Answer:
The SCRA doesn’t say you can’t report factual loan histories. The servicemember should pay according to the proper terms and have the record reported properly so their credit history is up to date and helpful to them. However, there are some restrictions on reporting information that every lender should understand and negative information cannot be reported on the servicemember simply because of the servicemember’s invocation of SCRA protections. Some state laws may also come into play.
Learn more about Andy’s webinar Attention: New military lending rules of engagement.
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