April 2006  Lieu's 'payday' bill for military personnel OK'd April 28, 2006 "SACRAMENTO -- The Assembly on Thursday handily passed legislation that aims to protect members of the military and reservists from overzealous collectors of so-called "payday" loans. Carried by Assemblyman Ted Lieu, D-El Segundo, the legislation prohibits payday loan companies from seeking to garnish wages or from contacting superior officers."  Foundation Study Shows Military Personnel Paid Comparably to Civilian Counterparts, Need Access To Comparable Credit: CCRF April 27, 2006 "Consumer Credit Research Foundation today released a study showing that enlisted military personnel earn incomes comparable to those of their civilian counterparts, and that their needs for short-term credit are likewise comparable to the credit needs of middle-class civilians."  Pioneer Services to Expand ICFE Free Credit Correction Services to Military Personnel April 21, 2006 "KANSAS CITY -- Pioneer Services and the Institute for Consumer Financial Education (ICFE) announced a joint program to provide credit correction services to military personnel. Pioneer Services will provide this service -- a $100 value -- free of charge at Pioneer Services offices around the country."  Arkansas: Candidates vow to ban loan sharks April 12, 2006 "Attorney General Mike Beebe says he would ask the Legislature to act against the payday lenders, but except for one lawsuit he filed against a Jonesboro check casher, he hasn't done a whole lot to end the exploitation of the working poor and members of our military. The Jonesboro lawsuit doesn't even involve a typical payday lender but has more to do with an Internet rebate scam the Jonesboro outfit is running."  South Carolina legislators may crack down on payday lenders April 7, 2006 "Since Georgia and North Carolina banned the quick loan companies, many of them have moved to South Carolina. Since 2000 the number of these stores have doubled, according to a recent study by AARP, and credit counselors say so has their case load."  Illinois: State shutters 4 payday loan stores April 3, 2006 "Dean Martinez said rules proposed last month for enforcement of the Consumer Installment Loan Act would import many consumer protections found in the Payday Loan Act, as well as potentially close loopholes in the act. The rules would protect borrowers from lenders that garnishee wages of military personnel or threaten to use the criminal process to collect on a loan, Martinez said. They also prohibit companies from offering loans with interest rates higher than 36 percent where the loan includes wage assignments or access to a borrower's bank account."

Pending Legislation Concerning Military Loans H.R. 97: To establish requirements with respect to the terms of consumer credit extended by a creditor to a servicemember or the dependent of a servicemember, and for other purposes. S. 1042: An original bill to authorize appropriations for fiscal year 2006 for military activities of the Department of Defense, for military construction, and for defense activities of the Department of Energy, to prescribe personnel strengths for such fiscal year for the Armed Forces, and for other purposes. (Amendment to this bill, sponsored by Sen. Elizabeth Dole, North Carolina Republican, would limit interest rates to 36 percent on loans offered to military personnel.)

Information about Military Loans for U.S. Military Personnel

Military loans can be a blessing, or a curse, for U.S. Military personnel in need of quick money for emergencies, travel, etc. Here at MilitarySpot we know many military people who have benefited from the assistance of military loans, but we also know more than a few who have been ripped off. Unfortunately, there are many lenders out there who are charging military personnel exorbitant interest and fees for loans. Many of these lenders are located just outside military bases, and some prey on military service members on the Internet. As "former military" ourselves, we want to be fair about what we recommend to military people on the issue of military loans. First, we suggest that you visit your military base assistance office (the office that helps military families, spouses, etc.). A no-interest or low-interest loan may be available. Second, we suggest that you check out Pioneer Military Loans. We recommend Pioneer Military Loans when loans are not available to you through your base or other military support organization. Pioneer charges fair rates and has good standing within the military community. Above, for your reference, is a news log of articles concerning loans for military people. Also see: Pioneer Help Loan. More Military Loan Information...

PIONEER MILITARY LENDING - PERSONAL LOANS UP TO $10,000 MilitarySpot.com recommends Pioneer Military Loans for your personal loan needs. Pioneer Military Lending is committed to serving the active-duty and career-retired men and women of our armed forces. Our secure and private online loan service is designed to provide you with the convenience and accessibility you need. We offer competitive interest rates and loan products for all ranks, and our online application is available 24 hours a day, seven days a week. All of our loan products are backed by our Four-Star Guarantee. If you're not 100% completely satisfied with your service, you can cancel your loan within 15 days at NO cost to you. Click Here

DESCRIPTION: Loans for military personnel KEYWORDS: military loan, pioneer military loan, military payday loan, bad credit military loan, military personal loan, us military loan, military pay day loan, loans for military personnel, loans 4 military, army loan military, no credit check military loan, military loan guaranteed, military cash loan, fast military loan, advance cash loan military, instant military loan, easy military loan, no hassle military loan, emergency loan military, loan military travel SEARCH:  Google.com  |  MSN Search LINKS: military - military loans - military loans news - myspace military - military resources - military schools - military shopping - online shopping - product reviews - hot products - va loans - postal - online postage