My fiancé just got a car while in service but her interest rate is 20% can that be lowered to 6% or is it some sort of requirement that has to happen before hand she’s active duty but for the car while in service
As others said scra only applies to debts prior to entering service. But who is the loan through? I had one troop in a similar situation and we called them and they lowered the rate because their website said they stick to the spirit of scra and don’t do the bare minimum. I want to say it might have been Chace. Either way Google them, see if they have a scra phone number or chat then ask. Worst case scenario they just say no
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She has to get I before going active duty
Before service and dear lord get rid of the car
SCRA only impacts pre-service debt.
As others said scra only applies to debts prior to entering service. But who is the loan through? I had one troop in a similar situation and we called them and they lowered the rate because their website said they stick to the spirit of scra and don’t do the bare minimum. I want to say it might have been Chace. Either way Google them, see if they have a scra phone number or chat then ask. Worst case scenario they just say no