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No. Under the law a lender cannot make an adverse credit report based on a servicemember’s exercising his or her right to get a reduced interest rate under the Servicemembers Civil Relief Act.
The Servicemembers Civil Relief Act (SCRA) provides military personnel and their dependents protections when it comes to issues related to mortgages and housing. If you are on active duty and obtained a mortgage before you went on active duty (also known as ...
The Servicemembers Civil Relief Act (SCRA) says if you enter into a car lease and later get orders to Permanent Change of Station (PCS) overseas or to deploy for at least 180 days, you can terminate the car lease without ...
No. Under the law a lender cannot revoke or reduce your credit because you have exercised your right to a reduced interest rate under the Servicemembers Civil Relief Act.
Think carefully about this decision. You have certain protections under the SCRA for a loan you took out before you entered active military service that would not apply to a loan you take out while on active duty.Under the SCRA, ...
The Servicemembers Civil Relief Act of 2003 (SCRA) gives you and your family many financial protections. Among other things, the SCRA provides that the interest rate on pre-service financial obligations may not exceed 6% during military service, protects you against ...
If you financed your car through your dealership and you made a payment on your vehicle before you entered active duty, the SCRA may protect your car from repossession while you are on active duty. Check with your local JAG ...
Many finance companies will not let you move your vehicle to a base overseas. Don’t trust the dealer’s word – get it in writing that the lienholder will allow you to move your car to your overseas base (many do not, ...
If the loan was obtained by the servicemember, or jointly by the servicemember and spouse, prior to active-duty military service, then the loan rate is capped by the Servicemembers Civil Relief Act of 2003 (SCRA) at 6% during active-duty military ...
As a general matter, under the Servicemembers Civil Relief Act (SCRA), while you are on active duty, if you notify your creditor, the maximum interest rate you can be charged on any amount you owed before entering active-duty service is ...
