Credit and Debt, and the Active Soldier

Recent "News"

Published on March 30, 2005 By pseudosoldier In Consumer Issues

Some Creditors Make Illegal Demands on Active-Duty Soldiers - The New York Times Link

There's some good detail in there about what some of the rights an active duty or deployed soldier has when it comes to credit. Of course, going to see the Command Finance Specialist (assuming a certain amount of competency that may/may not be there) is the best option.

Military combating payday lenders - Philadelphia Inquirer Link

"Around many of America's military installations, payday-loan outlets have come to rival the old post standby, pawn shops. They often market to soldiers in advertisements featuring military references, patriotic symbols, and red, white and blue motifs.

What the signs don't show, say critics, are the high interest rates and pattern of debt and dependence that can result for some borrowers."

*gasp* The fiends! How they can sucker those poor, unsuspecting... Wait. How are they unsuspecting? I mean, we got briefed on this when we arrived to Fort Hood (it was in the same brief as "don't shack up with a "Magazine Girl" in a hotel over the weekend and sign away your next year's pay). These payday loan companies are notorious, but people (soldiers) keep getting suckered in.

Anyway, just hitting the highlights of what are rather old stories that are still being harped on in the news today (well, earlier this week, at least). These have both (personnel's ignorance of their credit rights and personnel's ignorance that payday loans are evil) been issues since I came in and, although that isn't a whole lot of time in others perspectives, that's still long enough for me to know that these are just those sorts of problems... the ones that don't easily go away, no matter how many times you tell "the kids", "No.""

Comments

Spc Nobody Special

on Mar 30, 2005

yes, but i'm sure that this one's different, they seem so nice.............

right, and if you keep buying the juicy-girl in korea drinks, i'm almost certain this one'll put out.............

They know better, these are the guys that're just too dumb to get the message if ya tatooed it backwards on their forehead and strapped a mirror in front of their face.

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