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#467197 - 12/07/05 06:24 PM SCRA--Notification to Creditor from Servicemember
MikeD Offline
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Joined: Jul 2004
Posts: 30
Los Angeles
I have been unable to find anything in the Act that definitively says the servicemeber must give notice to the creditor in regards to installment contracts (or anything else, actually). I find this particularly troublesome in that I have read in several places that notification is required to have any rights under the Act. Does anyone have any specific information regarding this?

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Lending to Servicemembers (SCRA, JWNDAA), War, Terrorism
#467198 - 12/07/05 06:49 PM Re: SCRA--Notification to Creditor from Servicemember
Dan Persfull Offline
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Dan Persfull
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Bloomington, IN
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#467199 - 12/07/05 07:16 PM Re: SCRA--Notification to Creditor from Servicemember
MikeD Offline
Junior Member
Joined: Jul 2004
Posts: 30
Los Angeles
Yes, that goes to the 6% cap (I knew about that part and forgot). But what if someone is silly enough to repossess a car, not having been notified by his customer as to active duty status? The Act doesn't seem to mention notification other than as regards the 6% rule, and one might argue that if Congress meant the notification to be an overall rule, they would have put that in the overall rules, not just in the 6% rule.

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#467200 - 12/08/05 02:49 AM Re: SCRA--Notification to Creditor from Servicemember
Andy_Z Offline
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Andy_Z
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Sec. 302. PROTECTION UNDER INSTALLMENT CONTRACTS FOR PURCHASE OR LEASE. (a) PROTECTION UPON BREACH OF CONTRACT- (1) PROTECTION AFTER ENTERING MILITARY SERVICE- After a servicemember enters military service, a contract by the servicemember for-- (A) the purchase of real or personal property (including a motor vehicle); or (B) the lease or bailment of such property, may not be rescinded or terminated for a breach of terms of the contract occurring before or during that person's military service, nor may the property be repossessed for such breach without a court order.
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