6% Interest Cap for Servicemembers on Certain Debts
Do you have debt incurred before you became a service member?
Under the Servicemembers' Civil Service Relief Act of 1997 (SCRA), you can request your creditor reduce your interest rate to 6% on "unsecured" debts.
Unsecured debts are ones not secured by a lien or specific assets, and can include credit card debt, student loans and personal loans. This interest cap can make a huge difference in the long run, especially on high-interest credit cards.
To schedule a legal assistance appointment to speak with a JAG about whether your debt qualifies, call 910-394-2341. We can draft a request letter to send to your creditors.