What 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 …
View moreCourt Changes SCRA Expectations for Lenders
What are the SCRA expectations for lenders regarding the Servicemembers Civil Relief Act?
The interpretation of this longtime federal law has been that it is the responsibility of servicemembers to notify lenders when they believe they are due protections.
But …
View moreWhat Do Proposed Changes to Forced Arbitration and the SCRA Mean to Lenders?
Congress recently announced plans to re-introduce a bill to ban the use of forced arbitration in cases involving the Servicemembers Civil Relief Act. This move may prove to have a serious impact on lenders.
The bill, known as the Justice …
View more