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#2075207 - 04/22/16 03:13 PM SCRA & checking accounts
#12 Offline
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Joined: Jun 2005
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I know we need to check to see if a customer is a service member prior to starting foreclosure or repossessing a vehicle. What about when we send an overdrawn checking account to the credit bureau for collection? Is that initiating legal action that would be covered under this part of the rule?
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Lending to Servicemembers (SCRA, JWNDAA), War, Terrorism
#2075924 - 04/27/16 03:48 PM Re: SCRA & checking accounts #12
#12 Offline
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Joined: Jun 2005
Posts: 1,343
Bump?
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#2076396 - 04/29/16 04:29 PM Re: SCRA & checking accounts #12
Dan Persfull Offline
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Dan Persfull
Joined: Aug 2002
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Bloomington, IN
You probably should consult your attorney but IMO turning an account over to a collection agency is not taking legal action. You just need to make sure the collection agency has procedures in place to follow SCRA requirements before they take any legal action.
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#2076494 - 04/29/16 08:27 PM Re: SCRA & checking accounts #12
#12 Offline
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Joined: Jun 2005
Posts: 1,343
Thanks Dan! That seems like good advice in this case.
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