Show I Vets Administration I Information Service Veterans administration Is La receiving I I many queries from men now entering active military or naval n val service concern- concern concernIng concernIng concerning Ing their rights as servicemen under I Ithe the Soldiers Soldiers' and Sailors Sailors' Civil Relief Act of 1940 as amended Certain sections of the act were ter ter- terminated terI terI I by an act that set July 25 1947 1047 I as BS the official end of the war for the purpose of ot certain benefits benefits' for veterans of ot wartime service V V-A. V said The Draft Act of ot 1948 reinstated those sections of t the Soldiers' Soldiers and I IS Sailors Sailors' S Relief Act previously terminated ed and md the tho Draft craft Act of 1950 extended I j Ithe tho the law for tor another year to July 9 9 1951 j I V-A V explained Tho The Soldiers' Soldiers and Sailors Sailors' Civil U Relief I Act now applies to such civil liabilities as rent Installment contracts mortgages mortgages ages inges Including OI at loans commercial I life Insurance policies taxes and public lands V-A V administers only the Insurance section although certain legal ques ques- questions questions arising under the loan guaranty I program will come up for V-A V consid consid- I Under the act as amended servicemen serviceman n nor or women may apply to V-A V for the I protection of ot their commercial life insurance in insurance In- In Insurance policies while they are In ser ser- vice This protection Is afforded by way of guarantee of ot premiums V-A V has hIlS authority to approve each application In inan inan amount an amount not to exceed of the face faco value of ot the policy or policies poll Jes of each Individual V-A V also has hIlS the th authority auth auth- authority authorIty to disapprove any application that does not meet the requirements of the law Any premiums or policy loan Interest paid by V-A V for the Insured under this act remains as an Indebtedness to the government until repaid by the service servIce- serviceman servIceman serviceman man or veteran following his discharge from service V-A V is not authorized to waive this indebtedness V-A V reminded that this protection of I commercial policies is made only upon application by the serviceman It Is not I automatic Guarantee e of ot premiums by V-A V is not made unless requested bytho by bytho bytho tho serviceman and unless and until the application is approved by V V-A. Generally speaking the provisions of the act respecting foreclosure of at mor mor- mortgages mortgages mortgages payment of taxes etc apply to toGI toGI GI at loans exactly as though these loans were not V-A V guaranteed or Insured The V-A V loan guaranty regulations permit lenders and debtors to agree with V-A V approval to reduce the amount of ot monthly payments and ex extend ex- ex extend extend tend the maturity of the debt However neither V-A V regulations nor the act provide for a that that is sus sus- suspension suspensIon suspension pension of monthly payments I |