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#2178051 - 05/14/18 10:00 PM Military Check required b4 Repossession/Offset?
MyOhMyWeComply Offline
100 Club
Joined: Sep 2015
Posts: 114
Texas
I was asked by our Collections department if we are required to check for military status before taking adverse action (Repossession, Offset) on a delinquent loan. These persons did not disclose military service and loans were done before MLA rules that state you check before making loan to determine status....

I'm looking through materials but thought I would post here to see if someone could help get a quick answer. They have a vendor looking to sell a product and they want to know if it would be beneficial...

Thanks in advance for all assistance!

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#2178052 - 05/14/18 10:04 PM Re: Military Check required b4 Repossession/Offset? MyOhMyWeComply
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,227
Galveston, TX
A product? They can check on-line for free. And yes, they should be doing it.
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#2178236 - 05/15/18 08:08 PM Re: Military Check required b4 Repossession/Offset? rlcarey
MyOhMyWeComply Offline
100 Club
Joined: Sep 2015
Posts: 114
Texas
I told them that but this vendor "does it automatically".... Sometimes all I can do is shake my head....

Thank you for the quick response!

Greatly Appreciated!

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