Bills and Loans While at MCRD San Diego

[sathed]

My little brother left for boot camp last week. I assumed that he had everything taken care of before he left. However, I've discovered that he was given bad information.

He currently has an auto loan that is giving us grief. The recruiters told us that the credit union would put the loan in to forbearance until he gets back, but after doing some research, it doesn't look like they are obligated or even willing to work with us. We can handle the car payments while he's gone though, no big deal. However, what we can't do, is insure the car. Financially, it's not a big deal, but the insurance companies won't LET us insure it since he is the only one on the title (and the bank). I REALLY don't want his car to get repossessed simply because the insurance company won't let us insure it.

My question is this... Is there absolutely ANY way that he would be able to have a paper notarized while in boot camp? We're thinking that the best way to handle this is to just have him give me power of attorney.

Thoughts?

S

[Kegler300]

I believe he can have his payments stayed under the Soldiers and Sailors Relief Act until he graduates.

[Beltayn]

The Master Guns is correct.

Additionally, feel free to put the situation down in writing in a letter and mail it to your brother with instructions to show it to his Senior Drill Instructor. He can help provide some guidance on the issue and help you brother take care of any paperwork that may be necessary.
This isn't an uncommon issue.

[sathed]

So, I just got off the phone with the bank. The only thing they can do, so they say, is give him a 6% interest, which is barely lower than what he has now.

Is there any sort of reference where I can read more about this? I want to be able to walk in to the bank tomorrow and throw documentation in their faces to prove them wrong. I have a feeling that they just want their money though.

Thanks in advance!

[Wyoming]

They do want their money, however, there IS the Soldier and Sailor Relief Act.

Listen to the Master Guns. He has more service stripes than you have BD's.



... and I really wouldn't go in the bank and throw anything in their faces. Your brother took out the loan. They gave it to him in good faith. Why not go see the Recruiters?

[DanM]

Simplified version of the Soldier's and Sailor's Act.

http://usmilitary.about.com/cs/sscra/a/sscra_2.htm

[SlingerDun]

...don't want his car to get repossessed simply because the insurance company won't let us insure it.

Repossession of an uninsured vehicle sitting in your driveway or garage, not likely. Towed and impounded for being driven without minimum liability insurance, likely. Are you using his car?