Debt Collection Resources for Active Military Personnel

MINNEAPOLIS, Feb. 17, 2011 /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 Interim CEO Ted Smith. "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 debt collection, visit www.AskDoctorDebt.com, a valuable consumer-focused financial literacy resource created by the non-profit ACA International Education Foundation. Available in both English and Spanish, visitors are not asked to register, provide any personal information or required to pay for use.

U.S. military veterans and their families also have a new resource called www.ARMingHeroes.org that connects them to employment, training, mentoring, credit and financial counseling made available through the accounts receivables management (ARM) industry.

ACA International, the Association of Credit and Collection Professionals, 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 worldwide, 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.

SOURCE ACA International