What’s worse than preying on people with bad credit? Probably preying on our service members. Some companies try to lure in military service members for what they claim are special rates or loans, but in truth, it’s really preying on their needs or belief of special offers because of their military status.

For military service members, a promise of special rates, low mortgage fees or suspended car payments doesn’t often come off as scams as obvious as an offer to someone with bad credit. Military are often the recipients of special terms so it’s important to raise awareness so military families can protect themselves.

The Military Lending Act (MLA) is a good place to start for military service members and their families to understand their financial rights. Offers of easy money loans are often a web leading to high cost loans with a lot of hidden fees.

With serving their country — our country, military members do not need to be burdened with debt they cant pay back.

A particular troubling offer one needs to stay clear of are high interest payday loans. These loans appear affordable on the surface but deep in the terms can be fees and interest amounting to more than a service member can afford. These types of offers leave their families with the added stress of trying to pay the debts while the military member is off serving our country.

Whether its a payday advance loan, vehicle title loan, line of credit or tax anticipation loan, military family members need to be careful and educate themselves with the MLA to protect their finances.

You can learn more about military financial protection and the Military Lending Act here as well as discover legitimate loan offers for military personal.