Archives - November 2005 (Current month)  Military targets payday lenders November 28, 2005 "U.S. Navy leaders in the Puget Sound region are regrouping for a second attempt to persuade state lawmakers to restrict payday loans. A top Navy official testified during the last legislative session that payday loans -- short-term cash advances typically made at high interest rates -- ensnare young sailors in a dangerous cycle of debt that can harm their combat readiness. A raft of bills was introduced in the House and Senate that would have curtailed payday loans, but only one passed. Critics said the lone bill, which essentially codified the payday industry's "best practices" for lending to military personnel, was weak and ineffective."  Pioneer Services Named One of the Top 'Military Friendly Employers' in the Nation November 22, 2005 "Pioneer Services has earned the honor of being a top "military friendly employer" in the Veteran's Day edition of G.I. Jobs magazine. While the top 25 focuses on Fortune 500 companies such Home Depot and General Electric, the magazine listed four companies outside of the corporate giants that do an outstanding job actively pursuing veterans: Lear Siegler Services, Inc., Austin, Texas; COMTek, Chantilly, Va.; Cornell University, Ithaca, N.Y.; and Pioneer Financial Services."  FUBAR: The Loan Sharks Are Circling November 21, 2005 "A title loan is not the way to get back on your feet if you're having financial problems," the Military Spouse Career Center, a Pentagon contractor, counsels. "It's a trap that's likely to pull you deeper into debt."  Soldiers Abused by Insurance Agents November 11, 2005 "Earlier this year, Sen. Hillary Clinton, D-N.Y., and Sen. Mike Enzi, R-Wyo., introduced the Military Personnel Financial Services Protection Act. It would insure that state insurance regulators have jurisdiction over the sale of insurance products on military bases, require the Department of Defense to keep a list of individuals barred from military bases because of abusive sales tactics, and prevent investment companies from issuing periodic payment plan certificates, the mutual fund-like investment product with extremely high first-year costs."  Youths in Rural U.S. Are Drawn to Military November 04, 2005 "All of the Army's top 20 counties for recruiting had lower-than-national median incomes, 12 had higher poverty rates, and 16 were non-metropolitan, according to the National Priorities Project, a nonpartisan research group that analyzed 2004 recruiting data by Zip code."

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 servicemembers 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 and 10 Reasons Why You Should Choose Pioneer Loans.

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

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