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Tag Archives: Navy

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

military

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

    Military

    “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 »

      I’m in the Navy. How Can I Tackle Private Student Loans in Default. – Theresa

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      “Dear Steve, I graduated from college in 2006 with a BA and then enlisted in the Navy. I have been in the service now for 6 and a half years. I have about $116,000 in private student loans that are in default. I don’t make enough money to take care of my living expenses and send money to my family ... Read More »

        Retired From the Navy and Now Can’t Sleep Because of Our Debt. – Elio

        Navy

        “Dear Steve, I am so glad to have come across your website. I am presently in a situation for which I need help. I have recently retired from the Navy. Unfortunately my income has dropped by approximately 70% and my expenditures have increased, i.e. monthly co payment/deductibles for Health/Dental insurance. I thought I could manage all my obligations as soon ... Read More »

          I’m an E-4 in the Navy and Broke. – Donek

          121112-N-LP801-092

          “Dear Steve, i am and E-4 in the USN. i have a credit card payment, car payment, and a personal loan from my bank all in all equaling about 500 a month. all this on top of my regular bills. all of this i can normally handle however with in the last 3 weeks we have been in 3 car ... Read More »

            I’m a Navy Veteran and Need Your Advice to Become Debt Free. – Amanda

            Ready to Collapse

            26 y/o female, Navy enlisted four year veteran. 5500 dollars in personal credit card and loan debt. 1100 dollars worth of bills every month (636 towards car, insurance etc. monthly bills towards debt are 464). 1600 dollars a month income approximately 9 months out of the year from GI Bill. Unemployed. No savings. I was with the US Navy as ... Read More »

              When I Was in the Navy Someone Used My Name and Social Security Number to Buy a Bowflex. – Roberto

              Ready to Collapse

              Someone used my name and I’m now getting informed about me owing for a bowflex that I never ordered and I didn’t even live at the State it was sent to. I have been in the Navy since 2003 to 2007 towards the end of my enlistment someone used my social and ordered a Bowflex under my name and credit ... Read More »

                Do I Need to Have an Open Arm Revolt Agains the Government? – Gary

                Ready to Collapse

                “Dear Steve, I have read a few of the articles on your site. Almost 2 years ago I went trough a bankruptcy and before doing so my wife and I went through all of our savings and even our IRA’s. My wife was doing real-estate full time, even thought I did not like it, it was what she wanted, so ... 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 »

                      Navy Tells Jonathan to Contact Me For Advice

                      Ready to Collapse

                      “Dear Steve, I’m a 30 year old married man, 2 children. My wife lost her six figure a year job in real estate, since then, we have lost two homes to foreclosure, 1 vehicle repossessed, and 15 major credit cards maxed out and not paid for 2 yrs+. Everything is in collection. We have about $1.2 million in un-paid debt. ... Read More »

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