The amendment, known as the G.I. Protection Amendment, has four main provisions: - First, it would protect service members from being dragged into destitution by the predatory practices of extremely high interest rate lenders. It prevents a creditor from recovering in bankruptcy amounts owed on so-called "pay day" loans secured by a personal check for future deposit or electronic access to a bank account...
Third, it would exempt members of the armed services, veterans, and spouses of service members who die in military service from application of the "means test" provisions of the bill. Military families and veterans are facing tough times. They should not have to endure a new right of creditors to harass them in court and subject them to an arbitrary means test.
