How Does the SCRA Affect Interest Rates?
The SCRA interest rate cap is 6%, but you must know when it applies. As a banker or lender, you have to be especially careful when calculating interest rates on loans to servicemembers. So, how do SCRA requirements for lenders …
View more7-Point SCRA Requirements for Lenders
Lenders can’t comply with the Servicemembers Civil Relief Act if they aren’t well-versed in 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 staff member …
View moreDoes the Military Pay Off Student Loans? An In-Depth Look
It is common knowledge that millions of Americans have student loan debt. Over 43 million Americans have amassed more than $1.3 trillion in debt for student loans. Paying off loan debt is anything but easy. While getting an education is …
View moreDefending Service Members: The Military Lending Act Explained
Being part of the military has plenty of privileges. Unfortunately, financial obligations can hinder service members from focusing on the job. That is why military members are given special protections like the Military Lending Act (MLA).
The MLA limits the …
View moreMilitary Debt Collection Law: Understand Your Rights
Nobody likes hearing from debt collectors. If you’re part of the military, military debt can pose risks to your status, promotions, and career. Military debt is just like any other type of debt. Primarily, it can affect the military personnel’s …
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 …
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