Military members' debt adds to the stress of deployments, frequent moves and training. The Servicemembers Civil Relief Act, Armed Forces Legal Assistance Office, Installation Support Centers, and Military Relief Organizations are valuable resources to help manage and get out of debt.
Servicemembers Civil Relief Act (SCRA)
SCRA helps deployed servicemembers and those entering the military or called to active duty. This law protects servicemembers from eviction due to nonpayment of rent that is $1,200 or less a month. Interest rates on credit cards cannot exceed 6 percent on any cards established before active duty. Soldiers should contact their credit companies via a certified letter explaining their active duty status along with their orders.
Armed Forces Legal Assistance Office
The Armed Forces Legal Assistance Office on military installations can help any U.S. military ID card holder. The JAG officer gives legal advice and assistance in dealing with debt collectors, credit card companies and landlords. The information shared with the JAG is confidential and, unless they have your permission, will not be reported to your supervising officer or your chain of command.
Military Relief Organizations
Military relief organizations are nonprofit organizations that can provide grants, interest-free loans, tuition assistance, and other financial help to military families in times of financial crisis. They give grants and loans for one-time financial emergencies such as emergency travel, rent and medical expenses, not for purchasing a home, vehicle or other nonessentials.
Installation Support Centers
Military installations offer support centers that assist members of the military and their families with financial counseling and advice. The Navy has the Fleet & Family Support Center, and the Army has Army Community Services Center. Depending on the installation, the programs offered can include budget counseling, debt management, financial classes, and information regarding financial assistance programs. To get information about these programs, search the website of your closest military installation for its support center's contact information and list of programs. These programs are offered free or for a nominal fee for all Department of Defense cardholders.
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