Credit & Loans

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A Servicemember’s Guide to Student Loan Interest Rates

Since August 14, 2008, the Higher Education Opportunity Act has also made it possible for servicemembers to use the SCRA to have their interest rate reduced to six (6) percent on federal student loans that were taken prior to their entry into active duty.
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Pension Advances: Not So Fast

If you're looking for ways to generate cash to make ends meet, a pension advance may sound like the solution. However, before you sign on the dotted line it's important to know what you are getting yourself into. Terms may be hidden and you could find yourself in a bad deal!
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Interactive Form - Auto Lease Termination

The Purpose of the Service Members’ Civil Relief Act (SCRA) is to provide protection to service members who have difficulty meeting their financial and legal obligations because of their military service. If you are called to active duty for at least 180 days, then you may terminate a motor vehicle lease duty without paying an early termination fee or other penalty. The motor vehicle lease must have been signed before being called to active duty.
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Cell Phone Contracts and the SCRA

The Servicemember's Civil Relief Act [SCRA] can be helpful if you need to cancel or change your cell phone contract because you are a servicemember who has received new military orders for more than 90 days to an area not supported by the contract.

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Interactive Form - Letter to Request 6% Loan Interest Rate

When you go on active duty, it may be hard to keep up with all of your credit payments. This is especially true if you have loans with high interest rates. The Servicemembers Civil Relief Act (“SCRA”) may allow you to reduce your rate of interest on those pre-existing loans while you are on active duty. This federal law sets a maximum interest rate of 6%. (This includes service charges, renewal charges and fees.)
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Interactive Form - Letter to Request Lower Credit Card Interest Rate

As a member of the Armed Forces, Reserves, National Guard or other uniformed services, you have some financial protections for you and your family when you are called into active duty military service.

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Credit and Debt Collection Overview

Consumer credit issues affect us all. Here are the answers to a few of the most commonly asked questions.