Anonymous
Buena Park,#2Consumer Suggestion
Wed, April 01, 2009
first off, thank you, to your wife for serving our country! There may be a misunderstanding with this issue. The SCRA or SSCRA (soldiers & sailors civil relief act) is an act submitted for Active Duty soldiers only. Not an "active member". you stated your wife was assigned to Fort Campbell, KY. This act protect soldiers who are currently fighting in iraq overseas. If your wife is not overseas then this act is not for her. If she is, however, ACF will need verified paperwork from army stating that is she currently in active duty (overseas). Once all paperwork is complete, ACF automatically lowers any APR you are currently at to 6%. Which obviously drops the monthly payments and adjusts the loan. Of course this only works once again if she is in "active duty" and especially if she is on the car loan as well. If it is just your name on the loan then this will not effect you personal account. As far as the deferments go. Unfortunately there are costs to extend your loan with a deferment. ACF is not obligated to give deferments (((it is a privilege))). No where in the contract it states your are titled to a deferment. There are fees determining the state of your contract, how many late fees you have on the acct already, so and so forth. You can always ask if they can adjust the fee or not (((never hurts to try))). Hope this can bring a little more closure to you. Because really this is not a ripoff if your wife is not overseas on ACTIVE DUTY serving in Iraq. It is just a mere misunderstanding of the act (sscra).