A Creditor Violated My Rights While I Was Deployed. Here’s What to Do Right Now.
A creditor, landlord, or repo company may have broken federal law while you were deployed. Here’s how to invoke your SCRA rights and get it fixed.
Active Duty Military
Chicago Man Gets 27 Months for Scam Targeting Active-Duty Troops Through Social Media
Scammers posed as senior military officials on social media and stole $165K from newly enlisted troops. The red flags and your federal protections
Veterans in Financial Crisis: The Debt Protections and Options the System Won’t Tell You About
Veterans have a 6% interest rate cap, foreclosure protection, and bankruptcy rules that shield disability pay — but fewer than 1 in 10 ever get the benefits they earned.
Wells Fargo Military Class Action Sent to Arbitration — What Active-Duty Service Members Need to Know
A federal court recommended sending the Nowlin v. Wells Fargo SCRA class action to arbitration. The key ruling: the MLA arbitration ban only applies to accounts opened after October 3, 2017. Here’s what military borrowers need to know.
Military Debt: When It Helps and When It Hurts
Quick Answer: Military families facing unmanageable debt should prioritize contacting Military Family Relief Society and base financial counselors before considering bankruptcy, as they offer emergency assistance and debt management programs. With $60K debt and insufficient income to cover payments, bankruptcy may be necessary, but no one faces jail time for consumer debt.My husband and I …
Military Mortgage: When It Helps and Hurts
Quick Answer: Military families on active duty receive foreclosure protection under federal law, but this doesn’t eliminate the debt obligation. While NationStar cannot foreclose during active duty service, the unpaid mortgage balance continues to accumulate interest and fees, creating larger financial problems when military service ends.“Dear Steve,My husband’s employer did drastic pay cuts in 2009. …
Military Retirement Debt Free: What to Do
Quick Answer: A military family with $35K credit card debt and good credit scores but poor debt-to-income ratio should use a debt calculator to explore options like accelerated payments, debt consolidation loans, bankruptcy, or debt settlement. Taking out a loan to pay off credit card debt simply transfers the obligation to a different creditor rather …
My Husband is Active Duty Military and I Can’t Make Ends Meet. – Carrie
Quick Answer: A military family with $2,623 monthly income faces $2,220 in fixed expenses plus $18,000 in debt, leaving virtually nothing for food and necessities. The primary issues are excessive credit card debt, a $340 car payment on a gas-guzzling Durango, and $200 monthly phone bills that need immediate reduction.“Dear Steve,My family and I are …
PCS Orders: What to Do With a House You Can’t Sell
Quick Answer: Military members with underwater homes due to PCS orders should first contact a HUD Housing Counselor to explore lender modification programs. If unsuccessful, strategic default and bankruptcy may be necessary to discharge remaining mortgage obligations, though this could impact military clearance status.“Dear Steve,You answered a similar question from an active duty member regarding …
