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Get Debt Relief During Military Service

Receive deployment orders is stressful for military families. Add financial worries and triggers the stress level. debt relief to military active duty military women and Service Members Civil Relief Act through offers. Follow these steps to find out how to get debt relief.

Recognize Service Members Civil Relief Act covers service personnel on active duty with the Army, Navy, Air Force, Marines, Coast Guard, National Guard, National Oceanic and Atmospheric Association, commissioned corps of public health services and US citizens serving with the armed forces of allied nations. Understanding what kind of financial aid can obtain Members Civil Relief Act through the Service.

Get Debt Relief During Military Service

Lenders are required to reduce interest rates on loans, mortgages, credit cards and auto loans to rate no higher than 6 percent. Monthly payments also must be reduced. Know how to get help.

When you are called up to active duty, send certified letter to your lenders, return receipt requested, explaining how your deployment will affect your income. Include copy of your deployment orders in letter. Notify company that carries your life insurance policy.

SCRA states that life insurance cannot lapse, be forfeited or canceled because of non-payment for active duty military. Become familiar with how SCRA affects other civil actions. Service personnel that have been called to active duty may request delay in bankruptcies, divorces, orders for wage garnishments and foreclosure proceedings.

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How to Get Debt Relief During Military Service

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