If I exercise any of my options under the SCRA, especially the 6% interest rate cap, will it affect my credit rating?
Untitled
No. Section 518 protects your credit standing with respect to any fines, penalties, insurance policies or other civil liabilities while you are on active duty. Creditors cannot penalize you because you have exercised a legal right under the SCRA. You still have to pay the debts you owe, but asking for protection will not hurt your credit rating at all.
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