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 … Read more

Army Soldier Wants to Fix His Credit After a Messy Divorce

“Dear Steve, 26yr old Army soldier trying to fix credit after a messy divorce a few years back. I was deployed, she decided to leave, and stopped paying on just about everything that was in my name without my knowledge. Upon my return, I joined “freecreditreport.com” to continuously monitor my credit and my debts, and … 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” … Read more

Got Student Loans While on Active Duty in Army. I’ve Defaulted. – Justin

“Dear Steve, 12 years of military service. 1 bad decision to get student loans while active duty. I have accrued some debt with student loans while on active duty and have defaulted because I am overseas and don’t have the info for the lenders and now Im afraid they are going to take my tax … Read more

My Narcolepsy Has Left My Army Husband And I in Trouble. Military OneSource Sent Me to You. – Leslee

“Dear Steve, I am wondering if you know a way to help us. We are a family of three. My husband, my six year old daughter and myself. We are stationed in Hawaii. My husband is the US Army. We are in very much need of financial guidance. In the last year, everything has plummeted. … Read more

My Husband is an Army Recruiting Commander and We Can’t Afford Our Bills. – Enisha

“Dear Steve, We desperately need help. We have 3 children in our home (total of 5). We are in financial ruin. So much so that it has prevented my husband from getting a promotion. He is currently a Recruiting Station Commander in the Army. We have sacrificed and moved a few times to help progress … Read more

Former Employee Defrauds United Nations

Jeffery Armstrong was found guilty on nine counts of wire fraud in over $100,000 of salary payments by holding concurrent jobs at both the National Labor Relations Boards (NLRB) and the United Nations (UN). Back in June of 2011 Armstrong was indicted on nine counts of wire fraud for his scheme to defraud the UN … Read more

I’m an E5 in the Army. Should I Go With Wites & Kapten Instead of Bankruptcy? – Vic

“Dear Steve, Well i’m about 40k in debt. I’m and E5 in the army. I have a security clearance. I got a letter from wites and kapetan. Its sounds decent. Has anyone heard of them. should i go with them. I can not file bankrupcy because of my clearance. if i did that, my clearance … Read more

I Am On Active Duty in the Army in Iraq and Have a Lot of Debt Back Home. – Henry

“Dear Steve, Im a home owner, a land owner, two cars, two credit cards(both maxed out), and some other credit through the Army I am paying on. I am an active duty soldier in iraq at the moment. I total my debt at close to 120,000 dollars or so. The house is with gmac, land … Read more

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 … Read more

I’m Active Duty Army in Iraq and Need to Deal With My Debt Back Home. – Howard

Howard “Dear Steve, I have a lot of outstanding debt that I have not paid on in 5-6 years. I fell on hard times and stopped making payments altogether and completely lost track of my debt. I’m guessing that I owe $30,000 between a truck, boat, and other creditors. I went back into the Army … Read more

I’m an Active Duty Army Mother of Three, Deployed and in Debt. – Amanda

“Dear Steve, I am active duty Army deployed single mother of 3. While I was in basic my spouse maxed my credit cards and took all my belongings. I am now deployed trying to settle my divorce and take care of my children on my own. The credit that was maxed just continues to grow … Read more

I’ve Been Called Back to Active Duty in the Army. What Do I Do About My Car Payment and Bank Loans? – Larry

Larry “Dear Steve, I have been called back to active duty. I do not make as much on active duty as I did on the civilian side. I am currently selling my house but even with it gone I don’t make enough to pay my car note and my bank loans. How do I fix … Read more

Jenni Can’t Make the Car Payment and is Behind on Rent and the Clutch Just Went

Jenni “Dear Steve, I am behind on my car payment. I can’t pay my rent this month. The clutch just went out on my car. I work two jobs but I can’t get to them now that my car is broken. I joined the Army but I don’t leave until January. How can I get … Read more