character and fitness issues-- help me.

[alt]

Hi,

As I cheched on my credit report including three major credit report companies, I owed around $1000 to three companies.

I am afraid that this past due debts may affect the character and fitness test..

What should I do?  Should I reveal honestly the past due debts?  I can't pay them back for now because I am almost broke..

If I reveal the fact that I owed some money past due, is it OK to pass character and fitness test?

Any advice is welcome.

Thanks

[justanothersucker]

Try to pay your debts, if you can't declare bankruptcy.

As long as you not "unethical" you should be fine.

[fortook]

$1000 isn't too bad.  Disclose.  I knew a guy who failed C&F because he defaulted on his student loans, but that's a far cry from $1000.  Talk to a prof about this.  You may want to hold off C&F to pay the k off.  I can't imagine such a small debt costing you your new career. Good luck.

[justanothersucker]

why not just pay it off? Take a private student loan (they give those away like candy) and just pay it off.  I was offered a $25K one by discover, chase,etc virtually every other week.

[fortook]

Ha, that's a good point.  I get offers for small loans or credit cards all the time too. Fiscally foolish, but practically sound.  Easy and effective fix.

[GGI]

Yes, honesty is always the best course of action. And makes you sleep at night.