I'm in the military. Can exercising my rights under the SCRA hurt my credit score or can my lender or creditor close my account or reduce my credit?
No. You cannot be penalized solely for exercising your servicemembers civil relief act (SCRA) rights, by asking for an interest rate reduction to 6 percent, canceling an auto lease, or invoking other protections under the SCRA.
A lender or creditor can’t revoke your credit agreement, change the terms of your credit agreement, or refuse to grant you credit for exercising your SCRA rights. In addition, a lender or creditor can’t furnish negative information to a credit reporting company for invoking your SCRA rights.
If you are late or you miss a payment, your lender or creditor can report the negative information to the credit reporting companies, hurting your credit report and your credit score.
If you still have questions about your rights under the SCRA, contact your local JAG office for more information. To find your JAG Legal Assistance Office, . You also may be able to get assistance from .
If you're having trouble with credit reports and scores, you can submit a complaint with the CFPB.