The purpose of these disclosures is to make you, our customer, fully aware and informed of all terms and conditions of our policies, as well as all federal regulations as required by law.
We value the opportunity to serve your needs and want you to be completely satisfied and comfortable in all transactions with National Cash Lenders.
FEDERAL DISCLOSURE REQUIREMENTS
Regulation B in Federal Law prohibits the consideration of Age, Sex, Race, Ethnicity, Gender, National Origin, or Handicap as a basis for making anyone a loan (as in our Line of Credit Program). National Cash Lenders, through its website does not discriminate based on any of these factors. In addition National Cash Lenders will not enter into or maintain vendor/reciprocal information service type relationships with anyone who does not conform to these anti-discriminatory practices.
Regulation Z in Federal Law requires the full disclosure of all costs and terms associated with any credit purchase or transaction (such as this line of credit) and further requires that the costs associated with the transaction be expressed as an annual percentage rate of interest or A.P.R.. Below all costs, terms and rates associated with the National Cash Lenders cash advance / line of credit program are given.
Federal Truth in Lending Act (T.I.L.A.)
National Cash Lenders Terms and Conditions. Sample Truth in Lending Disclosure
($500) Line of Credit Amount – This is the Amount Financed – The credit limit for you L.O.C. provided to you.
($1250) Interest Rate & Fees – This is the Finance Charge – The dollar amount L.O.C. will cost you.
($1750) Payment Total – The amount you will have to pay after you have made payments as scheduled.
(480%) Annual Percentage Rate – The cost of your credit on a yearly rate.
Line of Credit Payments
Upon your loan limit approval, you will receive a Line of Credit Agreement that will include a Truth In Lending Disclosure indicating the cost of the credit extended to you if you were to have the entire loan (credit) limit fully advanced for a period of one year. Due to the irregular draw / payments on a line of credit account, your actual cost for the credit will vary but it will not exceed the APR stated in the TILA Disclosure portion of your Line of Credit Agreement..
Disclosure of Data to Third Parties
If you choose to provide personal information, it will be used for the following purposes:
(1) Sharing of your information with trusted third parties in order to approve your loan such as credit and banking reports, as well as direct communication such as text messages, email, and telephone calls.
(2) For marketing products and services which we determine, in our sole judgment, that you might find of interest such as loan specials, coupons, and other information such as industry news and helpful tips. At any time you can opt out of all marketing communication by contacting our customer service department at 877-369-0505 or by email at firstname.lastname@example.org.
Sharing of Information on Behalf of Applicant
We are the lender and DO NOT share your personal information to other 3rd parties without your prior consent.
Our Right to Contact You
Existing Business Relationship
Anti Spam Policy: Can-Spam Act Compliance
We are dedicated to ensuring compliance with the United States federal ‘Can-Spam Act’, which took effect January 1, 2004. You may receive email from us in the following circumstances:
- Acknowledging your application has been received and requesting additional action
- Requests for additional information to support your current application
- Response to your inquiries
- Thanking you for your valued business
- Advertisements for our products, services, changes in services, new product availability
- Advertisements for third party products and services where we have determined that such product or service may be of interest to our customers
To ensure compliance with the Can-Spam Act, We have implemented the following guidelines for email delivery:
All emails sent to you by US will identify NCL, LLC as the sender.
The Subject Line of any email you receive will always accurately describe the subject matter of the email.
Any email from us includes the ability to unsubscribe from future email messages.
Unsubscribing will ensure the customer is removed from ALL lists at NCL, LLC. This excludes customer service emails, or email from our partners.
Electronic Funds Transfer (EFT) Agreement and Disclosure
It is the policy of National Cash Lenders to expedite all debits and credits as soon as possible upon approval; however, unavoidable delays can result with the processing company as a result of inadvertent processing errors, acts of God, etc. Normal processing time should not exceed two (2) business days under most circumstances but may exceed that in extraordinary circumstances.
Text Message Policy
By providing your cell phone number, you are providing us with consent to send you text messages in conjunction with the services you have requested. Your cellular provider’s Msg & Data Rates may apply to our confirmation message and all subsequent messages.
You understand that text messages we send may be seen by anyone with access to your phone. Accordingly, you should take steps to safeguard your phone and your text messages if you want them to remain private.
Please notify us immediately if you change mobile numbers or plan to provide your phone to another person.
If we modify this Text Message Policy, we will notify you by sending you a text message with a link to the new policy. We may terminate our text message program at any time.
If you have any questions about this policy, would like us to mail you a paper copy of this policy, or are having problems receiving or stopping our text messages, please call (877) 369-0505 or email us at email@example.com.
You agree and consent to be contacted by the Company, our agents, employees, attorneys, affiliates, subsequent creditors, loan servicing companies, and third-party collectors through the use of email, and/or telephone calls, and/or SMS text messages to your cellular, home or work numbers, as well as any other phone number you have provided in conjunction with this account, including the use of automatic telephone dialing systems, or an artificial prerecorded voice.
Opt-Out or STOP
This policy applies to text messages sent by National Cash Lenders, LLC to our customers while and after they use our product. If you wish to stop receiving text messages from National Cash Lenders, LLC, reply to any text message we have sent you and in your reply simply type STOP. Your stop request will become effective within one business day. You may also stop messages by calling (877) 369-0505 or email us at firstname.lastname@example.org.
Help or Support
If at any time you need our contact information or information on how to stop text messages, reply to any text message we have sent and in the reply text simply type HELP. Upon receiving your text message, we will send you a text message with this information. It is our plolicy to send no more than 6 messages per month. In general, the messages we send provide you with information about your account. Some of the text messages we send may include links to websites. To access these websites, you will need a web browser and internet access.
Agreement To Receive Telemarketing Text Messages
By signing this section, you authorize National Cash Lenders, LLC, or our agent, to send marketing text messages to the mobile number you have provided and this is listed on you loan application. You are not required to authorize marketing text messages to obtain credit or other services from us. You understand that any messages we send you may be accessed by anyone with access to your text messages. You also understand that your mobile phone service provider may charge you fees for text messages that we send you, and you agree that we shall have no liability for the cost of any such text messages. At any time, you may withdraw your consent to receive marketing text messages by calling us at 877-369-0505. Alternatively, simply reply “STOP” to any marketing text messages we send you.
Pre-Authorized Electronic Funds Transfer Payments
With this EFT Agreement, which is part of the Master Line of Credit Agreement, the customer authorizes National Cash Lenders, to initiate debit/credit entries to the customer’s account for all payments due, including any returned unpaid item fees due, on which the subject of this agreement is drawn and the Financial Institution in which the account is held to debit/credit the same to such account. This authority is to remain in full force and effect until National Cash Lenders and the subject Financial Institution have received written notification from the customer of its termination in such time and in such manner as to afford National Cash Lenders and the Financial Institution a reasonable opportunity to act on it. You understand and agree that you may revoke this ACH/EFT authorization upon notification to do so and you have made alternative arrangements for repayment of your current loan. Loan repayment can be made via Western Union, Money Orders, Cashiers Checks, Credit Card, Pay Near Me, and Wire Transfers. To make alternative arrangements you agree to contact customer service two business days prior to your scheduled debit repayment date. This allows us to coordinate alternative repayment options and keep your account in good standing.
Further, by submitting the application form, the customer authorizes National Cash Lenders and the customer’s current verified financial institution (even if the financial institution and/or account numbers are different than those on the original application) to initiate debit (ACH or bank draft) and credit entries as necessary when an original ACH/ EFT transaction is returned unpaid or unable to complete. The customer authorizes National Cash Lenders and/or assigned collection company to submit ACH/ EFT and/or bank draft debits for partial payments of line of credit fees (such partial payments shall be credited first to fees payable, then to the line of credit principal payable); as necessary to allow full repayment of the line of credit and any/all associated fees to be completed. The customer authorizes National Cash Lenders (and its EFT Processor) to make electronic funds transfers (EFT), both debit and credit entries, to and from any bank account of the customers at any institution, from time to time, for fixed and variable amounts, including recurring transactions and point-of-sale transactions, according to the terms of the customer’s agreement with National Cash Lenders. The customer understands and agrees that National Cash Lenders does not need to notify the customer prior to any recurring debit entry for a fixed amount, so long as those payments have been disclosed in the TILA document provided to the customer, or prior to any point-of-sale debit entry initiated by the customer, or prior to any credit item.
YOUR PROMISE TO PAY
Upon loan approval, you promise to repay the amount financed according to the Federal Truth-In-Lending disclosures. You acknowledge and agree that you are indebted to us in the amount of the Total of Payments (unless loan is paid early), and that the amounts set forth in the Federal Truth-In-Lending Disclosures are not in dispute.
If National Cash Lenders is unable to collect payment from your provided account for any reason to effect debit entries as agreed, you promise to pay us all sums you owe immediately, by making payment in full by using Western Union Quick Collect, cashier check, electronic wire, credit card, Pay Near Me, or money order. If in default, you authorize National Cash Lenders and/or their designated collection agency to continue initiating ACH / EFT debit entries of your financial institution account for full and/or partial payments of cash advance / line of credit and associated costs as necessary until all total amounts owed are paid in full.
I agree, to the extent permitted by law that I will not bring, join, or participate in any class action or multi-plaintiff action as to any claim, dispute, or controversy I may have against National Cash Lenders, LLC. I agree to the entry of injunctive relief to stop such a lawsuit or to remove myself as a participant in the suit. This agreement does not constitute a waiver of any of my rights and remedies to pursue a claim individually.
Arbitration: Both parties agree that any claim, dispute, or controversy between us, any claim by either party against the other or the agents, services, or assigns of the other are to be arbitrated on an individual basis, and it is not the intent of the parties that arbitration should proceed on a class basis. Rules and form of the NAF may be obtained and all claims shall be filed at any NAF office on the World Wide Web at www.arbforum.com or at P.O. Box 50131, Minneapolis, MN 55405. Any arbitration hearing, if one is held, will take place at a location near your residence. Your arbitration fees will be waived by the NAF in the event you cannot afford to pay them. This arbitration agreement is made pursuant to a transaction involving interstate commerce and shall be governed by the Federal Arbitration Act 9. USC Section 1-18. Judgment upon the award may be entered by any party in court having jurisdiction. Notice: Both parties have had the right or opportunity to litigate disputes through a court but we have agreed instead to resolve disputes through binding arbitration.
RETURN OF PAYMENT POLICY
If the customer’s pre-authorized payment is returned to National Cash Lenders as uncollected due to any other reason, and customer has not contacted our office immediately upon notice, to obtain alternative payment instructions, and subsequent payment in full is not obtained, the customer’s account may be forwarded to our collection Law Firm and collection procedures will begin immediately. The customers’ defaulted account may also be transferred to the National Arbitration Forum where a claim for civil judgment will be filed against the customer in default. Upon award of claim, which is final and binding, the award of judgment will then be filed in the county court of your residence for payment in full. The customer in default, is responsible for all additional costs associated with obtaining payment in full (National Arbitration Forum fees, collection fees, court, and attorney fees). In addition, the customer in default will be reported to TeleTrack, TeleCheck, and SCAN.
As per the customer’s signed agreement, all disputes of payment may also be forwarded to The National Arbitration Forum and a claim for judgment will be filed against the customer in default. Upon award of claim, which is final and binding, the customer in default will be responsible for all additional costs associated with obtaining payment in full ( National Arbitration Forum fees, collection fees, court and attorney fees). In addition, the customer in default will be reported to any or all of the following: TeleTrack, TeleCheck, Scan, CL Verify,TransUnion, Experian, and/or Equifax.
IF AN ACCOUNT HOLDER IS UNABLE TO HONOR THEIR LOAN AGREEMENT “AS AGREED TO”, WE WILL DEVELOP A “WORK OUT” PROGRAM AND CEASE THE ADDITION OF FEES. IT IS OUR INTENTION TO HELP YOU IN YOUR TIME OF FINANCIAL NEED. WE CAN MAKE A PAYMENT ARRANGEMENT OF ANY KIND THAT WILL HELP YOU TO COMPLETE YOUR OBLIGATION AND BE SUCCESSFUL IN IT. YOU MUST CONTACT OUR OFFICE IF THE NEED ARISES RATHER THAN IGNORE YOUR LOAN RESPONSIBILITY.
ADDITIONAL TERMS AND CONDITIONS OF THIS AGREEMENT
Prepayment: You may prepay your obligation under this Agreement in full at any time without penalty.
Method of Payment: Your electronic authorization in the amount of the Total of Payments stated in the Federal Truth-In-Lending Disclosures and dated as of the date indicated in the Payment Schedule stated in the Federal Truth-in-lending Disclosures (the “Payment Date”) will be held by us until the Payment Date as security for this Line of Credit. You agree that we may debit your account for the Payment if you have not paid us in cash or by cashier’s check, money order, or other immediately available funds the amount of Total Payments before noon (EST) on the Payment Date. If payment is made prior to the EFT/ACH payment date, we will cancel the electronic authorization at the time we receive payment.
Returned Payments: In the event your electronic payment of any amount due under this agreement, and upon presentment, is returned due to insufficient funds or credit, stopped payment, or closed account, or any other reason, we shall assess a $30 returned fee or maximum allowed in your state of residence.
Documentation: I agree that electronic mail, electronic forms, records, photocopies, and /or facsimile copies of the documents I submit are valid and enforceable as the original. I agree that by typing my name as my electronic signature, it is acknowledged and understood that it constitutes an acceptance of all terms and conditions of the master cash advance / line of credit agreement and is valid and enforceable.
Prepayment: You may prepay all or any part of the amount due under this Agreement at any time without penalty. If the line is prepaid before the final installment date, you shall receive a rebate of the unearned Finance Charge. The unearned portion shall be calculated on a pro-rata basis using a percentage derived by dividing the number of days from payment until maturity by the total number of days of the original loan term. NO rebate less than $5.00 is required.
By signing and submitting the application form, I understand and agree to all terms and conditions of National Cash Lenders Initial Disclosure and by submitting the online information application by Internet, I am applying for a line of credit loan and certify that information provided by me is true and correct under penalty of perjury. I agree that upon submission of my electronic signature, I am not presently involved in or contemplating bankruptcy now or in the future. I authorize you to verify the information in this application and hereby give National Cash Lenders consent to obtain information on me from a consumer reporting agency or other various means available. I understand National Cash Lenders reserves the right to decline an applicant at any time, with cause determined by judgment of risk, upon completion of due diligence of applicant. In order to process this application, I understand verification of the information I have provided is necessary, including, but not limited to, proof of residence, employment, and bank account verification. I accept personal responsibility for safeguarding any PIN or CUSTOMER NUMBER that might be assigned to me.
(Be sure you fully understand the National Cash Lenders program and procedures before signing and submitting forms as acceptance. If you are unsure, please take time to review or contact a customer service representative to answer any questions you may have.)