Furloughed flexer's

[glasspilot]

Most depressing thread ever. Sorry guys. I sure hope it works out for all fellow pilots.

 

[GSXR600]

perm bank mmmmm...I could do that!!

 

[GSXR600]

Sperm bank sorry for the typo

 

[-FlyAuburn-]

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.

 

[brokeflyer]

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.

 

[Go Fly]

Not quite right...

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......

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.

 

[amaineiac]

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.

 

[Sammy]

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.

what type of flying r u doing in indonesia? airline, business, military, etc...

 

[Sammy]

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.

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

 

[V1 Rotate]

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.

 

[Flex-ible]

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.

Just remember the FAA's motto: "We're not happy until you're not happy."

 

[johnnyride24]

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.

Did you Father Octo Mom?

 

[CherryBomb]

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

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...

 

[can99]

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!

 

[fivefootnuthin]

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