the servicemembers civil relief act - how does it impact collections
TRANSCRIPT
The Servicemembers
Civil Relief Act:
How It Affects Collections
Justin B. Hosiephone: 423.490.7564
email: [email protected]
Background: History, Purpose, and Scope
• Where did the SCRA become law?• What is the purpose?• Who is a Servicemember?• Who does is protect?• Are non-servicemembers protected?• When the SCRA is applicable?• How long do the protections apply?• How far does the SCRA reach?
Limits, Prohibitions, and Waivers
• Has service materially affected the consumer?• Can the consumer waive their rights?• Can I treat a consumer differently because he/she exercised these
rights?• Are debt collection calls prohibited?• Can you compel the servicemember into court?• What about after 90 days?• Can you get a default judgment?• Will the consumer “time out” of the debt?• Is there an SCRA rate cap?• Was the servicemember really activated?• Statute of Limitations?
Special Circumstances: Eviction, Property Purchase, Mortgages, Leases, and the
SCRA Foreclosure Protections
• Eviction Proceedings?• Installment Contract for Purchase of Property?• Mortgages?• Termination of Residential or Motor Vehicle
Leases?• Anticipatory Relief?
Actions, Fines, and Damages
• What does a violation cost?• Civil Penalties?• Other Costs?
Recent FederalRegulatory Actions
• Capital One• National Servicer Settlement• Countrywide• Saxon
Contact Information
Justin B. HosieHudson Cook, LLP
6005 Century Oaks Drive, Suite 500
Chattanooga, TN 37416
423.490.7564