Unfortunately, debt collection abuses are not the only financial hazards facing military personnel and their families.
Here are four other money woes confronting those who sacrifice and serve — and what’s being done to help.
Even though the U.S. Department of Veterans Affairs reported an 18% decrease in the number of homeless veterans in 2010, the issue remains a major challenge.
“Over the course of a year, 200,000 veterans are homeless,” says Christine Truhe, founder and president of Bonds of Courage, a Summit, N.J.-based non-profit that provides educational, career and financial services to post 9/11 troops, veterans and their families.
According to the National Coalition for Homeless Veterans, about 56% of all homeless veterans are African-American and Latino, despite accounting for roughly 13% and 15% of the U.S. population, respectively.
VA Secretary Eric Shineski in 2009 made a pledge to end homelessness among veterans within five years. Following that pledge, the VA spent about $3.5 billion on homeless programs in 2010 and has asked for $4.2 billion for 2011. The VA also has a toll-free National Call Center for Homeless Veterans (877-424-3838), with trained counselors staffing the phone lines 24 hours a day, 7 days a week. Read the rest of Lynnette’s article on WalletPop