Central Portfolio Control (CPC) supports our country’s brave service members through our dedication to compliance with the Servicemembers Civil Relief Act. The SCRA provides special protections to eligible United States military members that allow them to focus exclusively on their mission rather than dealing with potential financial distractions.
The Servicemembers Civil Relief Act (SCRA) offers active-duty military, Reserves, National Guard, and commissioned officers in the Public Health Service and National Oceanic and Atmospheric Administration money-saving financial relief and special protections. There are 6 specific benefits and protections that include:
- Debts incurred prior to active duty have interest capped at 6%
- Protections against default judgments
- Protection against non-judicial foreclosures
- Specific protections for installment loans and repossessions
- Protection from apartment lease terminations or evictions
- Protection against the enforcement of storage liens
In most cases, a military commitment means that collection actions must be delayed for a certain amount of time, and as with any other type of collection, compliance with lawful standards is critical.
Central Portfolio Control cares deeply about our service members and actively supports military and veteran organizations and events. As a frequent sponsor of Naked Warrior Project events and other military-related charities, we actively demonstrate our personal commitment to our nation’s military each year.
“Our continued commitment to identifying service members protected under the SCRA is one of the ways that our company and the receivables industry show that we value the integrity of this act and our service members who answer the call of duty,” says Mike Lesher, Chief Operating Officer of Central Portfolio Control. “Over the past several years, debt collection and receivables management have evolved through technologies and policies that meet the needs of our active military and veterans. SCRA compliance plays an integral role in servicing these customers and helping support the brave men and women who protect our freedoms. Our company’s commitment to SCRA compliance demonstrates not only our support and appreciation of the service members who play a critical role in our nation’s defense but also our support of the family members who rely on them from afar.”
Agencies often have an automated, reliable SCRA Compliance Scrub solution to process data from the Department of Defense database and identify those qualifying for SCRA protection. Scrub services follow SCRA guidelines and help ensure that appropriate policies, procedures, and controls are in place to assist agencies such as ours with following SCRA guidelines and honoring our nation’s service members.
Servicemembers Civil Relief Act (SCRA) SCRA is a program that provides certain protections in lending for service members who are called to active duty. The SCRA was enacted in 2003 as a revision and expansion of the Soldier’s and Sailors’ Civil Relief Act of 1940 (SSCRA), a law that was designed to ease the financial burden on service members during periods of military service.
About Central Portfolio Control
Headquartered in Minnetonka, MN, Central Portfolio Control, or CPC, is a full-service and nationally licensed collection agency focused on the recovery of distressed accounts receivable. CPC manages accounts on behalf of our creditor clients while maintaining the highest ethical and legal standards regarding their collection activity. Since being founded in 1998, the CPC team has continued to grow the company by providing top-quality services to our clients and creating jobs within the local community.