Community Corner
Military Families Hounded by Debt Collectors
JP Morgan Chase, one of the nation's largest banks, admits it has overcharged several thousand military families for their mortgages, including families of troops fighting in Afghanistan.
My good friend and attorney Derick Villanueva posted on Facebook the other day, "It's always an honor to represent fellow military folks, but when they face financial difficulty and have to deal with lawsuits from collectors when they come home, it's good to know that this tough SOB has their backs."
That gave me pause. It never occurred to me that the men and women in our military weren't protected from debt collectors in some way.
I researched, and what I've found is outrageous. Not only are our active-duty military personnel not protected, they are harassed, overcharged, and their homes improperly foreclosed by our nation's most powerful financial institutions.
Find out what's happening in Northeast Cobbfor free with the latest updates from Patch.
One of the nation's biggest banks — JP Morgan Chase — admits it has overcharged several thousand military families for their mortgages, including families of troops fighting in Afghanistan. A Chase official told NBC News that some 4,000 troops may have been overcharged. The bank discovered it improperly foreclosed on the homes of 14 military families, reports Joan McCarter of The Daily Kos.
Marine Capt. Jonathan Rowles is the backseat pilot of an F/A 18 Delta fighter jet and has served our nation as a Marine for five years; his family has been battling Chase almost that long, according to The Daily Kos.
Find out what's happening in Northeast Cobbfor free with the latest updates from Patch.
Why are there not laws already in place to protect active-duty military personnel?
Help for Military Families
The following links will help military families deal with debt collectors:
The Navy Times offers ways to deal with debt collectors, click here to read the article.
For members of the military, go to the Pentagon Federal Credit Union Foundation, a non-profit organization, and click on "Financial Literacy," or "Money Matters." Read the Stark Asset Recovery Kit fact sheet to get financially grounded alternatives to payday loans. Then make your way to the National Military Family Association's website here .
If you are not a USAA insurance or banking customer like many armed services members, join USAA, or contact them here .
Get more local news delivered straight to your inbox. Sign up for free Patch newsletters and alerts.