Jump to content

Search the Community

Showing results for tags 'SCRA'.

  • Search By Tags

    Type tags separated by commas.
  • Search By Author

Content Type


  • Announcements
    • PLEASE READ BEFORE POSTING / Board Announcements
    • Cosmetic Changes to the Forum
    • Resources
  • Credit Repair
    • Credit Repair
    • Collections
    • Credit Bureaus/Reports/Scores
    • Identity Theft
  • Legal Issues
    • Is There a Lawyer in the House
    • Bankruptcy Q and A
  • Debt Validation
    • While You are In It Debt Validation Q and A
    • Debt Settlement
  • Loans and Banking
    • Obtaining Credit Cards, Auto Loans and Financing
    • Mortgages
    • Student Loans
    • Banking and Finance
  • Non Credit
    • Off Topic

Find results in...

Find results that contain...

Date Created

  • Start


Last Updated

  • Start


Filter by number of...


  • Start







Found 2 results

  1. I wasn't sure if I should post this here or in "Legal Issues" but I hope someone can help. My husband & I purchased a "deeded" timeshare in FL. Almost immediately after, after my husband began ship rotation & extended deployment (Active Duty). After my husband left the ship, he had a change of assignments and my job was eliminated leaving us with significantly lower income. We had trouble paying. I tried to sell it to no avail, give it away, ebay, all a no go. Last year, I called the company about a "deedback" only to be told they could not while there was still a balance but could work out a payment plan with them. After 6 months of payments they stopped taking the auto payments out. I called and was informed my account was sent to the foreclosure department. Apparently, the maintenance fees were not part of the payment plan I had been paying. The foreclosure dept. ended up being a title insurance company in Nevada that refused to accept partial payments and wanted the entire amount immediately. Bottomline, it foreclosed in less than 6 mos. & reported it on credit reports as "closed, foreclosed". There are no public judgements on file and when I looked up the public records, I discovered it was a non-judicial foreclosure by a "trustee foreclosure process". A new law in Florida enacted to speed up the foreclosure process on timeshares only. After doing some research, I also discovered Section 521 of the SCRA (Servicemember Relief Act) provides all service-members protection against default judgments while on active duty and if I am reading it correctly, a creditor cannot foreclose/repossess property for active duty service members without a court order. Wouldn't an expedited non-judicial foreclosure violate this law? The last letter I received from them did have a clause from the Florida Statue that read "If you do not object to the use of the trustee foreclosure procedure, you will not be subject to a deficiency judgment even if the proceeds from the sale of your timeshare interest are insufficient to offset the amounts secured by the lien." I did not object but I am pretty sure they skipped a couple of steps by notifying us after it was already filed. They are not currently trying to collect on this and I don't want to, necessarily, awake a sleeping dragon but wish there was a way to get them to change the status on our credit report. My husband is retiring soon and I am nervous this will hurt his security clearance. Tell me if this is stupid or not: I want to send the creditor some type of letter informing them that they have violated SCRA. They can keep the timeshare but I want the tradeline deleted from our credit reports. Is this a bad idea?
  2. I am currently in the military (active duty) and I came a cross this link a few years back. http://www.military.com/benefits/military-legal-matters/scra/servicemembers-civil-relief-act-overview.html It may help those of us on Active Duty. It seems this applies to all who are active duty. I recently went through and contacted all my credit card creditors and they reduced my interest rate below 6%. Hopefully this is a useful resource for those in the military.
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.. For more information, please see our Privacy Policy and Terms of Use.