Category Archives: Military Related

Soldiers Wounded by Debt, Not Bullets

by Paul Kiel, ProPublica, and Mitchell Hartman, Marketplace, May 15, 2013, 5:50 a.m.by Paul Kiel and Krista Kjellman Schmidt, ProPublica, May 15 This story was co-produced with Marketplace. Listen to their coverage. Seven years after Congress banned payday-loan companies from charging exorbitant interest rates to service members, many of the nation’s military bases are surrounded [...]

How to Discharge Your Student Loans if You Are in the Military, Police, or Teacher

More and more at GetOutOfDebt.org we are getting questions about how to get your student loans eliminated, forgiven, or discharged if you are in or served in the military, police officer, teacher, librarian, or other public service employee. It is absurdly ironic that members of the military can go into harms way, fight in combat [...]

Military Debt Management Agency MDMA Hits Military and Consumers for Student Loan Help

A tipster (send in your tips here) sent me a fee schedule from the non-profit credit counseling group Military Debt Management Agency (MDMA) in Florida. The reader was concerned that this non-profit 501(c)3 IRS approved charity that is supposed to be helping military members and general consumers was taking advantage of those with federal government [...]

Tax Scammers Target Military Members for Identity Theft

Spread the word, scammers are targeting military members with new scam using .mil email addresses. The IRS is reporting taxpayers should be on the lookout for a new, email-based phishing scam now circulating that targets Department of Defense military members, retirees and civilian employees. The email appears to come from Defense Finance and Accounting Services [...]

CFPB Targets Those That Try to Financially Scam Military Servicemembers and Their Families

The Consumer Financial Protection Bureau recently announce their new initiative aimed at scammers that try to take advantage of military service members, their families, and veterans. The Repeat Offenders Against Military Database (ROAM) is designed as a single focal point of information about financial scams for local and national law enforcement to utilize to quickly [...]

Can I Get Out of Debt Being Bipolar, Suicidal, Mentally Ill and on Disability? – David

I have a mental illness. I had mental illness all my life. In fact, in 2008 I wrote a suicide email and emailed it to local news station. In 2009, I was diagnosed with bipolar personality disorder and ADHD. In 2010, I borrowed a lot of money to remodel the house. The first mortgage on [...]

Active Duty Soldiers Harassed For Debts With Threats Of Family Being Arrested

photo © 2007 The U.S. Army | more info (via: Wylio)I would like to preface this next news story with my exact facial expression. I encourage you join me. Please, if you would, raise your eyebrows, drop your jaw about an inch and let the fire rage in your eyes when you read about this [...]

Military Members Drowning in Debt

My friend Michelle Singletary of the Washington Post had a great column recently talking about the amount of debt military service members are carrying. It’s a topic worthy of discussion and awareness. The article points out that: Military personnel and spouses are generally heavier users of credit cards than civilians, the survey found, and they [...]

Divorce in The Military: Protect Your Financial Future

If you’re going through a divorce, you’re probably exhausted by the emotional upheaval and the day-to-day details of carving out a new, separate life. Separation when you or your spouse is a member of the military can pose special concerns, like division of military pensions or survivor benefits. One thing that’s easily overlooked — or [...]

How Being in Debt Can Affect Your Military Career

Being in the military poses unique problems for military personnel and their families. Sometimes, as a result of circumstances like relocation or deployment of a spouse, a military member may fall behind on payments of his or her debts. A person who is behind on payments may be viewed in the military as irresponsible, even [...]

How the Soldiers’ and Sailors’ Civil Relief Act Can Help You

Service personnel experience financial difficulties that are unique and need special attention. Fortunately, there are special laws to help them cope and this article discusses their rights and protections under the Soldiers’ and Sailors’ Civil Relief Act, 50 U.S.C. §§ 501 et seq. What is the Soldiers’ and Sailors’ Civil Relief Act? The Soldiers’ and [...]