LOAN AGREEMENT
The purpose of the e-cashadvance.com Master Cash Advance
Agreement is to make you, our customer, fully aware and
informed of all terms and conditions of our policies,
as well as all federal and State of Delaware 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 e-cashadvance.com.
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 cash advance Program). e-cashadvance.com, through
its website does not discriminate based on any of these
factors. In addition e-cashadvance.com 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 cash advance) 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 e-cashadvance.com cash advance program are
given.
Federal Truth in Lending Act (T.I.L.A.)
e-cashadvance.com Terms and Conditions
Cash Advance Amount
(Amount Financed) Cash Advance Fee
(Finance Charge)
Total of Advance Transactions
(Total of Payments) Term of Cash
Advance
1 2 3 4
$100.00 $30.00 $130.00 Due on your nearest payday (maximum
of 15 days)
$200.00 $60.00 $260.00 Due on your nearest payday (maximum
of 15 days)
$300.00 $90.00 $390.00 Due on your nearest payday (maximum
of 15 days)
View the AnnualPercentage Rate (APR) Chart.
1) Cash Advance Amount - This is the Amount Financed-
The amount of cash advance provided to you.
2) Cash Advance Fee - This is the Finance Charge –
The dollar amount the cash advance will cost you.
3) Total of Advance Transaction – The amount you
will have to pay after you have made payment as scheduled.
4) Term – This is when the cash advance total payment
is due.
5) Annual Percentage Rate -The cost of your advance as
a yearly rate.
Extension of Payment Requirements
e-cashadvance.com LLC, does not recommend Extension
of Payment requests unless absolutely necessary. It is
not our intent for a provided cash advance to become a
long term obligation.
e-cashadvance.com will allow you to extend the original
cash advance under the following terms. Four (4) extension
of payment are allowed. After that, an additional amount
equal to the extension fee will be automatically debited
and applied toward the balance with each extension of
payment request until the balance is paid in full. The
original advance fee will not be reduced.
All extension of payment requests, must be submitted
online and must be received BY 11 AM (EST) the business
day prior to your original due date to be processed. We
cannot accept extension requests by email.
Electronic Funds Transfer (EFT) Agreement and Disclosure
This authorization is for those single or multiple entries
necessary to complete the original entries' authorization
amount and may be resubmitted if the original entry is
returned by the customer’s financial institution.
In the event the EFT is returned unpaid, an additional
$25.00 Return Fee or maximum legal amount may be electronically
withdrawn.
It is the policy of e-cashadvance.com 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.
Pre-Authorized Electronic Funds Transfer Payments
With this EFT Agreement, which is part of the Master
Cash Advance Agreement, the customer authorizes e-cashadvance.com
, 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 e-cashadvance.com
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 e-cashadvance.com
and the Financial Institution a reasonable opportunity
to act on it. You understand and agree that you may revoke
this ACH/EFT authorization only after all payments are
completed and e-cashadvance.com is paid in full.
Further, by submitting the application form, the customer
authorizes e-cashadvance.com 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 e-cashadvance.com
and/or assigned collection company to submit ACH/ EFT
and/or bank draft debits for partial payments of cash
advances and fees (such partial payments shall be credited
first to fees payable, then to cash advance principal
payable); as necessary to allow full repayment of the
cash advance and any/all associated fees to be completed.
The customer authorizes e-cashadvance.com (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 e-cashadvance.com.
The customer understands and agrees that e-cashadvance.com
does not need to notify the customer prior to any recurring
debit entry for a fixed amount, or prior to any point-of-sale
debit entry initiated by the customer, or prior to any
credit item.
YOUR PROMISE TO PAY
You promise to pay us the Amount Financed, the Finance
Charge and other permitted charges 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, and that the amounts set forth in the Federal
Truth-In-Lending Disclosures are not in dispute.
You have made promise to pay us or to our order, (per
your electronic signature on original advance application
of Master Agreement) in one payment on the date indicated
in the payment schedule, or if extended payment request
was submitted and processed, the total of payments on
or after the next date your cash advance comes due. You
authorize us to effect this payment by one or more ACH/EFT
debits and or demand bank draft debit entries to your
account of your financial institution (bank or credit
union) until this cash advance comes due. You authorize
us to effect this payment by one or more ACH/EFT debits
and or demand bank draft debit entries to your account
of your (bank or credit union) financial institution until
this cash advance note is paid in full. You have confirmed
that you are not in bankruptcy proceedings, nor do you
contemplate or plan on filing bankruptcy in the future.
You promise to keep open and maintain an adequate balance
in your account to assure all payments are made to us
in a timely manner on the scheduled due date(s), until
this cash advance note is paid in full. I agree and confirm
this online cash advance transaction is due in full on
my next nearest pay date, unless an extension of payment
request is submitted and accepted by e-cashadvance.com
LLC. An extension of payment fee will be debited on the
original due date, and then the original advance amount
plus original fee will become due in full on my next scheduled
pay date. You agree that by submitting completed/ signed
AmeriCashAdvance.com internet request forms as a matter
of convenience, hereby constitutes the same legal and
binding document as providing e-cashadvance.com LLC
with your personal post dated check, in the amount of
the cash advance plus associated fees, for the scheduled
and authorized repayment of the cash advance amount that,
upon approval, will be credited by ACH/EFT to your financial
institution account.
If e-cashadvance.com 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 process. If in default, you authorize
e-cashadvance.com and/or their designated collection
agency to continue initiating ACH / EFT or bank draft
debit entries of your financial institution account for
full and/or partial payments of cash advance 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 e-cashadvance.com 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,
including the validity of this agreement to arbitrate
disputes as well as claims alleging fraud or misrepresentation
shall be resolved by binding arbitration by and under
the Code of Procedures of the National Arbitration Forum
(NAF) at the time the claim is filed. 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 e-cashadvance.com as uncollected due to NSF (non-sufficient/uncollected
funds), the customer agrees to have payment automatically
rescheduled for a repayment date (generally the following
pay date) to include fees associated with the return,
fees associated with the continued use of advanced amount
for the additional period of time over the maximum allowed
of 15 days, and the original advance plus fee, that will
be presented to customers account with up to five (5)
separate ACH/EFT transactions to obtain payment in full.
e-cashadvance.com LLC will reschedule payments by ACH/EFT
with subsequent additional fees incurred each time for
the continued use of the original advance balance amount,
together with previous returned payment fees a maximum
of two (2) additional times in attempt to have all payments
completed and have e-cashadvance.com paid in full.
If e-cashadvance.com LLC is still unsuccessful in obtaining
payment, and customer in default has not made payment
of balance owed by Western Union Quick Collect process,
the account in default will be transferred to our designated
Law Collection firm and litigation/collection procedures
will begin. e-cashadvance.com LLC may also file a claim
for a civil judgment award against the customer with the
National Arbitration Forum for all monies, fees, and costs
associated with obtaining payment in full. Upon award
of judgment against customer in default which is final
and binding, the judgment award will be filed in the civil
court in the jurisdiction of the defaulted customer's
county of residence. 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, etc.)
If the customer's pre-authorized payment is returned
to e-cashadvance.com as uncollected due to any other
reason, and customer has not contacted our office immediately
upon notice, to obtain Western Union payment instructions,
and subsequent payment in full is not obtained by Western
Union Quick Collect process, the customer's account will
AUTOMATICALLY 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, TransUnion, Experian, and/or
Equifax.
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 advance. 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
to the named Drawee, is returned due to insufficient funds
or credit, stopped payment, or closed account, or any
other reason, we shall assess a $25 returned fee.
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 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 advance 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 this Master Agreement
and by submitting the online information application by
Internet, I am applying for a cash advance 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,
nor contemplating bankruptcy now or in the future. I authorize
you to verify the information in this application and
hereby give e-cashadvance.com consent to obtain information
on me from a consumer reporting agency or other various
means available. I understand e-cashadvance.com 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.
These transactions shall take place in the State of Delaware
and Delaware Law shall govern all aspects thereof except
as federal laws may apply.
(Be sure you fully understand the e-cashadvance.com
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.)
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DELAWARE Licensed Lenders Regulations
Itemized Schedule of Charges
(5 Del. C. . §§2218 and 2231)
