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New Member |
Hello!
My husband recently deployed, and I've already taken advantage of the Servicemembers Civil Relief Act, but I was told by the company we finance our car through that I could use this CA military relief act (or CA family military relief act..?) Has anyone used this? It's where you defer your payments for 6 months. I was wondering if so, do they tack on additional interest, to what you owe? Or how does it work?.. Sorry! lol.. I asked Wachovia and they don't seem to know but say that there is a per diem that they think they would add on.. but aren't sure.. Has anyone at all used this? Or know where I can find more information? I've been searching and can't find anything about adding interest, or the specifics regaurding this! I really appreciate your help! Thank you so much! ~aSPCsWife! |
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Super Member |
Here is the link you are talking about. http://law.justia.com/california/codes/mvc/800-811.html After reading it and analyzing it, I would encourage you not to use it. Only if it is a dire emergency. If you purchased this vehicle before he deployed and did not have a problem making the payments then it is your moral obligation to pay your just debt and on the terms set forth that you signed. Please read it carefully. If you are not able to make the full payments then talk to the creditor. Use the SCRA and get lower interest rates. Pay off the Debt as quickly as possible. Use this time to get out of debt and don't put it off just because it may relieve a little stress. SOLVE THE PROBLEM, NOT THE SYMPTOM. I do not mean to degrade or belittle. I am only answering to the info you have given. I just want your family to be debt free. Sincerely Jason US Army Retired Edited by MortgageGuru This message has been edited. Last edited by: MortgageGuru, |
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