Applies to members of the Uniformed Services, Reservists who have been
called to Active Duty and to members of the National Guard called to Active
Duty for more than 30 days pursuant to a contingency mission specified
by the President or Secretary of Defense
Limits the amount of interest that can be collected on debts to 6%
per year during the period of military service
The interest in excess of 6% per year is forgiven (rather than deferred)
Applies to all debts incurred prior to the commencement of active duty
and includes interest on credit card debt, mortgages, car
loans and other debt.
Does NOT apply to federal guaranteed student loans, but deferrals may
Interest rate reduction does not occur automatically; service members
must request it in writing and provide a copy of their orders.
Contact the Judge Advocate (JAG) or Legal Assistance Officer in your
Click on your home state for information about Unemployment Insurance
Benefits that can provide temporary financial assistance to workers unemployed
through no fault of their own who meet eligibility requirements established
by state laws.