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#2179831 - 05/25/18 04:14 PM Right of Offset
c@c Offline
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Joined: Mar 2008
Posts: 120
Georgia
I've posed this question to a couple of compliance resource vendors and received different answers, so throwing it out here.

For purposes of SCRA, do you check military status prior to exercising right of offset for past due loan payments and then not offset if the loan is SCRA-covered?

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Lending to Servicemembers (SCRA, JWNDAA), War, Terrorism
#2179837 - 05/25/18 04:35 PM Re: Right of Offset c@c
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 83,364
Galveston, TX
Read question 18 and visit with legal counsel.

https://www.federalregister.gov/document...ice-members-and
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#2179847 - 05/25/18 05:03 PM Re: Right of Offset rlcarey
c@c Offline
100 Club
Joined: Mar 2008
Posts: 120
Georgia
Randy, thank you for your comment. I reviewed MLA rules and have confirmation that right of offset is likely okay under MLA. What I can't seem to track down is SCRA interpretation. Was exhausting all sources to aid Legal in their research. Thanks.

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#2180530 - 06/01/18 10:25 PM Re: Right of Offset c@c
Andy_Z Offline
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Andy_Z
Joined: Oct 2000
Posts: 27,750
On the Net
Nowhere does the SCRA prohibit setoff. Simple in my book.

State laws can vary and some do offer more protections than the federal law.
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