Business Q&A

Question:
Does the Soldiers and Sailors Civil Relief Act apply to civillian contractors?

Answer:
Hope these sites will help you.

http://www.bankersonline.com/lending/ssc…

In light of the frequent call-up of U.S. military reserve personnel and substantial military enlistment activity, the Federal Deposit Insurance Corporation (FDIC) would like to remind financial institutions of requirements under the Soldiers' and Sailors' Civil Relief Act of 1940. The intent of the law is to allow service members to devote their full attention to defense of the nation, with a minimum of distraction from financial or other legal burdens.

The Act protects members of the military from enforcement of their legal obligations incurred prior to active duty that they are unable to meet due either to their absence from home or from the financial consequences of significantly lower military pay. The Act does not apply to any obligation entered into by a military borrower after his or her military service has commenced. Bankers can anticipate receiving inquiries about customers in active military service. Attached is a summary of the Act's key provisions. (The Act is also available on the Internet at http://www.access.gpo.gov/uscode/…. Select "TITLE 50A" and "SOLDIERS' AND SAILORS' CIVIL RELIEF ACT OF 1940.")

For more information, please contact Hugh E. Eagleton at (202) 898-6542 (e-mail: HEagleton@fdic.gov).