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Knowledge Base Article

Servicemembers Civil Relief Act (SCRA) FAQs

What type of loan relief will I receive under the SCRA (Servicemembers Civil Relief Act)?

Eligible members will receive an interest rate cap of 6.00% APR on interest accruing obligations incurred before entry into Active Duty. The rate cap is applied to the outstanding balance of the obligation as of the date of entry into active duty, and lasts for the duration of active duty service. There may be additional protections available to servicemembers who receive Permanent Change of Station (PCS) orders also. The rate for all existing loans will be lowered. On lines of credit, the balance at the time you become active will be eligible for the lowered rate. Any balance added after that date will be at the current rate. Any loans applied for after this date will be at the current rate, as well.

If I am called to active military duty, am I eligible for interest relief on my loans under the SCRA?

Yes. You will need to provide Delta Community with a request letter and copy of the current military orders indicating a call to active duty.

Am I eligible for relief under the SCRA if I am on standby reserves?

No, only active duty military personnel and, under some circumstances, household family members of the affected servicemember are eligible for relief under SCRA.

Can my spouse or any other person ask for the SCRA on my behalf?

Delta Community will accept instructions from any person who is designated as your attorney-in- fact. An external or Military Power of Attorney form may be accepted. An external POA is generally a POA form provided by your attorney. The Power of Attorney document must be reviewed to determine if it is acceptable for the purpose intended.

Does the SCRA apply to loan agreements entered into after I go on Active Duty?

The SCRA does not apply to loans entered into during or after commencement of active duty.

What information do I need to send in order to get my loan rates lowered according to the SCRA?

We will need a copy of your orders showing your military status. You can fax this to the Loan Servicing Department at 470-351-6628 or send it using Secure Email under Additional Services from within your Online Banking.