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Borrowing Money? The Military Lending Act Protects You.

Borrowing Money? The Military Lending Act Protects You.

Army life could be packed with financial hurdles. Give consideration to army families whom go through the combined whammy that is triple spouse jobless, out-of-pocket PCS expenses and extending a currently slim armed forces paycheck to help make ends fulfill. This trifecta of hurdles has lead military families down a economic rabbit-hole that often takes years to dig on their own away from- and then end up here once again next time the PCS to a different responsibility place!

Numerous army families are searching for the fast and effortless option to have them through the first or even the 15th of every month—Payday loan providers. In reality, a 2014 study by the Financial business Regulatory Authority discovered 37% of active-duty millennials purchased loans that are payday pawn stores, rent-to-own shops, car name loans, and tax reimbursement services to tide them over.