I am outstationed and want to pay my debts
Date: Thu, 05/31/2007 - 14:22
Thank You,
Roby Green
Hi Roby, it will be good for you to find out the actual status o
Hi Roby, it will be good for you to find out the actual status of each account. If they are too old, they must be close to getting removed from your credit report as per the FCRA laws. Any latest payment will renew the SOL period from the beginning and the negative will stay longer in your file.
There are a few legit companies that will handle your debts but I am not sure if their services will be available outside the US. You need to talk with different companies and get the deal.
Being in the military on active duty, you have additional rights
Being in the military on active duty, you have additional rights extended to you with regard to credit obligations. Military members should make an appointment with the local Judge Advocate General's office if contacted by a collector. The Soldiers and Sailors Civil Relief Act (SSCRA) provides protections for military members whose financial life is affected by military service. Visit the Department of Army's web site for information on how the SSCRA applies to military members.
http://www.tradoc.army.mil/opja/la/sscra.htm
A couple points I will quote:
Quote:
A service member who enters into an installment contract prior to entering active duty is protected if the member's ability to make payments is materially effected by military service. Here the courts will compare the service member's pre-service income and military income to determine the member's financial condition. The seller is also prohibited from exercising any right or option under the contract, such as to rescind or terminate the contract or to repossess the property, unless authorized by a court order. Although you can prevent repossession, your obligation for the debt is still valid, even after entry on active duty, and the creditor may take other action, such as garnishing your pay, in order to enforce his rights. |
And:
Quote:
If, prior to entering active duty service, a member incurs a loan or obligation with an interest rate in excess of 6%, the member will, upon application to the lender, not be obligated to pay interest in excess of 6% per year. This relief applies during the period of active duty service unless the creditor can prove in court that the soldier's ability to pay was not materially affected by military service. This provision obviously may provide a very significant benefit to soldiers with pre-service credit card debts, car loans, etc. The cap includes service charges, renewal charges, and fees. The rate cap is applied to the outstanding balance of the obligation as of the date of entry onto active duty, and the amount of the contractual interest charge above the statutory ceiling must be forgiven entirely, not accrued. |
You might need to contact an attorney here in the States to help you. Try naca.net and find an attorney in the area where you live when home.
