Florida FHA Loan News

Pay Day Loans for Military Families

Yes, spouses are eligible to apply for a military dependent or spouse loan at Military-Loans.com. Providing fast financing, fixed rates, and flexible terms, military spouse loans give you cash for any need, from school supplies to a post-deployment family vacation.

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Military paychecks often provide for entire families. That paycheck comes regardless of how many hours are worked, but this also means months with five weeks can leave you stretching a buck until payday.

The 2006 law imposed a 36 percent cap on rates lenders can charge active-duty military personnel and families. It directed the Defense Department to issue regulations identifying types of loans.

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we stand united in support of our service members and their families," said Deputy Secretary of Defense Bob Work. This rule applies the protections of the military lending act to all forms of payday.

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Aca,!" The legal assistance office has recently fielded several questions from military members on military payday loans. The Legal Assistance Office would like to remind service members that since.

Payday Loans are for immediate cash at very high interest rates.That’s why the Department of Defense has recently mandated that military members CANNOT take out payday loans, so payday loan companies CANNOT attack the financial security of military personnel (and their families). Hooray (and hoo-rah!) for that!

Our loans for family life are available to all ranks and branches of the U.S. military, including active-duty, career-retired and medically retired service members. Military veterans and members of the National Guard and Reserves who have had a loan with Pioneer Services in the past are also eligible to apply.

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LUKE AIR FORCE BASE, Ariz. — The Fiscal 2007 Military Authorization Act made it illegal for creditors to grant payday loans and car title loans to military members due to abuses existing in the industry. In the past, some military members have paid up to 800 percent interest at payday loan establishments.

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