Lucky you! I had two closed with no settlement. Pathetic!

 

Regardless of what you call it, it’s free money.

I agree that not all money is good money but:

if put the money in at least a money market or higher interest savings of at least 5%, and don’t touch it until you get the signed paperwork from the company that the “loan” or whatever it is is forgiven, then you come out ahead. If you get a CJO from another or get fired or otherwise leave before you get that’s paper, withdraw the money and interest and give it back. Unless I understand this incorrectly, it really is that simple.

And, if you can’t find a way for abstain from using part of the money before it’s forgiven, with todays FO pay, I would seriously wonder about your decision making in other places.

WTF. Take the money from Franke and smile. He doesn’t give it willingly often…

Three years from now, pay the taxes and use the rest to take your significant other on a nice vacation. Then get hired at mainline and leave.

 

The loan goes into the F9 books as an asset. It goes on the new hires credit score as a liability and effects their debt to income ratio. I know you realize the importance of credit and DTI when applying for things such as a home or car loan and interest rate. $52,000 over 36mo is looked upon as $1,400 per month outgoing debt when calculating DTI. Not to mention, you sign away the possibility of taking FMLA or a short term LOA of any kind without paying back the loan with interest.

 

Didnt know it was considered an actual loan from credit reporting purposes…where is that written?

smh - what kind of company loans it’s employees a bonus?

 

Yeah, it needs to be verified if it’s reported to the credit agencies. Knowing Frontier I doubt it but still, it needs to be clarified.

 

Got any proof of that? I've never seen a promissory note show up in a credit report...

 

Everything they communicated to our class, they said it was not a credit pull/reported or anything of that sort. It may have been on the call they set up for us (BL and some others did a call over Teams, for our class on Nov).

Now if you left and didn’t pay it back, then they came after you legally (as prescribed in one of the first paragraphs of the promissory note), that’s another story. But as for now we have been told it was not a credit pull or report. I think everyone would have given it back had that been the case.

 

a SLEEZY one

 

Great... knowingly violate the very same CBA you'll be working under from day 1. Hotels for new hires is also a CBA violation as upgrades and commuters pay for their own....it is clear they're both CBA violations and pilots willingly doing it...we are our own worst enemy...yeah welcome to Frontier....🙄

 

Ofc there are a few that do this, like various regionals' retention bonuses which must be paid back if you don't flow to their major or retire from the regional. The sleazy part about F9's bonus however is that it is not so cleverly designed to be a "pre employment" bonus so it's outside of our contract. I wonder if a judge/arbitrator would see it that way.. a transparent attempt to circumvent our cba. On the other hand, that also makes you wonder WHY this isn't covered by our cba.