I have been challenged that the Serviceman's & Sailors Relief Act applies only to the person serving in the military in Iraq will only apply if the credit is defined as credit for the purpose of consumer credit. The argument is based on whether the person's loan was for the purpose of commercial or consumer credit. It is my opinion the Act applies to any credit if initiated prior to the serviceman being called to active duty and has nothing to do if the payments are made to a loan for consumer or commercial loan. The Relief would be from collection efforts to collect a loan for either consumer or commercial credit.

John

Thereis a whole forum devoted to his subjest. You might want to check it out as it has a lot of the information and supporting documents you are seeking.

A serviceman des NOT HAVE to be serving in Iraq in order to be eligable. They just have to be called to active duty. All loans are covered by the law. It doesn't matter if Commercial or Consumer.

The relief also includes a reduction in interest to 6%, and is not limited to just collection efforts.