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SCRA and Estate Loans

My relative's estate has a loan at my bank. I am entering active military service now; can the estate get the SCRA loan benefit if I request it? What if I assume the debt before I go?

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Probably not. The loan is not your loan; it is that of your relative's estate. Even if you were the executor and in active service, you are not personally liable and so cannot get the SCRA loan benefits. It is unlikely that you would be able to receive any SCRA benefits. You can and should speak to your attorney about this technical question.

Published on BankingQuestions.com 10/29/08