Troops Need Debt Protection
We mistakenly believe that because our troops take care of us that we
take care of them while they are away – however, nothing could be
further from the truth. Instead, our troops go away on assignment to
Iraq, Iran, or wherever they have been called and while they are away
the debt collectors come calling.
It has become almost an epidemic among our armed forces that they are
defaulting on mortgages and car loans and all other kinds of debt
because they are unable to pay their bills while overseas. In many cases
while overseas they don’t make enough to cover those bills that they
were covering before they were called up. Some lawmakers are now aware
of this growing problem and are working to do something about it.
There was talk of a debt consolidation program that would only be
accessible to the troops. They would be able to use the debt
consolidation to compile all of their debts, and then that loan would be
put into deferment while the soldiers were overseas. They could then
pick up their payments when they came back with no penalties – and if
called up again, they could defer it again.
There is another idea that would simply stop all harassing phone calls
and collection efforts against the soldiers that were in default due to
having been overseas. This would protect them when they got back as well
so that they would not have to worry about trying to deal with that
while seeking work and trying to get back on their feet.
No matter how you look at it, the debt consolidation or deferments of
bills – something has to happen to protect our troops or they won’t be
able to protect us.
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