View Full Version : car payment
Brian0311
10-28-09, 02:56 PM
im leaving for recruit training in about a month, my question is with the servicemembers civil relief act, does this me that my car payment gets put on hold until i get out or what, my recruiter says...
Supersquishy
10-28-09, 03:01 PM
1. Your profile looks like ass.
2. You can tell your bank your situation and see if they will work with you, but if not, you are obligated to make your payments. Do you have any family or friends who will back you for 3 months? If you won't be making enough to pay your bills then why did you sign up?
temarti
10-28-09, 03:28 PM
and i wont even be making enough to pay for it???
Profile....
If you are referring to the pay once you get out of bootcamp, I would sell the car.
Old Marine
10-28-09, 04:40 PM
You are responsible for any bills that you made during your miserable little life.
USCFIGHTONUSC
10-28-09, 05:04 PM
The only people who can help you is your finance company. Regardless of what your plans are, or what a recruiter may say, in the end you are liable to the finance company and no one can force them to 'hold' payments or any crap like that.
You need to set up arrangements with the finance company. If not surrender your vehicle to them or sell it or find some way to make the payments in advance.
And if you leave it with anyone who promises to make the payments, it is your credit and the co-signer's credit who gets ruined if payments are not made.
SlingerDun
10-28-09, 05:48 PM
but how can i pay for it if im not allowed my bank account.. and i wont even be making enough to pay for it??? hhmm lets see, a car i won't be using for months that cost more to finance than i will be earninghttp://www.leatherneck.com/forums/images/icons/icon6.gif
had anyone ever delt with this and or what should i do????yes i have, sell it. and fill out a profile here
--->Dave
SlingerDun
10-28-09, 05:53 PM
one more thing....Brian... are you an 0311:evilgrin:
It'll probably BriancouldnthackSOIsohewentUAnowhesonlegalhold03xx
You practically need a lawyer to interpret this thing ... the soldiers and sailors relief act. The way it reads to me is any debt incurred prior to going from a reserve status you can apply for relief. If you are in DEP you are technically in a reserve status (IRR). This would not release you from making payments but you could get the interest rate reduced to 6%. You could at some point close to shipping request that 3 payments be placed on the back end of the loan (deferred until you finish boot camp).
More reading here
http://www.defenselink.mil/specials/Relief_Act_Revision/
http://usmilitary.about.com/cs/sscra/a/sscra.htm
The best advice I've seen so far is to sell the durn thing. Even if you drive it down to the dealer and hand over the keys that counts as a reposession.
I am posting this against my better judgement because you have a broken a couple rules that we members all feel strongly about. You are not an 03 anything and you have a jacked up profile.