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Credit Companies Liable for Damages to Veterans’ Benefits

Posted on February 14, 2016 by Disability Help Group

Capital One is set to pay out $12 million in settlements to resolve cases of fraudulent credit activities between the creditor and several military families. If you fear that your veterans’ benefits may be at risk, call a Plantation disability representative to start protecting veterans today.

The claims from veterans and their families state that the credit company was guilty of unlawful foreclosures and property repossessions, as well as overcharging servicemembers on interest rates beyond the six percent maximum that the Servicemembers Civil Relief Act entitled them to.

The $7 million in settlement agreements will go to military families who lost their homes to:

  • Capital One or their subsidiaries;
  • ING Direct USA; and
  • HSBC Holdings.

The remaining $5 million will go to those servicemembers who were forced to pay improper interest rates or did not receive the proper benefits on their credit cards or loans. The veterans’ benefits from the settlement may be available to those who dealt with the credit company as far back as July 15, 2006.

Capital One is not the first major creditor to be found guilty of fraudulent practices that violate the Servicemembers Civil Relief Act. The U.S. government provides many types of benefits and laws designed for protecting veterans and serving our veterans after their sacrifices for our country.

Veterans’ disability benefits are an important type of government benefit that any veteran with a discharge other than dishonorable may be entitled to. As a disabled veteran, you have the right to apply for these benefits with the help of a veterans’ disability representative.

If you are a disabled veteran who has been denied disability compensation or have not yet applied for benefits from the VA, a South Florida disability representative from Disability Help Group is ready to help. To learn if you are entitled to certain programs and benefits contact our veteran’s disability rights firm today – 1-(800)-800-3332.