Am I correct in thinking that the customer must request the relief and if so, how long can they go back.

We have one that is requesting two years worth of interest be refunded because of active duty but this customer never even requested relief. Also, customer would not qualify if they are full time military and just reassigned to out of the country, right?

Sec. 207. MAXIMUM RATE OF INTEREST ON DEBTS INCURRED BEFORE MILITARY SERVICE.

(b) IMPLEMENTATION OF LIMITATION-
(1) WRITTEN NOTICE TO CREDITOR- In order for an obligation or liability of a servicemember to be subject to the interest rate limitation in subsection (a), the servicemember shall provide to the creditor written notice and a copy of the military orders calling the servicemember to military service and any orders further extending military service, not later than 180 days after the date of the servicemember's termination or release from military service.

If they were full time (active duty) military when they obtained the loan they would not be eligible for relief. Being reassigned to a new duty station does not qualify.

Dan's cite is from the SCRA which replaced the SSCRA last December. A potential gray area is that the old rules which were not so specific, were in place when this happened. But the easy part here is if he was active and was just reassigned, there is no relief due. Dan's info on that is applicable to both the SSCRA and the SCRA.

Please forgive me for asking but I don't understand what this section 207 is saying.....they don't have to let us know timely? They can go and serve their time and not let us know until they get back?...that is if they qualify for relief and not full time military.

Sorry I am so out-of-it today and can't understand but my house was broken into yesterday and I'm trying to work today with frayed nerves.