just graduated boot camp! how do i get my interest rates lowered on my car & credit card? what am i supposed to do? also, what other things can i do to help me out (financially) now that i’m officially enlisted? thank you all in advance.
Posted by svpernovuh
2 Comments
The Servicemembers Civil Relief Act (SCRA) limits interest rates on debts to 6% for service members who incur liabilities before entering active duty. This includes credit card debts, car loans, mortgages, and other debts, as well as fees and service charges. The reduced rate applies from the time the service member enters active duty until they are no longer active. For mortgages, the reduced rate continues for one year after active duty. -PS just copied and pasted that from google. And watch YouTube, if you look at older post about the same questions you’ll find more answers than waiting for replies.
Go talk to your commands financial personnel. For navy it’d be the command financial services