CPL/IR - How Much Debt R U in?
 

I was just wading through my bank statements the other day when I noticed the amount of cash I owe the Bank. Ive calculated that I owe them around 3/4 of my body. £23,000 plus interest and around £5,000 to my parents. :eek:

How much does any other wannabe owe to their bank/parents/loan shark for completiion of thier frozen ATPL CPL/IR & MCC? Or was it just me who is in debt after my course finished? And how long do you think it will be before you pay it back!

Answers on a postcard... :D

Homer :rolleyes:

£32148.82 at last count inclusive of:

Night Rating + CPL course + IR course + MCC + Accommodation + column marked 'Miscellaneous' on Excel spreadsheet which includes items such as 'Clip-on Tie for IRT'.

Cheers for reminding me.

And in answer to the third question...


...the more preferable of 'when hell freezes over' and 'Never'

Note to self: 'get flying job'

sB x

[ 17 August 2001: Message edited by: sickBocks ]

[ 17 August 2001: Message edited by: sickBocks ]

Around £45,000 so far ...

Of interest to some of you might be that it's ended up costing me more to convert a foreign (New Zealand) FATPL to JAR, than it did to get the thing in the first place.

Half of that is a bank loan which I'm paying back as fast as humanly possible, the rest is a student loan payable to the NZ government, which I'll pay back when they travel halfway around the world and remove the money from my smoking corpse :D :D :D

This is an area that worries me. Once I've done the IR, I should have no debts at all as I've chosed to jump through all the hoops and keep my job at the same time. The down side is that it's taken me longer to get through it, and I wonder if this would be seen as lack of commitment in the interviews.

I have some fairly strong arguments to counter this, but it still worries me.

Seems strange to not have any debts and feel it would be advantageous to have a debt when getting a job.

There you have it

PS

About 10K now, god that feels better than this time last year! :D

SOMEONE MENTION BANK MANAGERS...?
http://www.stopstart.fsnet.co.uk/smilie/peepwall.gif


http://www.stopstart.fsnet.co.uk/air...neattitude.gif

Loads and loads. That much that I have given up worying about it now and that is just CPL/IR and renewed IR. Still got silly JAR ATPL exams to do after flunking CAA ones

Loads. About £20,000. Now factoring in an instructors rating that will add another £6,000 at least.

Luckily, a house that I own near heathrow that I rented out for convenience (I wanted to move and was locked in on the mortgage) has doubled in value in four years, so I at least have a chance of paying this down to reasonable levels.

debt-ridden foggy

£28k for course + £6k for FIC

All owed to bank, very nice parents and a little to a dead grandad (Cheers granpa)!

I estimate that when I start earning megabucks as an instructor I'll have it paid off in no time at all!!!!
:eek:

maybe not

about £30k, currently saving for an FI rating.. bloody hard work saving £6k when u have to pay the interest on £30k!!

Greetings Northern Hemisphere types. Pardon my ignorance but can someone please explain to me what a 'frozen' ATPL is? Nothing to do with an ATPL that has ventured into known icing conditions? ;)

Frozen ATPL - Have taken the ATPL ground exams but not enough experience (flying) to have the ATPL issued. Hence you get a CPL/IR and refer to it as a 'Frozen ATPL', so that potential employers will know that you have the ATPL exams in the bag and will get the ATPL as soon as you have the experience.

Thanks Sniff...must get me one of those frozen ATPL's.

At Last count about £30000.00 with an application in at the moment for £8000.00 to do the I.R, Borrowed £12500.00 from the bank
and £10000.00 from my sadly deceased
brother-in-law (Thanks Alan couldn't have done it without you) and rest self funded while working. That small fortune got me a
PPL, Night, IMC, ATPL Exams/Techs, Hour Building, BCPL Course (Thanks for all the
Bo**&!%ings Mike I really enjoyed those), Add on to BCPL course due to missing BCPL deadline by two days due bad wx , ME Rating
(Thanks Hugh, Peter, HomerSimpson) and finally JAR CPL(R) (Thanks Leeds Flying School), oh and before I forget the biggest thanks to my wonderful wife for supporting me while I have been enjoying myself.

It doesn't sound like a lot if you say it fast honestly.

Regards

Doleboy ;)