Loans

When you go on active duty, it may be hard to keep up with all of your credit payments. This is especially true if you have loans with high interest rates. The Servicemembers Civil Relief Act (“SCRA”) may allow you to reduce your rate of interest on those pre-existing loans while you are on active duty. This federal law sets a maximum interest rate of 6%. (This includes service charges, renewal charges and fees.)

If you're looking for ways to generate cash to make ends meet, a pension advance may sound like the solution. However, before you sign on the dotted line it's important to know what you are getting yourself into. Terms may be hidden and you could find yourself in a bad deal!