AUTHORIZATION FOR ELECTRONIC REPAYMENT OPTIONS

You may select one or more of the convenient recurring loan repayment options below.


ACH AUTHORIZATION (“ACH Authorization”). In order to make (1) the installment payments due to Lender on your Loan and (2) the installments due to CAB on your Credit Services Agreement associated with your Loan, you hereby voluntarily authorize us and our agents, successors and assigns to initiate recurring debit entries for the total amounts set forth in the Payment Schedule and to your bank account that you provided to us in your loan application (“Your Bank Account”) at the depository institution named in your loan application (“Your Bank”).  You are not required to select this payment method as a condition to obtaining an installment loan. You agree that we may initiate the debit entries on or shortly after the dates set forth in the Payment Schedule in your Loan Agreement (the “Loan Agreement”) and this ACH Authorization, including principal, interest, late charges, or other amounts owing to Lender.  If you make any partial prepayments on your Loan, then you authorize us to vary the amount of any preauthorized payment by ACH debit as needed to reflect those partial prepayments. You also acknowledge and agree that we have the right to re-initiate the debit entries two additional times per scheduled payment for the same amounts, if they are dishonored.  

Range of Varying Amounts.  Please note that you have the right to receive notice of all transfers varying in amount, and that by signing this ACH Authorization you acknowledge that we have elected to offer you a specified range of amounts for debiting (in lieu of providing the notice of transfers in varying in amount).  The amount of any ACH debit may range in amounts from (1) the amount of any scheduled payment less any partial prepayments on your Loan and up to (2) the full amount you owe under the Loan Agreement plus, as applicable, any late charges you may owe. For any debit in an amount outside of this specified range, we will send you a notice.  Therefore, by agreeing to the terms of this ACH Authorization you are choosing to only receive notice when a transfer amount exceeds the range specified above.

 

Termination.  You understand and acknowledge that you may terminate this ACH Authorization by notifying us in such time and manner as to afford us and Your Bank a reasonable opportunity to act on it.  This ACH Authorization will also terminate upon your full and final payment of the amount you owe us under the Loan Agreement.

Missing or Erroneous Bank Account Information.  You represent and warrant that Your Bank Account is a legitimate, open, and active account. If there is any missing or erroneous information regarding Your Bank Account or Your Bank, then you authorize us to verify and correct such information, including, but not limited to, the bank account number and the routing number. You agree that the transactions authorized herein comply with all applicable U.S. law. If you believe we charged your Bank Account in a manner not contemplated by this ACH Authorization, please contact us.

ACH Credit.  You authorize us to initiate ACH credit entries to Your Bank Account as may be necessary to obtain an accurate balance under the Loan Agreement.  


DEBIT CARD PAYMENT AUTHORIZATION (“Debit Card Authorization”).  In order to make (1) the installment payments due to Lender on your Loan and (2) the installments due to CAB on your Credit Services Agreement associated with your Loan, you hereby voluntarily authorize us and our agents, successors and assigns to initiate recurring debit entries for the total amounts set forth in the Payment Schedule and to your Debit Card that you provided to us in your loan application (“Debit Card”).  You are not required to select this payment method as a condition to obtaining an installment loan. You agree that we may initiate recurring debit entries for payments by Debit Card in accordance with your Loan Agreement (the “Loan Agreement”), and this Debit Card Authorization, including principal, interest, late charges, or other amounts owing to Lender.  If you make any partial prepayments on your Loan, then you authorize us to vary the amount of any preauthorized payment by Debit Card as needed to reflect those partial prepayments.

Termination.  This Debit Card Authorization shall remain in full force and effect until the Account Agreement is paid in full or we receive notification from you that you wish to revoke it. You may revoke the Debit Card Authorization by notifying us in such time and manner as to afford us and Your Bank a reasonable opportunity to act on it.  This Debit Card Authorization will also terminate upon your full and final payment of the amount you owe us under the Loan Agreement.

Missing or Erroneous Bank Account Information.  You represent and warrant that the Debit Card is a legitimate, open, and active debit card.  If there is any missing or erroneous information regarding the Debit Card, then you authorize us to verify and correct such information, including, but not limited to, the debit card number, the bank account number, and the routing number. You agree that the transactions authorized herein comply with all applicable U.S. law. If you believe we charged your Debit Card in a manner not contemplated by this Debit Card Authorization, please contact us.  


Credit Entry.  You authorize us to initiate Debit Card credit entries to your Debit Card as may be necessary to obtain an accurate balance under the Loan Agreement.


THESE PAYMENT AUTHORIZATIONS ARE FOR YOUR CONVENIENCE IN PAYING AMOUNTS OWED UNDER YOUR LOAN AGREEMENT AND ARE NOT REQUIRED IN ORDER FOR YOU TO OBTAIN A LOAN.  If you select multiple payment options, then we will always submit your payment in the following order: (1) ACH debit and (2) Debit Card, unless you instruct us otherwise or we are no longer able to debit a particular method.

X __________________________________

Borrower Signature

Date:  __________________

Loan Number: _________________