FEDERAL DISCLOSURE REQUIREMENTS
Installment loans are advances that are intended to be paid off in set amount of payments. They are not designed as a solution to long term financial issues. If you would like to discuss other alternatives, feel free to contact a non-profit counseling service in your area.
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. 123MoneyHelp, through its website does not discriminate based on any of these factors. In addition 123MoneyHelp 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 123MoneyHelp cash advance program are given.
Federal Truth in Lending Act (T.I.L.A.)
123MoneyHelp Terms and Conditions
Click on the section you wish to view, or scroll down to view the pursuant agreement.
I agree to pay 123MoneyHelp the “Amount Financed” and “the Finance Charge” for that amount, according to my Installment Loan Payment Schedule. I understand and agree that my payments are on or around my nearest nearest payday. 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.
I may prepay all or part of the “Installment Loan Cash Advance Amount” at any time. If I do so before my “Payment Date” I shall receive a pro-rated discount on my “Finance Charge”. This charge will be either fifty percent (50%) of my “Finance Charge” or a percentage calculated by dividing the number of days since I received my cash advance divided by fourteen (14), whichever is larger.
As allowed by Delaware Law, if you are are late or delinquent on your loan, 123Moneyhelp, LLC reserves the right to charge one 5% delinquency charge on the unpaid installment payments or portion thereof under the loan agreement which is in default.
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. You may not rescind each credit extension made under the plan if such extension is made in accordance with a previously established credit limit for the plan.
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”. Although Installment Loans are not variable rate loans, if your payment should vary for any reason, 123Moneyhelp, LLC will send you written notice at least 10 days before the scheduled date of the transfer for preauthorized transfers which vary in amount from the previous transfer.
1.) I acknowledge that I have read, understand, and agree to all the conditions, terms, and disclosures of the 123MoneyHelp agreement.
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 according to your payment schedule, this should be on or close to your paydates.
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.
DELAWARE Licensed Lenders Regulations
The Delaware State Licensed Lenders Regulations and Itemized Schedule of Charges are available on this website by clicking here. (to review click here)
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You can now apply for auto insurance directly through 123 MoneyHelp, and get an answer immediately. Click below to apply for auto insurance now.