SAVANNAH, Ga. (WJCL)
Help is out there for military dealing with debt. Credit counseling agencies can help restore good credit and The Soldiers and Sailors Civil Relief Act can also be a big help.
A study by the National Foundation for Credit Counseling and The Ohio State University found military members face a unique set of challenges.
Deseeree Gonzalez says, Were moving again soon. Were looking for any way to cut costs. Shes married ot a Marine and is facing a common military problem.
Frequent relocation is a constant drain on the budget. It can also lead to other problems.
Karen Lavery works for Consumer Credit Counseling of Beaufort SC She says, They get transferred and find out the wife does not have the job like she did before so they are stuck with one income.
Lavery counsels hundreds of military to help repair their credit. She says in many cases careers ride on a clean credit report.
She says, A lot of the military (need) security clearance and to get it they need good credit.
The Soldiers and Sailors Civil Relief Act can also help military dealing with debt.
Lavery says, If you get deployed to another country you can go to your creditors, banks etc. and have them reduce your interest to 6 percent. A lot of people dont know that.
There are many provisions in the the Soldiers and Sailors Civil Relief Act that work for active duty personnel. They are designed to allow the soldier to think clearly without worrying about evictions or crushing debt.
Consumer Credit Counseling Service of Savannah can tell you more.
If you know of a good guy contractor who might be able to help Mr. McGlohon or if you have a consumer issue Ask Asa. You can Tweet him at @AsaAaronsSmith or email firstname.lastname@example.org.
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