Ask Doctor Debt is a Debt Collection Resource for Active Military Personnel (www.askdoctordebt.org)

MINNEAPOLIS, Feb. 22, 2012 /PRNewswire-USNewswire/ -- ACA International, the association of credit and collection professionals whose membership includes third-party debt collectors, asset buyers and collection attorneys, offers helpful resources for active United States military personnel.

(Logo: http://photos.prnewswire.com/prnh/20101018/ACALOGO )

"We sincerely appreciate the sacrifices and service of the courageous men and women of our military who have and continue to put their lives on the line to protect our country and the freedoms we enjoy," said ACA International CEO Pat Morris. "The Servicemembers Civil Relief Act (SCRA) is important in that it grants special privileges regarding debt and debt collection so soldiers can focus on the immediate task at hand during active duty."

The SCRA allows certain active military personnel and, in a few cases, nonservice members, to suspend or postpone certain civil obligations as to not worry about financial concerns at home. A lender, creditor or insurer is prohibited by law from taking any adverse actions against military personnel because they exercised their rights under SCRA.  Other important areas covered under the SCRA include:

• Default judgments
• Stay of proceedings
• Statutes of limitations
• Cap on interest rates
• Eviction proceedings
• Installment contract for property purchase
• Mortgages
• Terminating home or vehicle leases

The SCRA can only be exercised while engaged in active duty, including full-time training; annual training duty; and attendance at a service school while in active military service.  Generally, the SCRA applies only to obligations and liabilities incurred prior to entering active duty and typically not those incurred during active duty.

For more information about the SCRA and rights of military personnel when it comes to debt collection, visit www.AskDoctorDebt.org, a free and valuable consumer-focused financial literacy resource. Available in both English and Spanish, visitors are not asked to register, provide any personal information or required to pay for use.   

"The effective management of credit and accounts receivable is important to the national and state economies," said Morris. "Third-party collectors provide an essential service and are actively engaged in their local communities as employers, volunteers, philanthropists and taxpayers."

ACA International is the comprehensive, knowledge-based resource for success in the credit and collection industry. Founded in 1939, ACA brings together more than 5,000 members and their employees in the US and abroad, including third-party collection agencies, asset buyers, attorneys, creditors and vendor affiliates.  ACA International establishes ethical standards, produces a wide variety of products, services and publications, and articulates the value of the credit and collection industry to businesses, policymakers and consumers. For more information about ACA International, visit www.acainternational.org.  

Contact: Mark Schiffman, PR Director
(952) 259-2124 or [email protected]

SOURCE ACA International