When members of our Armed Forces are on active duty, they’re putting their lives on the line to protect our freedoms. The last things they need to worry about are their families, their finances, their homes, and their cars.
Thanks to the Servicemembers Civil Relief Act, active duty servicemembers are afforded some financial protections while they’re on active duty.
Who is Protected Under the SCRA?
According to the Servicemembers Civil Relief Act, all servicemembers on active duty are entitled to the Act’s protections. This includes National Guardsmen and Reservists who have been called to active service for more than 30 consecutive days. It also covers commissioned officers of the Public Health Service and the National Oceanic and Atmospheric Administration. The SCRA protections kick in on the date the servicemember enters active duty, and are valid until 30 to 90 days after the servicemember has been discharged from active duty.
Learn more about:
- What “Your Ability to Pay to be ‘Materially Affected’” Means
- Reducing the Interest Rate on High-Interest Loans
- Car Loans, Installment Contracts, and Mortgages
- Vehicle Repossession
- Your Rights Regarding Storage Units
- Vehicle and Equipment Leasing
- Default Judgments
- Restrictions to Pay Garnishment
- Credit Report Repercussions
- Sample Letter to Request Interest Rate Reduction to 6%
