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Show DEAR VETS... " By HELPFUL HUB Veterans Administration has , warned that dividends paid to veterans on their G I insurance are not assignable under the law, and that dividend checks may not be withheld from them as security for indebtedness due an individual or firm. V A issued this warning after noting that some veterans have directed that their checks be mailed to certain business establishments estab-lishments in various localities. V A said the agency has no choice but to honor such requests, re-quests, since the veteran has the right to have his check mailed to any address he designates. desig-nates. However, no one has the legal right to withhold dividend divi-dend checks from veterans after receipt, either for the purpose I of procuring settlement of a debt or for any other reason. Veterans are good G I loan risks, according to V A statistics. statis-tics. Of the 1,828,000 G I loans granted thru Dec. 1, 1949, only seven-tenths of 1 per cent (or 13,031 loans) had defaulted, causing the V A to make good the guaranteed or insured portions por-tions of the loans. And, even part of the sum V A had to pay to lenders still is subject to further fur-ther recovery. Better than one-third of the 113,262 G I business loans granted thru Nov. 21, 1949, already al-ready have been paid in full, V A reports. V A urges veterans to use their loan privileges wisely, advising ad-vising that the veteran check carefully on whether that home, business or farm is a good investment in-vestment before applying for a loan. Most veterans have until July 23, 1957, in which to apply for G I loans, but the veteran can use his maximum G I loan guaranty only once. |
