Houses and cars are
considered secured debt.
All we ask is that you
state in writing how
you will get within
the IMB limits prior
to orientation. Many
people will sell or
rent their house. Cars
are usually sold to
pay off the car loan
and/or eliminate credit
card debt.
Check
the FAQ
pages for other
financial issues.
Remember
that student loans can
be deferred during your
time overseas. Work
through the regional
office and with your
lending institution.
Missionary or religious
work are not grounds
for deferral, but you
will be working for
a non-profit organization
and your income may
not reach the minimum
required to begin repayment
(don't worry, the dollar
amount may look small
but it will not reflect
provided housing, a
ministry budget or work
related travel reimbursement!).
We have not had any
Journeymen come back
to us and say that their
student loans could
not be deferred.
Other
financial issues:
The following are important
financial/ethical issues
that (if applicable)
should be explained
in a separate letter
included with your Part
Two Application materials:
We
appreciate your careful
attention to these issues
as you proceed through
the interview process
and your application.
Information shared will
be kept in confidence.
We appreciate your willingness
to place your application
on hold until your personal
debt is within the limits.
Please
e-mail isc-jman@imb.org
or call (800) 789-GoYe
(4693) for further clarification.
