SCRA Benefits by
Debt Type
The 6% interest rate cap applies across all pre-service debts. Understand exactly how SCRA protects each type of obligation.
Average Annual Savings by Debt Type
Based on typical balances and rate differentials
Choose Your Debt Type
Each debt category has specific requirements and processes. Select one to learn exactly what to do.
Vehicle financing from dealerships, banks, and credit unions. The most common SCRA claim - nearly every service member has one.
Home loans offer the biggest savings potential due to larger balances. Plus additional foreclosure protections.
Revolving credit accounts with high interest rates. Multiple cards means multiple claims - each reduces to 6%.
Unsecured installment loans from banks and online lenders. Often overlooked but fully covered by SCRA.
Federal and private student loans have different rules. Federal loans have their own military benefits, while private loans qualify for SCRA. Understanding the difference is critical.
How SCRA Works Across All Debts
The same core process applies regardless of debt type
Verify Eligibility
Debt must exist before your active duty start date
Gather Documents
Military orders showing activation date and status
Submit Request
Contact each lender with written SCRA request
Get Reduced Rate
Rate drops to 6%, often with retroactive refund
Common Questions
Can I claim SCRA on multiple debts?
Yes. SCRA applies to every qualifying debt independently. You can (and should) file claims with every lender where your rate exceeds 6%.
What if my rate is already below 6%?
If your current rate is 6% or lower, SCRA won't provide additional savings. However, still notify your lender for other protections.
Does the debt type affect processing time?
Yes. Credit cards typically process fastest (2-4 weeks). Mortgages take longest (4-8 weeks) due to escrow recalculations.
What about debts I took out after joining?
SCRA only covers pre-service debt. Debts incurred after your active duty start date don't qualify for the 6% cap.
Ready to Claim Your Benefits?
Calculate your potential savings across all your debts in under 2 minutes.
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