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Veteran Services: Finance Questions

Finances

You're working, and you've got a family that depends on you - both now and down the road. Where do you invest your money? Do you borrow against the equity in your house? Through a preferred provider relationship with USAA, The American Legion can provide expert financial advice to just about any question.

Questions & Answers

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Financial Questions & Answers

Question:

I am dealing with a GI Bill that was incorrectly reversed during my senior year of college. I am now facing collections and want to preserve my credit and secret security clearance. How do I handle this debt? – Ryan

Answer:

We would recommend that you make payment arrangements with the collection agency while officially requesting a review of your situation by the Department of Veterans Affairs. Unfortunately, when it comes to your credit, it doesn’t matter if it was their error or yours. A collection entry on your credit report will haunt you for years, but we’re not sure if it will hurt your ability to maintain your security clearance or not. From what we understand, the government is primarily concerned with large amounts of debt on the books and not administrative issues.