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Army aer loan debt consuling7/7/2023 ![]() ![]() The Navy-Marine Corps Relief Society is a private, non-profit, charitable organization that was formed in 1904. Typical needs for assistance are rent, car repair, emergency travel, utilities, food, funeral expenses, non-receipt of pay, medical, dental, and hospital expenses. Widows, widowers, and orphans of soldiers who died while on active duty or after retirement as cited above.Soldiers retired from active duty because of longevity or physical disability or retired upon reaching age 60 (Reserve Components) and their eligible family members.Members of the Reserve Components of the Army (National Guard under Title 10 authority and Army Reserve) who are on continuous active duty for more than 30 consecutive days and their eligible family members.Soldiers on extended active duty and their dependents.A loan may be converted to a grant if it is determined that repayment is causing undue hardship." AER funds made available to commanders are constrained only by the requirement of valid need.Īccording to AER, "emergency financial assistance is provided either as an interest-free loan, a grant, or a combination loan and grant, whichever is most appropriate, based upon the applicant's personal situation. The purpose is to provide emergency financial assistance to active and retired soldiers and their dependents when there is a valid need. AER funds are available to commanders of organizations with AER sections. The following are brief overviews of financial assistance programs for service members.Īrmy Emergency Relief (AER) is a private, nonprofit organization formed in 1942. The American Red Cross also offers financial assistance to service members. If you need financial assistance for an unexpected medical bill, for example, or other urgent need, consider contacting your service's financial assistance organization. In some cases, a debt consolidation loan is not what a service member needs. Financial Assistance for Service Members & Their Families Service members and their families can also take advantage of the debt resolution options available to civilians. The good news is service members and their families have financial assistance options that are unavailable to civilians. Are there special debt consolidation programs? Beyond a special VA cash-out mortgage, there are no special or unique military debt consolidation programs. Some lenders make a point of creating advertising programs designed to appeal to current and retired military personnel, but their loans are the same as those offered to civilians- with the addition of patriotic stickers. Moving frequently is not easy and many suffer from a loss of income.įinancial hardship can make people prey to scams and offers for easy solutions. On top of everyday challenges, military personnel faces a lot of stress. ![]() Some of the main causes of financial hardship are medical expenses, insufficient savings and emergency bills, loss of income, and divorce. Look for Debt Relief Alternatives for Military Personnel in a HardshipĪre you suffering from a financial hardship? Struggling with bills? ![]()
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