Relief Law Helps Soldiers Cancel Lease Agreements, Lower Loan Interest Rates
Posted on Apr 13, 2020 07:54 pm
The current stop-movement order has forced many service members to hold multiple lease contracts, causing significant financial stress on military families. Using the Service Member Civil Relief Act (SCRA), soldiers can terminate a lease agreement with a PCS move or deployment lasting more than 90 days.
Melissa Halsey of the Office of the Judge Advocate General says the first recourse should be to work out a solution with the landlord. “They should then ask the landlord to end their lease voluntarily,” said Halsey.
Halsey said that under SCRA soldiers also qualify for a 6 percent interest rate reduction for all pre-service financial obligations. This includes automobile loans, credit card debt, student loans and other forms of credit.
Photo by Airman 1st Class Alexandria Crawford
Post courtesy of the Association of Defense Communities