Thursday, September 25, 2008

Soldiers and Sailors Civil Relief Act of 1940 (amended 2003)

Browsing the news today I came across a reference to the Soldiers and Sailors Civil Relief Act and noted that among other benefits, soldiers can have their interest rates on loans, mortgages and credit cards reduced, while on active duty.  This includes rates on debts incurred prior to active duty.  There are several other sections and benefits, as well.  This reference offers a simple explanation of the act.  This site offers a more complete explanation of the amended act (2003), for certain sections.  Finally, questions and answers from JAG

Maybe most soldiers and sailors and their families are aware of this, but it was news to me and I'd hate to see anyone on active military duty who needs it, to miss out.

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