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Tag Archives: air force

DOD Purposes Lending Rule Change to Protect Military Families From Abusive Interest Rates


The Department of Defense is proposing changes to the Military Lending Act (MLA) to extend financial protections for military members and in turn, their families. The MLA limits the amount of interest that a creditor may charge on “consumer credit” to a maximum annual Military Annual Percentage Rate (MAPR) of 36 percent. Not that it’s a fabulous rate. It appears ... Read More »

    I’m in Dire Need of a Debt Consolidation Loan. Lending Club Turned Me Down. – Kevin


    “Dear Steve, I am in dire need of a debt consilidation loan. I applied with Lending Club and did not get approved due to my credit score. I am in the military and im able to afford a consilidated payment i just need to be approved. Do you have any advice what so ever? Kevin” Dear Kevin, The different branches ... Read More »

      Air Force Veteran Facing Foreclosure and Lawsuits Over Credit Card Debt. – Elaine

      Ready to Collapse

      “Dear Steve, I live in Florida, am a 50 year old female, make only about $800/mo ($250 VA disability payment, $550 from a part time job), own a 2005 Toyota Matrix in fair condition and own nothing else of value. I am an air force veteran and being treated through the VA. The last time I held a full time ... Read More »

        Retired Air Force Member In a Mortgage Pit After a Divorce. – Cortland

        Dr Strangelove 8 Ride

        “Dear Steve, I’m hoping you can point in the direction where I can get some assistance. Long story short, I’m retired AF (retired in July 2010) and own a home that I purchased in 2003 when I was on active duty. As a result of a permanent change of station move while on active duty and a divorce 2005), the ... Read More »

          Credit Cards and Government Student Loans Need Debt Relief and Debt Advice to Enter Military. – Paul

          Ready to Collapse

          Sir, I wanted to ask you what my options are concerning my credit card and government student loan debt, as it seems that everyone has special interests and they are not primarily interested in helping you first when it comes to debt relief. When I went to college in 2003 right out of high school I was a full ride ... Read More »

            I’m a Disabled Air Force Veteran and Can’t Afford My Car. – Deborah

            “Dear Mitch, Used car. I started out July 2007 paying over 30% interest. Car is Mazda RX-8, 2004. I signed a contract for 7 years with some bank to pay $440.00 a month for 7 years. Now car payment is in collections since April or May of 2011. I’m retired disabled Air Force Veteran. I’m living on limited income now. ... Read More »

              When I Was in the Air Force I Bought a Vehicle That Got Repossessed. – Diana

              “Dear Damon, I purchased a vehicle in FL while I was PSCing to SD for the Air Force. A year later (2005) it was repossessed due to me being unable to make the increased payments that they imposed. The last contact I had with them was in October of 2005. I was just served with papers in April 2011, which ... Read More »

                Will My Security Clearance Be Denied? – james

                Ready to Collapse

                I have about a little over $3,000 in debt with no established credit history. I do intend to pay off this debt in time. About $2,000 worth of the total debt is owed to the Dept. of Education. I don’t think this is substancial enough to matter just would like some input. Thanks! Will a top secret security clearance be ... Read More »

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

                  Ready to Collapse

                  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 Sailors’ Civil Relief Act (“the ... Read More »

                    I Was In the Navy and Air Force and Now I Need to Get Debt Free? – Marilyn

                    Ready to Collapse

                    Marilyn “Hi Steve, I’m really deep in debt and don’t know how to start getting out of it. Every time I research an article thinking that it could be helpful, I get discouraged because I don’t think I can adjust it to my situation. Let me begin. When I got out of the Navy, I started receiving credit card offers, ... Read More »

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