Ok so my question is, my husband is active duty and hes already served in afganistan last year and will be goin to iraq soon...but i heard about the soldier a sailor relief act from another army wife friend saying they will only lower the rate if hes overseas,and i was wondering...since hes not currently deployed right now, will our creditors still change our interest rate to 0 or 6% even though hes not gone YET?, and if so what do i need to do and say to them to have them change this over...its crazy hes been in over 2 yrs and we were never told about it...please help thank you!
2007-08-06 19:02:19 · 10 answers · asked by young army wifey 2 in Politics & Government ➔ Military
Having went through this a few months ago I can tell you it works like this...... The credit card companies can lower your apr on credit cards while he is deployed, but only if you got the credit card before he was active duty, otherwise they do not have not put you on the plan. It all depends. Some lower it to 6 percent and I know the STAR card puts it at 5 percent. Some are more willing to work with you than others. You will need , enlistment papers, deployment orders and P.O.A. to handle all the paperwork. It only will start once he is gone.
2007-08-06 19:11:09 · answer #1 · answered by ladyusmc 2 · 3⤊ 0⤋
this lowering of interest rates is primarily for Guard and Reservists who are called up and face a loss of income from their civilian full time jobs.
Upon initial entry into the military, it can be done BUT it ONLY applies to debt you have at the time of entry. anything since then would NOT be eligible.
After 2 years I think you would have a hard time getting anyone to lower your interest on whatever is left of any debt you had two years ago.
2007-08-07 01:51:17 · answer #2 · answered by Mrsjvb 7 · 0⤊ 0⤋
It doesn't apply. It was instituted for soldier who got drafted and lost the amount of pay they were receiving. Since your husband is active duty his pay hasn't changed. In fact it will increase if he's deployed to Iraq or Afghan. Hazrad pay, combat pay, and the fact that pay earned during deployment in combat is exempt from federal tax. Sorry. If its changed from that, its been since Desert Storm.
2007-08-07 12:48:37 · answer #3 · answered by GRUMPY 4 · 0⤊ 0⤋
It doesn't matter to the creditors unless you tell them. And It doesn't apply to you, but only to his name. He/you will need to fax over a copy of his orders once he gets deployed again. If you didn't in the the past then it doesn't count. Oh and it depends on the creditor.
2007-08-06 21:52:11 · answer #4 · answered by Maximus82 3 · 0⤊ 0⤋
i wont pretend to know all the facts, you are going to have to do the legwork yourself. (with all the pog's in the army, its a shame you have to, but thats the fact of the situation)
but i do know that the sailor-soldier relief act is intended for deployments and pcs-ing, but we just used it for a soldier getting a divorse and getting him out of a lease. you do need your co's approval and etc. as for your situation, you will be told many things and get conflicting answers here, but keep digging and pushing, dont wait for someone to tell you information, keep calling and hounding poeple....and eventually you'll get your answer.
2007-08-07 02:23:27 · answer #5 · answered by finbar3131 2 · 0⤊ 0⤋
The soldiers and sailors relief act, only effects loans you had, before you enlisted.
And I don't think it would effect credit cards at all.
At most, it might effect the interest rate on the balance you had on the credit card, before he enlisted.
2007-08-06 19:17:12 · answer #6 · answered by jeeper_peeper321 7 · 2⤊ 0⤋
From what I know having to use it for my husband is that it is only for deployed soldiers.....Are you in contact with your FRG? I know I used it for the star card when he was deployed....I got his phone on stand by hold when he was deployed but, nothing when he was home!!!I know you can cancel a contract on a cellphone when he is depolyed!
2007-08-06 19:07:35 · answer #7 · answered by Anonymous · 1⤊ 0⤋
As far as I know, this program is for currently deployed soldiers only.
No benefit when he is at home.
Please contact your FRG leader and you will be able to get all the information you need about how to apply.
I'm really surprised that your serviceman wasn't informed about this before; it's one of the first things discussed with my son and his family as he prepared for his deployment and did that mountain of paperwork.
2007-08-06 19:13:53 · answer #8 · answered by Army mom 5 · 1⤊ 1⤋
Since its a joint account, they should lower the interest rate on the whole account. As said above, you should speak with legal. A quick phone call or letter to LL Bean should change their minds.
2016-04-01 03:05:03 · answer #9 · answered by ? 4 · 0⤊ 0⤋
https://www.jagcnet.army.mil/JAGCNETInternet/Homepages/AC/Legal%20Assistance%20Home%20Page.nsf/0/0806a532899687ce852568a800531506?OpenDocument
2007-08-06 19:05:44 · answer #10 · answered by Anonymous · 1⤊ 0⤋