Loan Agreement 123MoneyHelp

The purpose of this Agreement is to insure that you are informed of all the terms, conditions and policies of 123MoneyHelp. This should remove all “The Fine Print” and hopefully make you, our valued customers, more comfortable in all your dealings with 123MoneyHelp -- your reliable installment loan direct lender.

Printable Version

- Printable version of Section 3: Agreement / Authorization Form only.

 


 

Table of Contents

Click on the section you wish to view, or scroll down to view the pursuant agreement.

1) PAYMENT ARRANGEMENTS
    a) Payment Agreement
    b) Early Payments
    c) Late Payments
    d) Return of Payments
    e) Right of Rescission

2) “EFT/ACH” AUTHORIZATIONS

3) AGREEMENT/AUTHORIZATION FORM

4) DEFINITIONS


1) PAYMENT ARRANGEMENTS

a) Payment agreement

I agree to pay 123MoneyHelp the “Amount Financed” and “the Finance Charge” for the amount borrowed, according to the payment schedule agreed upon on my “Payment Date”. I understand and agree that this “Payment Date” will be my next nearest payday and each payday thereafter until my loan agreement is satisfied. I authorize 123MoneyHelp to ACH/EFT debit the total amount due or any part thereof until this cash advance is paid in full.

I agree to maintain and keep in good standing the account with the financial institution I supplied in my application so that 123MoneyHelp can receive all payments due, in a timely manner.
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b) Early Payments

I may prepay all or part of the “Cash Advance Amount” at any time. If I do so before my “Payment Date(s)” I shall receive a pro-rated discount on my “Finance Charge”.
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c) Late Payments

I may request extra time to pay my loan.  Because you are agreeing to an Installment Loan with a fixed payment schedule, it is not necessarily easy to restructure your loan.  We may, from time to time, assist a client who is having difficulty payment their loan according to schedule and their may be a fee for this assistance.  This is just a service that 123MoneyHelp can use for “Preferred Customers” at their discretion. All requests must be made a minimum of 3 days before my “Payment Date”.
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d) Return of Payments

If my pre-authorized payment is returned by my financial institution to 123MoneyHelp for any reason, I agree that 123MoneyHelp can reschedule me for a repayment date and may include extra fee of 5% on the outstanding, unpaid installment payments.

If 123MoneyHelp is unable to obtain this payment in full, my account will be considered in default and could be transferred to a collection agency where I may accrue even more fees.
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e) Right of Rescission

As required by federal law, you are given the right to rescind. In order to rescind you must notify 123MoneyHelp of the rescission by mail, telegram, or other means of written communication. You may only exercise the right to rescind until midnight of the third business day following the original contract agreement.
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2) EFT/ACH AUTHORIZATIONS

To serve you better 123MoneyHelp has an electronic banking service to help you prevent “NSF” return fees by your bank. In ordinary course of business we obtain your written pre-authorization to process your payments electronically. This allows us to submit an electronic entry to your bank instead of a check. Providing the payment is honored, Under Federal Regulation E, authorizing this transaction does not give us the right to access your account further. Only the authorized amount can be debited from your account. Payments due are presented to your bank on the morning of your “Payment Date”.

I hereby authorize 123MoneyHelp or their agent to initiate debits/credits entries to the account I supplied, for all payments due, including but not limited to “Amount Financed”, “Finance Charge”, “Payoff Balance”, , “Service Fee” and any other relevant fees.

You will be provided written notice at least 10 days before a scheduled date of transfer for pre-authorized transfers which vary in amount from the previous transfers.
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3) AGREEMENT AND AUTHORIZATION FORM

1.) I acknowledge that I have read, understand, and agree to all the conditions, terms, and disclosures of the 123MoneyHelp agreement.

2.) I acknowledge that I have provided my accurate banking information, including routing and account number for 123MoneyHelp to use for debit/credit transactions. If I am using AccelaCa$h, I have provided my personal debit card information, including account number and expiration date, to use for credit transactions.

3.) Once approved, I give 123MoneyHelp authorization to deposit a cash advance into my account. This amount will be my "Amount Financed". ACH transactions should appear in my account within 2-3 business days if authorized by my bank.  In some cases it could take longer.  If the deposit is made by way of electronic check it could take as many as 5 business days.  AccelaCa$h transactions will appear in my account within a few hours time if authorized by my bank.

4.) I understand that the "Amount Financed" may be less than the amount I requested.

5.) I authorize and approve 123MoneyHelp to withdraw the payments according to the amount financed and relevant payment schedule for my Installment Loan; the first payment due will be according to said schedule and in most cases will be my next payday. If I have opted for AccelaCa$h same day funding, I authorize and approve 123MoneyHelp to withdraw $9.99 in addition to the "Amount Financed" plus the "Finance Charge" on my first payday following the loan.

6.) I understand that I am being issued an Installment Loan and my payments will be withdrawn according to the payment schedule communicated to me by 123Moneyhelp, LLC.  Any changes to the Installment Loan Agreement and payment schedule may result in additional fees and those changes are at the discretion of 123Moneyhelp, LLC. 

7.) I confirm and promise that I am not currently in bankruptcy proceedings nor am I planning on filing bankruptcy in the future.

8.) I understand that all transactions will be deemed to have taken place in the State of Delaware regardless of where I viewed, submitted or accepted this application and agreement.

9.) I understand and agree that this agreement and authorization are binding and valid for now and as requested in the future and will remain in effect.

10.) I understand that Federal law provides important protections to active duty members of the Armed Forces and their dependents. I am not an active or retired member of the Armed Forces nor a dependent of an active or retired member of the Armed Forces.

11.) I understand that if my payment of "Finance Charge" and/or "Amount Financed" on my due date is rejected by my bank for any reason, I may be assessed a 5% fee on the outstanding, unpaid installment payment. I understand that if I fail to make arrangements to resubmit payment, my account may be reported unpaid to Microbilt and/or Clarity, databases used by lenders to determine whether or not to make loans to consumers in the future, and may be sent to a collections agency .

12.) 123MoneyHelp is a Delaware based Licensed Lender. If you apply, we will receive and process your application here, the same as if you submitted it to us in person at our office. We only make loans in Delaware. If we approve your application, the funds will be deposited from our account here in Delaware. Our loans are governed by Delaware State law. We are not licensed, registered, or authorized to do business in any other state. Delaware law governing consumer loan agreements may be different from the laws of the state where you reside. If you do not want to enter into a loan agreement subject to Delaware law, you should apply for this loan at a lender located in the state where you live.

13.) If you prefer loan funding by mailed check or any other means please specify to our loan specialist so that an alternative method of funding may be provided to you.

14.) If you prefer a payment method other than direct debit by ACH or electronic check, please indicate to our loan specialist in what form you wish to make your payment. Mailing payments in the form of check or money order would be examples of alternatives to direct debit by ACH or electronic check.

15.) 123MoneyHelp reserves the right to share your email address, phone number, and physical address with its third party partners and affiliates, by virtue of the consent implicit by the signing of this application, for overall marketing purposes of products including, but not limited to, pre-paid cards, auto insurance, and others, of which 123MoneyHelp shares a partnership or affiliate relationship with the source company.

Indemnity
As a condition of using this website and/or the services offered herein, I agree to indemnify and hold harmless 123MoneyHelp and its participating lenders from and against any and all liabilities, expenses (including attorney’s fees), and damages arising out of claims resulting from my use of this website, including, without limitation, any claims alleging facts that if true would constitute a breach by me of these Terms.

Accuracy
I represent and warrant that the information I have provided in my application is accurate and truthful. I understand that if I do not provide true and correct information, 123MoneyHelp has reserved the right to deny, suspend, or terminate its service. Further, I understand that 123MoneyHelp reserves the right to refuse to provide its services to me, in its sole discretion, with or without cause.
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4) DEFINITIONS

A) “Amount Financed” – The amount of cash you receive from 123MoneyHelp

B) “Finance Charge” – Your actual cost for the cash advance you receive.

C) “Payoff Balance” – This is the “Amount Financed” minus anything you have paid to your balance. * See pay-down requirement under Delaware State Regulations.

D) “Service Fee” – This could any of several fees charged to you if your account goes delinquent.

E) “Payment Date” – This is the date your payment is due, this should be your next payday.

F) “APR” – Annual Percentage Rate – The “Finance Charge” expressed as a yearly rate.

G) “ACH” – Automated Clearing House – The agency responsible for financial electronic transactions.

H) “EFT” – Electronic Funds Transfer – An electronic banking service to process your payments electronically.
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DELAWARE Licensed Lenders Regulations
Itemized Schedule of Charges
(5 Del. C. . §§2218 and 2231)

The Delaware State Licensed Lenders Regulations and Itemized Schedule of Charges are available on this website by clicking here. (to review click here)


DISCLOSURE: 123MoneyHelp is a Delaware based Licensed Lender. If you apply, we will receive and process your application here, the same as if you submitted it to us in person at our office. We only make loans in Delaware. If we approve your application, the funds will be deposited from our account here in Delaware. Our loans are governed by Delaware State law. We are not licensed, registered, or authorized to do business in any other state. Delaware law governing consumer loan agreements may be different from the laws of the state where you reside. If you do not want to enter into a loan agreement subject to Delaware law, you should apply for this loan at a lender located in the state where you live.

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