Servicemembers Civil Relief Act

[KBScobravert]

Has anyone ever used the Servicemember's Civil Relief Act to lower their credit card interest rates or for any of the other protections it offers deployed military members?

As a civilian working with US military deployed under orders the act applies to me and I am trying to lower my interest rate on a credit card. Maybe even using it to protect me from my fucking HOA that is starting to harass me (another story, another time).

from a website I found while researching
"SCRA also allows a service member to reduce the interest rate to 6% per annum on obligations entered into prior to entering military service. The interest in excess of six (6%) percent is deemed forgiven. In order to obtain this relief, the servicemember must provide written notice to the creditor along with a copy of the servicemember’s military orders."

yes, I know what Dave Ramsey would say. I am a plastic prisoner on this one.

[Forever_frost]

It's a good deal actually. I used it years ago but yes, I used it. It only covers debt you had when you enlisted, not that you obtained after you got out.

[KBScobravert]

It's a good deal actually. I used it years ago but yes, I used it. It only covers debt you had when you enlisted, not that you obtained after you got out.

From my limited understanding, and for me, that I can apply the 6% cap to all debt on a particular card that occurred before I fell under US military orders.

I found this while reading the threatening letters from my HOA management company playing fuck fuck games over my grass. These shits did a yard inspection in the neighborhood on the first day after 6 days of straight rain and thunderstorms. Well no shit the grass is needs to be cut. Even since the inspection it has been cut twice and they keep sending me letter threatening legal action (at my expense) over that first inspection. I can't wait to call them on Tuesday since they failed to respond to my hate email I sent last week.

[fastwhite99gt]

Use it, it works. One kind of downside is that some creditors stop reporting to the credit bureaus, said they do this to protect the deployed person in case their wife/gf/significant other doesn't pay bills like they are supposed to, the negative would not show up. Them not reporting though, means on time payments don't show as good either, but you can request a payment history to prove credit history if you need it later.

[Forever_frost]

Yep, on all debt before you were under orders. Use the hell out of it, I did.

[KBScobravert]

Called the credit card and they opened a request but it is in their interest to turn it down.

Just went to the DOD website to get a SCRA certificate to use along with my orders. Turned up with all "No" under eligibilities.

I am positive I read that it extends to civilians working under orders with a deployed unit. Time to dig some more.

[ceyko]

I am positive I read that it extends to civilians working under orders with a deployed unit. Time to dig some more.

I can't remember my scenario, but I do not recall this being true and had to get me wife to jump through some hoops to keep some stuff squared away. I think it may had something to do with her power of attorney not applying for something and me being unable to address it since I was on base elsewhere.

[ceyko]

https://www.justice.gov/sites/default/files/crt/legacy/2012/09/11/scra_qa_5-26-11.pdf

However, the SCRA does not
protect you or your dependents if you are a civilian or a contractor

[BP]

We used it on some student loans but ended up having to defer them because they restructured the payback based on our combined income. So it went from $180 a month for Sallie Mae to $600.

[fastwhite99gt]

It applies to civilians, as long as they are traveling on government orders.

[sosoe]

Below is who is covered;
(Army, Navy, Marine Corps, Air Force, NOAA, Public Health, and
Coast Guard).


So, if your orders are from the DoD and list you as an employee, you will not be covered. BUT, there are some financial institutions that will cover DoD workers. So, send in the orders and ask away.

Does your info (last name and social) show any results on the DMDC website?

[KBScobravert]

Below is who is covered;
(Army, Navy, Marine Corps, Air Force, NOAA, Public Health, and
Coast Guard).


So, if your orders are from the DoD and list you as an employee, you will not be covered. BUT, there are some financial institutions that will cover DoD workers. So, send in the orders and ask away.

Does your info (last name and social) show any results on the DMDC website?

the DMDC site showed my name and social I believe but listed "no" under coverage.

[mstng86]

I believe once you notified the debtor, bank, whoever, they have ways to verify your eligibility.

The biggest benefit is it can protect you from foreclosure.

It's design to help soldiers transitioning to military service.

[sosoe]

I believe once you notified the debtor, bank, whoever, they have ways to verify your eligibility.

The biggest benefit is it can protect you from foreclosure.

It's design to help soldiers transitioning to military service.

There is, here is the site.

https://www.dmdc.osd.mil/appj/scra/single_record.xhtml

Just need to use the SINGLE RECORD SEARCH input the social on the first two columns and last name and hit search. If you are covered under SCRA, and happen to have Title 10 orders then your Active Status should should as Currently Active and show the needed info.

[bird_dog0347]

FYI, law says max of 6% interest but Cap 1 knocks it down to 4%.