# Wyndham Loan Financing and Service Members Civil Relief Act (SCRA)



## Richelle (Dec 19, 2016)

I could not find much on this subject, so I figured I would post my experience with it here.  My husband is in the Army National Guard.  We got the loan for our timeshare shortly after he got out of basic.  Long before we knew about Tug.  Since he is Guard, he was not considered active duty at the time we got the loan.  Since then, he's done multiple active duty assignments including a  couple deployments overseas.  I mistakenly thought that the loan was not eligible for SCRA interest relief because we got it after he enlisted.  I didn't realize until later, that the loan was eligible for interest relief under the Service Members Civil Relief Act (SCRA) because he was not considered active duty at the time of the loan inception.  The enlistment date doesn't matter.  It's the active duty date that matters.  This means, that the interest on that Wyndham loan is capped at 6% and has to remain that way, until a year after the active duty assignment has ended.  So if a Guardsmen or Reserve get's deployed for a year, the interest rate is capped at 6% for that year and the entire year after they get back.  I pasted just a small excerpt of from that law below.  There are so many other things in there that every military personnel should know.  You'd be surprised at how many military personnel do not know about the benefits and protections that are in the SCRA.  I'm still learning about them.

I called Wyndham's finance department and they told me to fax the request, along with his orders, to the Wyndham Research Department at 702-304-4217.  I sent them 63 pages(including cover letter), which was all his orders for the past 8 years.  It took me about a week to confirm they got the fax.  I had to fax it a second time.  Not sure where the first went.  It was worth the extra work.  The loan is now paid in full (I asked them to apply the refund to the principle of the loan) and I have a refund check coming.  That leg work gained me thousands of dollars in refunded interest.  Money that Wyndham would have happily kept, had I not told them about my husband's active duty.  Moral of the story is, don't get a loan through Wyndham unless you want to pay a really high APR.  It doesn't hurt to ask if your debt is SCRA eligible.  Also just an FYI, even if you are not in the service anymore, if you had the loan while you were enlisted, you can still apply.  If eligible, they will make the adjustment retro active.  You could get a nice chunk of change back even if the loan is already paid off.

I hope this helps someone get some of their money back from Wyndham. 

**Updated with fax number for Wyndham Research Department.  You can get more info on the law at https://www.justice.gov/sites/default/files/crt/legacy/2011/03/23/scratext.pdf



§ 527. Maximum rate of interest on debts incurred before military service
[Sec. 207]

(a) Interest rate limitation.

(1) Limitation to 6 percent. An obligation or liability bearing interest at a rate in excess of 6 percent per year that is incurred by a servicemember, or the servicemember and the servicemember's spouse jointly, before the servicemember enters military service shall not bear interest at a rate in excess of 6 percent –

                (A) during the period of military service and one year        thereafter, in the case of an obligation or liability consisting of a mortgage, trust deed, or other security in the nature of a mortgage; or

(B) during the period of military service, in the case of any other obligation or liability.

(2) Forgiveness of interest in excess of 6 percent. Interest at a rate in excess of 6 percent per year that would otherwise be incurred but for the prohibition in paragraph (1) is forgiven.



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## nicemann (Dec 20, 2016)

Congrats.  Glad they actually gave you a refund for the past amount.


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## Richelle (Dec 20, 2016)

Thank you. There is a lot of service members and their families who don't realize how much this law can help them. It's one of the few things the government got right. Now if they can just figure out how to balance a checkbook. 


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