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Furloughed flexer's

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Nolife

Nolife

Tired Member
Joined
Jan 23, 2003
Posts
547
Where have y'all ended up? I went back to what nature seems to have intended for me ... flying big boxes in small planes for smaller money.

BTW... since I got furloughed I called my credit card companies and tried to furlough them and they laughed at me. Any advice on bankrupcy verus just not paying for a while until I'm back on my feet.
 
well, sorry you`re in that situation..it sucks..if you dont pay your bills for x amount of time you go delinquent,,that could stay with you forever,,bad debt is suppose to be off your credit report in 7 years,,but if the credit card companies send the info again lets say in 5 years that 7 years starts again,,so youre basically gambling on the fact they will forget about you..if they get a judgement against you they can seize your bank account,,it happened to my brother,,they seized his checking account,,they dont care you have to put food on the table trust me...if you go the bankruptcy route,,theres light at the end of the tunnell,,your credits whacked,,but it would be anyway,,plus your bank account is safe..all this depends on how much youre in debt,,,if its a couple grand just work it out with companies,,if its major dollars go the bankruptcy route,,theres a couple ways to do it,,best thing is consult attorney,,hope it helps,,hopefully youll be off furlough soon......
 
I knew about the judgements and the 7 years negative however I didn't know they could resubmit the negative value after seven years essentially keeping your score down indefinately.

Wife moves toward bankrupcy I just don't want to have future employers discount me due to bankrupcy.

Damned if you do damned if you don't. :(
 
this is purely my opinion,,I think bankruptcy looks better then just blowing your creditors off,,bankruptcy shows that youre taking the steps to clean it up,,not paying,,well that looks like you dont give a sh*t...I say do what you gotta do...consult an attorney and they can spell out what filing chapter would best suit your situation..Hope it works out for you...oh yeah,,when a company charges a bad bebt off,,they either a,,just forget about it,,or b,,sell it to someone,,now here is where you get f_cked,, the entity that bought the bad debt for pennies on the dollar,,they want to turn the screws and try to get full balance from you,,you can bargain with them and maybe get away with paying pennies on the dollar,,but know this they will run against your credit forever,,they may wait til 6.5 years and run it agian which starts the clock over again..fyi
 
To answer first question, I got the military to take me back.

To answer second question, there are ways to deal with the debt without bankruptcy. The problem with debt reappearing comes about if you literally do nothing. If your finances don't let you pay anything know, one option would be to ignore them for about six months - then go back to them with a cash offer to settle. Word to the wise: don't offer to settle unless you have CASH to make a lump sum payment. Don't give them access to your checking account - send money orders only. Make sure you get an agreement in writing. After 6 months of no payments, you can probably settle for about 50% of the original amount (ignore the interest and penalties they keep adding). This dings the credit rating, but not as much as ignoring it or going bankrupt.

Check out www.daveramsey.com for professional advise on getting out of debt. His system has changed alot of lives.
 
I am also furloughed but I would do anything possible to honor my debts. Afterall, nobody forced you to take out these credit cards. But at some point you have no other choice. I wish you the best, if you are going to declare bankruptcy do it with style and milk it for all its worth.
 
Sorry to hear about the debt problems. I've been walking the line on that as well. Plus Im close to the bottom of the recall list. Ugh...

I don't know where you are based. If you are DFW based you might consider the Dallas Police Department. They, as with most PD's, are hiring. Dallas starts at 42k with a 10k sign on bonus. That sure helps with bills and its probably better than flying boxes. Not sure if law enforcement is your thing, but government jobs are fairly safe for now...

I was lucky to find a job in Indonesia. Its dang hot here but it pays the bills and all living expenses are paid for. If your wife is adventurous, most companies are willing to move your family as well. I have found out that once you get overseas, the opportunities start to multiply. I loved my job at Flex, but its going to be hard to leave this money and the QOL here. Round eyes can live like kings over here for very little money...

Good luck fellas.
 
amaineiac said:
+1

Declaring bankruptcy should be your absolute last choice. From what I understand, not all types of debt are forgiven during a bankruptcy either.
Click to expand...

Taxes and student loans never go away, even in bankruptcy.

If you have a car or house loan, they DO go away - but so does the house or the car.

Unless you are REALLY poor, the Court puts you on a pay-back plan that can extend 5 years - and can adjust annually if you start making more money.

Oh, and don't try the debt consolidation people - rip off artists who keep the first payments you make, send nothing to the credit cards, and you keep getting the nasty phone calls.
 
DUATS said:
Oh, and don't try the debt consolidation people - rip off artists who keep the first payments you make, send nothing to the credit cards, and you keep getting the nasty phone calls.
Click to expand...

Debt consolidation = no good. A REPUTABLE credit counseling service (usually faith-based) = good. It's been almost 20 years, but working with CCCS allowed us to avoid bankruptcy. With the IRS you're on your own, but they allowed me to negotiate a low payment. Just don't miss a one, or else they come after everything - immediately. Don't ask me how I know. With CCCS and some increase in our household income, our recovery from the financial mess we were in took about 4 years. Although the tax liens and other "bad credit" stuff remained on our credit reports for 7 years, the creditors were lining up to give us crazy credit limits in that short of time. Trust me, we've never gone back there.

The best advice here is from DUATS. Start by reading everything Dave Ramsey has before you do anything.
 
Has any of the ACP's or CP called you guys with an update or to see how your doing? If your really in need of money, I recommend the sperm bank. $50 per donation. When I was laid off a few years back, the extra $10,000 I made really helped me out. Keep your heads up guys.
 
bunman45 said:
Has any of the ACP's or CP called you guys with an update or to see how your doing? If your really in need of money, I recommend the sperm bank. $50 per donation. When I was laid off a few years back, the extra $10,000 I made really helped me out. Keep your heads up guys.
Click to expand...


I'm going to be a millionaire then.
 
I'm doing as much military as I can. Currently doing a few months out east...way east. Wife and kid not thrilled, but good pay, all tax free.
 
bunman45 said:
Has any of the ACP's or CP called you guys with an update or to see how your doing?
Click to expand...

No. A lot of the line pilots care enough to keep in touch though, which is really nice and always appreciated. Nothing from management, but I think it would be a nice gesture if they'd at least give us an official update once a month or so. Doesn't even have to be in depth, just something besides internet rumors and speculation. I won't be holding my breath.
 
Last edited:
Most depressing thread ever. Sorry guys. I sure hope it works out for all fellow pilots.
 
The FAA has received funding to hire 1000 aviation safety inspectors this year. There is an open job posting for this position that closes on Sept 30th.

Apply here:

https://jobs01.faa.gov/asap/default.ASP?WCI=p_Banner&WCE=ceAgree

I am seriously considering it as an alternative if I get furloughed this summer at NJ. Some of the requirements are 1500 total time, commercial or ATP, and 2nd class medical. It pays somewhere (depending on your equivalent experience and qualifications) between 41k and 77k. And of course it comes with government benefits.

My old boss and friend did this two years ago after closing his 135 business and seems to be liking it. He went to two months of training in OK City. A month of inspector training and a month of accident investigation training. They gave him a month off in between. He also just recently went to King Air initial at FSI to start doing some flight check work. (flying approaches to inspect ILS/LOC/VOR equipment integrity) They also pay for a certain amount of hours in small planes a year to keep you current.

Kind of like going to the dark side but not a bad alternative for a furloughed pilot looking for some stability.
 
I think its a great job. I retired from there about 10 years ago and loved it. Although doing 135 rides in a learjet was ok, you can find yourself doing CFI rides in a 172.
 
Not quite right...

aveator said:
well, sorry you`re in that situation..it sucks..if you dont pay your bills for x amount of time you go delinquent,,that could stay with you forever,,bad debt is suppose to be off your credit report in 7 years,,but if the credit card companies send the info again lets say in 5 years that 7 years starts again,,so youre basically gambling on the fact they will forget about you..if they get a judgement against you they can seize your bank account,,it happened to my brother,,they seized his checking account,,they dont care you have to put food on the table trust me...if you go the bankruptcy route,,theres light at the end of the tunnell,,your credits whacked,,but it would be anyway,,plus your bank account is safe..all this depends on how much youre in debt,,,if its a couple grand just work it out with companies,,if its major dollars go the bankruptcy route,,theres a couple ways to do it,,best thing is consult attorney,,hope it helps,,hopefully youll be off furlough soon......
Click to expand...

According to the Fair Credit Reporting Act (FRCA), a credit reporting agency CANNOT report a bad, unsecured debt for more than seven years after the last transaction was made. The problem is the reporting agencies do not police themselves and the debtors may not tell them the old report should be dropped. This means it is your responsibilty to monitor all three of your credit reports. If a debt is being reported that is not valid or is older than seven years, you must contact the agency reporting them and tell them to remove it. They will confirm the information with the debtor and if you are correct they will remove it. If they don't they are subject to a civil lawsuit. If the debtor says the info. is correct you'll have to take it up with them. By the way, most debtors report info about once a month. They wouldn't wait 5 years to come back and report it again so it doesn't fall off.

Here's where most people get in trouble. You've got a debt that's say five years old. A collection agency calls and calls and calls saying hey bub pay up. You're finally frustrated enough that you make a token payment to appease them. Guess what, you've just added a transaction to your acount. Now they can continue to report the debt for another seven years. If you hadn't made the transaction they could have only reported it for two more years.

As far as the original question of bad credit or bankruptcy. Bankruptcy looks at your current assets, including your home and equity, and may force you to liquidate certain things. They then take that money and split it among your debtors usually for pennies on the dollar. Basically, they tell the debtors what you can pay and they must live with it. When it's all over you are starting back at zero and legally protected against any further debt obligations from past debtors except for student loans and the IRS. The bankruptcy will stay on your credit report for at least 7 years, possibly 10.

If you chose to simply not pay your debts you also will wreck your credit for seven years. It's tough too. You can look forward to lots of calls from credit collectors although you do have some rights here too. The debtors have the right to sue you for a judgement including legal fees. Once this judgement is placed, it goes on your credit report and if you don't pay it you'll be in contempt of a court order.

Here's the flip side of that though. Most states place a three year statute of limitations on the collections of credit card debts. This means that three years after the last transaction they can no longer take legal action to collect the debt. It can however remain on your credit report for another four years. You can find the statute information for your state by googling the info. The state of jurisdiction is where you currently reside.

So all that being said here's my advice. Do everything you can to meet your financial obligations. Call your credit card companies and try to get the fees taken off, rates reduced and even skip a few months. Make a deal with them to not report the information to the reporting agences. Another thing to keep in mind is that they won't report a debt as deliquent until you are at least thirty days late. And even then if you make a small payment they'll usually not report you.

Bankruptcy is a last resort thing. If it has become impossible to pay your debts you probably have no recourse. Also, don't forget, somehow you're going to have to pay the bankruptcy attorney!

Best of luck to you, trust me, I know how much this hurts. I've been through it all before after two furloughs! The lesson I've learned is that as a pilot you must ALWAYS live well below your means and don't carry any unsecured debt. We also keep at least six months worth of bills in a money market so that if a furlough happens again we are covered at least for a bit. I know, easier said then done.
 
One other thing to add to this. Make sure you keep very detailed records of all correspondence and if anyone offers you any type of settlement, make sure it is in writing and send the important stuff certified mail. The debt collection agencies are truly bottom feeders and will throw you under the bus in a heartbeat.

Best of luck.
 
CherryBomb said:
Sorry to hear about the debt problems. I've been walking the line on that as well. Plus Im close to the bottom of the recall list. Ugh...

I don't know where you are based. If you are DFW based you might consider the Dallas Police Department. They, as with most PD's, are hiring. Dallas starts at 42k with a 10k sign on bonus. That sure helps with bills and its probably better than flying boxes. Not sure if law enforcement is your thing, but government jobs are fairly safe for now...

I was lucky to find a job in Indonesia. Its dang hot here but it pays the bills and all living expenses are paid for. If your wife is adventurous, most companies are willing to move your family as well. I have found out that once you get overseas, the opportunities start to multiply. I loved my job at Flex, but its going to be hard to leave this money and the QOL here. Round eyes can live like kings over here for very little money...

Good luck fellas.
Click to expand...

what type of flying r u doing in indonesia? airline, business, military, etc...
 
CherryBomb said:
Sorry to hear about the debt problems. I've been walking the line on that as well. Plus Im close to the bottom of the recall list. Ugh...

I don't know where you are based. If you are DFW based you might consider the Dallas Police Department. They, as with most PD's, are hiring. Dallas starts at 42k with a 10k sign on bonus. That sure helps with bills and its probably better than flying boxes. Not sure if law enforcement is your thing, but government jobs are fairly safe for now...

I was lucky to find a job in Indonesia. Its dang hot here but it pays the bills and all living expenses are paid for. If your wife is adventurous, most companies are willing to move your family as well. I have found out that once you get overseas, the opportunities start to multiply. I loved my job at Flex, but its going to be hard to leave this money and the QOL here. Round eyes can live like kings over here for very little money...

Good luck fellas.
Click to expand...

i used to stop in Koto Kinabalu, Malaysia for rest/fuel on the way to Thailand. very nice flying and little if any radar which I assume has changed
 
I agree with ProFracPilot.....read Dave Ramsey's books and listen to his show. I would HIGHLY recommend his book Total Money Makeover. Cheap, quick and easy to read book and will help you tremendously. Definately stay away from the debt consolidation scumbags. All they do is make you pay an upfront fee and tell you not to make any payments to your creditors until they're ready to settle for a lower amount. You can do that without paying them to tell you to do that.
 
bunman45 said:
Has any of the ACP's or CP called you guys with an update or to see how your doing? If your really in need of money, I recommend the sperm bank. $50 per donation. When I was laid off a few years back, the extra $10,000 I made really helped me out. Keep your heads up guys.
Click to expand...
Did you Father Octo Mom?
 
Sammy said:
i used to stop in Koto Kinabalu, Malaysia for rest/fuel on the way to Thailand. very nice flying and little if any radar which I assume has changed
Click to expand...

Still the same type of stuff. No radar, no reliable ATC, and local airliners lie about their positions in order to get approach clearances first. Its definitely a free for all. It seems two or three times a month a plane is flown into the ground, but being a third world country, the media doesn't care to report it...

I was lucky to get a job flying a Piaggio over here, because I had about 1000 hours in the thing. THe airlines are horrible. You have to buy your own type, and the pay is about the same as the regional airlines in the states...

The good news is that if you find a job over here, you can live like a king for very little moolah. But that being said, I still miss Texas women and my job at Flex...
 
I personally would give me left arm to go back and live in Malaysia or Singapore... but instead I make do with a gig in India.... I would give me left arm too to be back at flex , I miss hazmat heights...how sad is that!
 
Something to add about credit - NOT paying them is the worst thing you can do, and "settlement" payments are nearly as bad. One thing that can be helpful to overall credit health in the long term is, send them SOMETHING, and do it on time. Even if it's 5 dollars per month, send it - owed interest can always be negotiated at a later point, but the very WORST thing for your credit is +30, +60, +90 on your history for late payments. Sending them as little as 5 dollars on time will prevent that. BK, due to the rules changes some years ago (another gift from Bush) make it harder for people to clear the slate so to speak. Last option, IMO
 

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