Military Significant Others and Spouse Support - MilitarySOS.com
Results 1 to 10 of 10

Thread: Servicemember's Civil Relief Act (SCRA)

  1. Fresh Newbie
    gaylezgirl's Avatar
    gaylezgirl is offline
    Fresh Newbie
    Join Date
    Aug 2010
    Posts
    5
    #1

    Servicemember's Civil Relief Act (SCRA)

    Advertisements
    My husband recently joined the army and under the Servicemember's Civil Relief Act (SCRA) I sent letters to his creditors(credit cards and the mortgage company) and they lowered our interest rates to 6%. What about my credit cards? I didn't send them anything because, though my husband is an authorized user, they are in my name. Do you suppose I could send them the same letter and get those interest rates dropped as well?
  2. Looking for the sunshine...
    Jayo's Avatar
    Jayo is offline
    Looking for the sunshine...
    Join Date
    Sep 2007
    Location
    San Diego
    Posts
    13,586

    #2
    Not sure, why not just do it and see what happens. I'm thinking though that sense he isn't the "owner" of the account, only a user that this act won't apply. YOU are still liable for the payments, not him.
  3. MilitarySOS Jewel
    His*PITA*'s Avatar
    His*PITA* is offline
    MilitarySOS Jewel
    Join Date
    Aug 2008
    Location
    Somewhere over a rainbow
    Posts
    69,415

    #3
    I have to agree with Jayo, I believe it would have to be HIS card in order to use that, not just him being an authorized user. You could always try though, person on the phone may be sympathetic to the situation and try to help...
  4. Happy wife...happy life!
    Victoria's Avatar
    Victoria is offline
    Happy wife...happy life!
    Join Date
    Aug 2006
    Location
    SoCal
    Posts
    38,347
    #4
  5. Do or do not... There is no try.~ Yoda, Jedi Master
    Crystal's Avatar
    Crystal is offline
    Do or do not... There is no try.~ Yoda, Jedi Master
    Join Date
    Jun 2007
    Location
    "Well, if there's a bright center to the universe, you're on the planet that it's farthest from."
    Posts
    53,549




    #5
    Quote Originally Posted by Jayo View Post
    Not sure, why not just do it and see what happens. I'm thinking though that sense he isn't the "owner" of the account, only a user that this act won't apply. YOU are still liable for the payments, not him.
    I'm not Lynn, but we ARE MSOS Best Friends and MSOS Twins.
  6. The Decider
    Brianna Banana's Avatar
    Brianna Banana is offline
    The Decider
    Join Date
    Dec 2008
    Location
    Tempe, AZ
    Posts
    12,773
    Blog Entries
    1
    #6
    Your creditors are not required to lower your rates since you are not the service member. However, not all creditors are completely familiar with the ins and outs of the SCRA, or may be feeling generous, and will grant you that anyway.

    Example: The SCRA only applies to financial "burdens" acquired before he entered the service. However, K bought a car a few years into his AD stint, and when he was recalled, faxed USAA his orders and they still lowered his rate to 6% for his new AD period.
    Next time you shop on Amazon, click through this link to help an amazing veterans' organization!

    My 101 blog
    The Arizona Oenophile. Wine snobbery!


    Lovin' up on WiggleWiggle~ since 04.06.2011!
  7. You are here.
    Frybread's Avatar
    Frybread is offline
    You are here.
    Join Date
    Jul 2008
    Location
    SoCal
    Posts
    23,977
    #7
    Quote Originally Posted by LittleRed View Post
    Your creditors are not required to lower your rates since you are not the service member. However, not all creditors are completely familiar with the ins and outs of the SCRA, or may be feeling generous, and will grant you that anyway.

    Example: The SCRA only applies to financial "burdens" acquired before he entered the service. However, K bought a car a few years into his AD stint, and when he was recalled, faxed USAA his orders and they still lowered his rate to 6% for his new AD period.
    Quote Originally Posted by Jayo View Post
    Not sure, why not just do it and see what happens. I'm thinking though that sense he isn't the "owner" of the account, only a user that this act won't apply. YOU are still liable for the payments, not him.
    ditto...you could try it, nothing to lose, but I would be prepared for them to turn you down. good luck. it can't hurt.
  8. Fresh Newbie
    gaylezgirl's Avatar
    gaylezgirl is offline
    Fresh Newbie
    Join Date
    Aug 2010
    Posts
    5
    #8
    Thank you all! I'll rewrite the letter to say "My husband recently joined the army" and hope that they don't know the rules Thanks again for the advice
  9. Banned
    gunsgirl's Avatar
    gunsgirl is offline
    Banned
    Join Date
    Jul 2007
    Location
    lost
    Posts
    17,275
    #9
    you can try, but most "know " the rules.

    also note- here- that the 6% is for 'existing balances" and if you charge anything watch your rates-

    a recent occurance- the bank lowered the members CC to 6% - he went out and bought a 900 dollar computer and charged it on said card, they raised his interest rate to 23% for the computer purchase but kept the 6% on the previous balance-

    so make sure you verify with the bank if it is on ALL balances or existing balances.
  10. Regular Member
    USAA_JJ's Avatar
    USAA_JJ is offline
    Regular Member
    Join Date
    Jul 2010
    Posts
    211
    #10
    Remember, the SCRA interest rate cap does apply to debts incurred BEFORE the member entered active duty. It applies to your husband's debts and any joint debts, however if he is only an authorized user the debt is not truly joint, so I don't think the credit card company would reduce the rate...but you could certainly make the request!

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •