Military Allotment Loans
A career in the military isn't like any other job. Military life demands all your focus. You have little time to devote to typical tasks like budgeting. Choosing to repay your military loan with an allotment plan helps you avoid late fees and boosts your credit score by making on time payments. With an allotment loan, the payment will be automatically deducted from your paycheck on the due date. You can choose to pay the minimum payment or a higher amount. This way you can pay your loan off earlier. An optional allotment payment lets you borrow money responsibly.
If you have bad credit or have been denied financing in the past, you might qualify for a military allotment loan. Since your payment is deducted directly from your paycheck, the lender knows you will make your payment on time. Because the lender is taking on less risk, they tend to be more lenient with their credit qualification standards.