewal is happening after only 3 years (puzzling) instead of 5 for contractors at BAE Systems. Who decides this?

[northernladuk]

There is a sticky at the top of the page that might help as well.

[Flyboy1973]

Thanks, it helps a bit. Im more interested in how they normally deal with such things. I just think Honesty is the only policy and as long as I show I am comfortably dealing with my debt I dont see a problem.

[northernladuk]

Thanks, it helps a bit. Im more interested in how they normally deal with such things. I just think Honesty is the only policy and as long as I show I am comfortably dealing with my debt I dont see a problem.

Debt isn't particularly a problem in iteself for SC. It is wether or not you are open to blackmail or selling secrets. If you are seriously in debt and may have to resort to such desperate tactics you will have a problem. 'Standard' slip ups many people make isn't.

Bearing in mind though SC is about trust if you lie about even the slightest thing you are screwed. Be honest you will be fine.

[Flyboy1973]

Thanks for the advice.

My monthly bills inc debts only make up about 55% or our household income so are more than manageable. As you all know, on a permies salary, that could be a problem, but on a Sub Con income, its more than fine.