The Servicemembers Civil Relief Act (SCRA) provides relief to Servicemembers, Reservists, National Guardsmen and civilians called to active duty that have received orders for deployment. The Act provides that loan interest rates be reduced to 6% and that any repossession, foreclosure or seizure cannot be done without a court order. Any new debts incurred during active duty are not within the scope of the SCRA. Any knowing violation of the rights provided by SCRA is a misdemeanor, punishable up to one year imprisonment and a $1,000 fine, or both.
For details or to exercise your rights under this Act, please call us at 972.348.2290, or 800.843.5295, Ext. 2290.