Debt managemaent

DEBT MANAGEMENT - IN-SERVICE SUPPORT

Normally service personnel experiencing financial difficulties should consult with their Line Manager, who should be their initial point of contact and can provide guidance on the best source of advice depending on the seriousness of the problem. Unit pay staff can provide basic advice in such matters as the conduct of a bank account and are well placed to provide advice on personal finances and, in particular, the impact of pay and allowance matters on income.

Indebtedness. All Service personnel are expected to manage their own financial affairs responsibly. Such matters are usually regarded as private and personal. However, exceptionally, where the Services become directly involved, for example by complaint, administrative or disciplinary action may be taken. While the Services will counsel and advise personnel who are in debt, irresponsible indebtedness is likely to affect an individual's employment and career. Persistent indebtedness may lead to an individual being discharged from the Services.

Seeking Early Assistance. Those service personnel experiencing difficulties with their personal finances are often reluctant to discuss the problem with their line management in the belief that such disclosure may damage their career and lead to their discharge on the grounds of financial irresponsibility. Although there are some circumstances associated with security when an individual will have to inform the Service authorities about his/her problems, approaches to Service community support agencies - such as SSAFA Forces Help (The SSAFA Forces Help central office is 0207 4038783, who will provide local contact numbers) will usually be protected by their codes of confidentiality. Families and dependants may also approach Service community support agencies with the same degree of confidence. The limited number of discharges for financial irresponsibility that do occur are mainly associated with those who have attempted to hide their difficulties and have not sought, or refused advice and support. Those who have wisely sought early assistance are much better placed in every respect.

Remedy. Admitting that you are struggling and seeking help is an important first step towards resolving your debt problems. Don't be embarrassed or ashamed to disclose all your debts and financial difficulties because ignoring the problem and not replying to correspondence will only make things worse. Your problems will not go away without specific remedial action.

Here are some positive things you can do: