Foreclosure Affects Security Clearance
A Twitter listener asks how a foreclosure will affect a security clearance. Dave says it could cause you to lose it.
QUESTION: A Twitter listener asks how a foreclosure will affect a security clearance. Dave says it could cause you to lose it.
ANSWER: Anything that damages your credit affects your security clearance. The number-one reason people in the military or related fields lose their security clearances is financial problems.
If you lose just a portion of your security clearance or lose it altogether, it bumps you down a pay grade or two. Guess what you need while you’re deeply in debt? Less pay, right? That doesn’t work. Thus you get yourself into a deeper problem.
As we work with the military, we find this to be one of their biggest issues. One of the largest reasons for dishonorable discharge is financial irresponsibility. One of the biggest problems with security clearance being blown and thus being moved down a pay grade or two: financial problems. Financial problems are a readiness issue in the military. When military personnel have MasterCard and the car’s being repoed back home running around in their brains, it affects their readiness for battle in combat, high-stress situations. It affects productivity in the corporate workplace, but that’s not life or death. Corporate America is waking to financial wellness as an issue, but with the military, it’s life or death because it’s literally a readiness issue. If you don’t have your mind on the job in the military, you can get killed. If you don’t have your mind on the job in Corporate America, customer service goes down.
Foreclosure definitely affects security clearance. It can blow it out of the water—no pun intended.