7 Point SCRA Checklist for Lenders
Lenders can’t comply with the Servicemembers Civil Relief Act if they aren’t well-versed in all of its many sections. Lenders who don’t retain legal advice to help them meet the many and varied requirements would do well to appoint a …
View moreWhat Are the SCRA Vehicle Repossession Rights?
As a lender or auto dealership, you are likely — and rightly — concerned with the SCRA vehicle repossession rights. It’s important to follow the letter of the law in these matters in order to avoid fines and penalties.
Companies …
View moreWhat are Common Myths About The Servicemembers Civil Relief Act?
The Servicemembers Civil Relief Act is an important law that grants special protections to those with active military status. The SCRA’s rules are sometimes confusing. This results in some people who do business with members of the military inadvertently …
View moreThe SCRA and Bankruptcy: Does it Apply?
Many lenders and business owners know the rules of the SCRA as they apply to civil matters. They know they have to get a military status verification before heading to civil court. But what about the SCRA and military bankruptcy …
View moreSCRA Car Loan: Can I Repossess Servicemembers' Vehicles?
While auto lending frequently involves smaller dollar amounts than mortgages and student loans, the number of auto loans is high. Almost 44 percent of Americans have a car payment.
Add to this the fact that interest rates are higher …
View moreHole in SCRA Allows Lender to Prey on Servicemembers
The Servicemembers Civil Relief Act exists to protect military personnel, who are often among the most vulnerable to questionable financial practices. This law requires lenders to perform an active duty military search before attempting to pursue collection strategies that go …
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