This is HARD to read but it is a contract with payment schedule that they wanted me to sign to pay back a 350 dollar loan that spans from July 2012 to Nov. 2013....incredible!! If you are considering an easy payday loan option. Don't do it! This is an insane contract that takes advantage of being "in a tight spot". It is legally binding and a major expense in the long run.
TRUTH IN LENDING DISCLOSURES ANNUAL PERCENTAGE RATE
The cost of your credit as a yearly rate. 865.26 %FINANCE CHARGE
The dollar amount the credit will cost you. $2,280.00 Amount Financed
The amount of credit provided to you or on your behalf. $350.00 Total of Payments
The amount you will have paid after you have made all payments as scheduled. 35 Your Payment Schedule will be: Number of PaymentsAmount of Payments When Payments Due 35 $2,630.00Bi-Weekly (each Friday) beginning7/27/2012 Payment TotalPayment Due Date
Prepayment: If you pay off early, you may be entitled to a refund of part of the finance charge. See the terms of the Loan Agreement below for any additional information about nonpayment, default, and prepayment refunds. Itemization of Amount Financed: Amount given to you directly: $350.00. Amount paid on Loan #: 000002155-00 with us: $455.00. SPECIAL NOTICES: YOUR LOAN IS AN EXPENSIVE FORM OF BORROWING. YOU CAN SAVE FINANCE CHARGES BY PAYING OFF YOUR LOAN EARLY EITHER IN PART OR IN FULL. YOUR LOAN IS DESIGNED TO ASSIST YOU IN MEETING YOUR SHORT-TERM CASH NEEDS. IT IS NOT A SOLUTION FOR LONGER TERM FINANCIAL PROBLEMS. NON-PROFIT CREDIT COUNSELING SERVICES ARE AVAILABLE IN YOUR COMMUNITY FOR CONSUMERS EXPERIENCING FINANCIAL PROBLEMS. YOUR PROMISE TO PAY: You promise to pay us the Total of Payments according to the payment schedule in the Truth in Lending Disclosures plus all other amounts owed to us under the Loan Agreement. You agree that your finance charges will be calculated at the Annual Percentage Rate in the Truth in Lending Disclosures. If you have provided an ACH Authorization to us, we will debit Your Bank Account listed on the ACH Authorization for your scheduled payments on their due dates plus any accrued fees as provided in the ACH Authorization. Otherwise, you will pay us your scheduled payments on or before the due dates of those payments by cashiers check or money order directed to us at: West River Finance, LLC, PO Box# 30 Hays, MT 59527. All payments will be applied first to finance charges and fees and then to principal. DISBURSEMENT: In order to complete your transaction with us, you must electronically sign the Loan Agreement by clicking the "I Agree" button at the end of the Loan Agreement. We will then approve or deny your application and the Loan Agreement. If the Loan Agreement is approved, we will use commercially reasonable efforts to effect a credit entry by depositing the proceeds from the Loan Agreement into the bank account listed below in the ACH Authorization ("Your Bank Account"). The date that your loan proceeds are deposited to Your Bank Account is the Disbursement Date. Unavoidable delays as a result of bank holidays, the processing schedule of your individual bank, the untimely receipt of pay stubs, if such pay stubs are required, inadvertent processing errors, acts of God, and/or acts of terror may extend the time for the deposit. CANCELLATION: You may cancel future payment obligations under the Loan Agreement, without cost or finance charges, no later than 4:00 p.m. Mountain time of the next business day immediately following the Disbursement Date (Cancellation Deadline). To cancel future payment obligations on this loan, you must inform us in writing, by or before the Cancellation Deadline, either by email to firstname.lastname@example.org or by fax 888-983-4100, that you want to cancel the future payment obligations on this loan. If we timely receive your written notice of cancellation on or before the Cancellation Deadline but before the loan proceeds have been credited to Your Bank Account, then we will not debit Your Bank Account and both your and our obligations under the Loan Agreement will be rescinded. However, if we timely receive your written notice of cancellation on or before the Cancellation Deadline but after the loan proceeds have been credited to Your Bank Account, then you authorize us to effect a debit to Your Bank Account for the principal amount of the Loan Agreement. If we receive payment of the principal amount via the debit, then both your and our obligations under the Loan Agreement will be rescinded. If we do not receive payment of the principal amount by debit to Your Bank Account, then the Loan Agreement will remain in full force and effect. ASSIGNMENT: This Agreement may not be assigned by you. We may assign or transfer this Agreement and our related rights and obligations without notice to you and your consent is not required if we make such an assignment or transfer. DEFAULT: You will be in default under this Agreement if you do not pay us a scheduled payment or any other amounts you owe us when due or your chosen payment method is stopped, denied or otherwise dishonored. If you default on your loan, we can choose to declare all principal, finance charges and other amounts that you owe us to be immediately due and payable in full. If you are in default, we can debit Your Bank Account for the full amount that you owe us as provided in any ACH Authorization that you gave us. Additionally, if you do not cooperate with us on repaying your debt to us we may submit your name to a collection agency and we may also report the incident to a consumer reporting agency database. This may negatively impact your ability to write checks or to receive loans or advances from other companies. GOVERNING LAW: The laws of the Tribe will govern this Agreement, without regard to the conflict of laws rules of any state or other jurisdiction. You agree to be bound by Tribal law, and in the event of a bona fide dispute between you and us, Tribal law shall exclusively apply to such dispute. SOVEREIGN IMMUNITY: This Loan Agreement and all related documents are being submitted by you to us as an economic arm, instrumentality, and limited liability company of the Tribe. The Tribe is a federally-recognized American Indian Tribe and enjoys governmental sovereign immunity. Because we and the Tribe are entitled to sovereign immunity, you will be limited in what claims, if any, you may be able to assert against the Tribe and us. To encourage resolution of consumer complaints, any complaint may be submitted by you or on your behalf to the Tribe for review as described below. PRESERVATION OF SOVEREIGN IMMUNITY: It is the express intention of the Tribe and us operating as an economic arm of the Tribe, to fully preserve, and not waive either in whole or in part, exclusive jurisdiction, sovereign governmental immunity, and any other rights, titles, privileges, and immunities, to which we and the Tribe are entitled. To protect and preserve the rights of the parties, no person may assume a waiver of sovereign immunity. No waiver is made except by express written declaration of the Tribes Tribal Council specifically authorizing a waiver for the matter in question. No such waiver has been made with respect to either your Loan Agreement or an ACH Authorization. TRIBAL DISPUTE RESOLUTION PROCEDURE PROVISION As an accommodation to consumers, the Tribe has established the following Tribal Dispute Resolution Procedure to receive, review, and consider any and all types of complaints made by or on behalf of our consumers. A consumer who, in the course of his or her otherwise lawful and proper use of our business, has concerns about the operation of any part of usor who otherwise believes himself or herself to be aggrieved by some aspect of any part of our operation shall direct his or her concerns in the first instance to our management, in writing at Support@westrivercash.com or by fax at 888-983-4100. A persons complaint to usshall be considered similar in nature to a petition for redress submitted to a sovereign government, without waiver of sovereign immunity and exclusive jurisdiction, and does not create any binding procedural or substantive rights. In the event that the consumer is dissatisfied with our initial determination, then he or she may request review of our initial determination by submitting such request in writing to the Ft. Belknap Indian Community Tribal Council, re: Tribal Financial Services Dispute Resolution, PO Box# 30 Hays, MT 59527, no later than 10 days after receiving our initial determination. Any determination by or on behalf of the Tribe, whether procedural or substantive, shall be made by the Tribe in its sovereign discretion. THIS DISPUTE RESOLUTION OPPORTUNITY WITH THE TRIBAL COUNCIL IS INTENDED AS THE SOLE DISPUTE RESOLUTION MECHANISM FOR DISPUTES AND CLAIMS ARISING UNDER THIS AGREEMENT. THIS MEANS THAT YOU ARE EFFECTIVELY WAIVING YOUR RIGHT TO A JURY TRIAL. The words "dispute" and "disputes" are given the broadest possible meaning and include, without limitation (a) all claims, disputes, or controversies arising from or relating directly or indirectly to the signing of this Tribal Dispute Resolution Provision, the validity and scope of this Provision and any claim or attempt to set aside this Provision; (b) all U.S. federal or state law claims, disputes or controversies, arising from or relating directly or indirectly to the Loan Agreement, the information you gave us before entering into the Loan Agreement, including the customer information application, and/or any past Loan Agreement or Agreements between you and us; (c) all counterclaims, cross-claims and third-party claims; (d) all common law claims, based upon contract, tort, fraud, or other intentional torts; (e) all claims based upon a violation of any state or federal constitution, statute or regulation; (f) all claims asserted by us against you, including claims for money damages to collect any sum we claim you owe us; (g) all claims asserted by you individually against us and/or any of our employees, agents, directors, officers, governors, managers, members, parent company or affiliated entities (collectively, "related third parties"), including claims for money damages and/or equitable or injunctive relief; (h) all claims asserted on your behalf by another person; (i) all claims asserted by you as a private attorney general, as a representative and member of a class of persons, or in any other representative capacity, against us and/or related third parties ("Representative Claims"); and/or (j) all claims arising from or relating directly or indirectly to the disclosure by us or related third parties of any non-public personal information about you. All disputes including any Representative Claims against us and/or related third parties shall be resolved by the Tribal Dispute Resolution Procedure in this Provision only on an individual basis with you. Any party to a dispute, including related third parties, may send the other party written notice by certified mail return receipt requested of their dispute and setting forth the subject of the dispute along with the relief requested This Provision is binding upon and benefits you, your respective heirs, successors and assigns. This Provision is binding upon and benefits us, our successors and assigns, and related third parties. This Provision continues in full force and effect, even if your obligations have been paid or discharged through bankruptcy. This Provision survives any cancellation, termination, amendment, expiration or performance of any transaction between you and us and continues in full force and effect unless you and we otherwise agree in writing. THIS TRIBAL DISPUTE RESOLUTION PROCEDURE PROVISION MEANS THAT: YOUR RIGHT TO FILE SUIT AGAINST US FOR ANY CLAIM OR DISPUTE REGARDING THIS AGREEMENT IS LIMITED BY THE THIS PROVISION AND SOVEREIGN IMMUNITY. YOU ARE GIVING UP YOUR RIGHT TO HAVE A TRIAL BY JURY TO RESOLVE ANY DISPUTE ALLEGED AGAINST US OR RELATED THIRD PARTIES. YOU ARE GIVING UP YOUR RIGHT TO HAVE A COURT RESOLVE ANY DISPUTE ALLEGED AGAINST US OR RELATED THIRD PARTIES; AND YOU ARE GIVING UP YOUR RIGHT TO SERVE AS A REPRESENTATIVE, AS A PRIVATE ATTORNEY GENERAL, OR IN ANY OTHER REPRESENTATIVE CAPACITY, AND/OR TO PARTICIPATE AS A MEMBER OF A CLASS OF CLAIMANTS, IN ANY LAWSUIT OR ARBITRATION FILED AGAINST US AND/OR RELATED THIRD PARTIES. CONSENT TO ELECTRONIC COMMUNICATIONS The following terms and conditions govern electronic communications in connection with the Loan Agreement and the transaction evidenced hereby (the Consent). By electronically signing the Loan Agreement by clicking the I AGREE button and entering your name below, you are confirming that you have agreed to the terms and conditions of the Consent and that you have the ability to download or print a copy of this Consent for your records. You agree that: Any disclosure, notice, record or other type of information that is provided to you in connection with your transaction with us, including but not limited to, the Loan Agreement, the Truth in Lending disclosures in the Loan Agreement, this Consent, change-in-term notices, fee and transaction information, statements, delayed disbursement letters, notices of adverse action, state mandated brochures and disclosures, and transaction information (collectively, Communications), may be sent to you electronically by sending it to you by e-mail or by posting the information at our web site, www.westrivercash.com. We will not be obligated to provide any Communication to you in paper form unless you specifically request us to do so. You may obtain a copy of any Communication by contacting us at www.westrivercash.com, writing to us at Support@westrivercash.com, or by calling us at 888-890-7700. You also can withdraw your consent to ongoing electronic communications in the same manner, and ask that they be sent to you in paper or non-electronic form. If you choose to receive Communications in paper or non-electronic form, we may elect to terminate the Loan Agreement and demand payment of the amount then due by the date of your withdrawal of consent; or by the expiration of any minimum term mandated by law, whichever is later. You agree to provide us with your current e-mail address for notices at the address or phone number indicated above. If your e-mail address changes, you must send us a notice of the new address by writing to us or sending us an e-mail, using secure messaging, at least five (5) days before the change. In order to receive electronic communications in connection with this transaction, you will need a working connection to the Internet. Your browser must support the Secure Sockets Layer (SSL) protocol. SSL provides a secure channel to send and receive data over the Internet. Microsoft Internet Explorer 6 or equivalent browser and above supports this feature. You will also need either a printer connected to your computer to print disclosures/notices or sufficient hard drive space available to save the information (e.g., 1 megabyte or more). You must have your own Internet service provider. We may amend (add to, delete or change) the terms of this consent to electronic communication by providing you with advance notice.
CONSENT TO RECEIVE OF TEXT MESSAGES As used in this Disclosure, "SMS Statement Notifications" means any SMS (text message) communications from us to you pertaining to your loan, including but not limited to payment information, account information, due dates, delinquent accounts, program updates, promotions, coupons and other marketing messages. All SMS Statement Notifications in electronic format from us to you will be considered "in writing." How To Unsubscribe: You may withdraw your consent to receive SMS Statement Notifications by calling us at 888-890-7700 or emailing us at Support@westrivercash.com. At our option, we may treat your provision of an invalid mobile phone number, or the subsequent malfunction of a previously valid mobile phone number, as a withdrawal of your consent to receive SMS Statement Notifications. We will not impose any fee to process the withdrawal of your consent to receive SMS Statement Notifications. Any withdrawal of your consent to use SMS Statement Notifications will be effective only after we have a reasonable period of time to process your withdrawal. In order to access, view, and retain SMS Statement Notifications that we make available to you, you must have: (1) a SMS-capable mobile phone, (2) an active mobile phone account with a communication service provider; and (3) sufficient storage capacity on your mobile phone. To request additional information, contact us by telephone at 888-890-7700. The services are available from most of the carriers that offer text messaging. Consult your mobile service carrier to confirm that they offer text messaging. There is no service fee for SMS Statement Notifications but you are responsible for any and all charges imposed by your communications service provider, including but not limited to fees associated with text messaging. Consult your mobile service carrier's pricing plan to determine the charges for sending and receiving text messages. These charges will appear on your phone bill. Message frequency depends on account settings. You agree that we may send any SMS Statement Notifications through your communication service provider in order to deliver them to you and that your communication services provider is acting as your agent in this capacity. You agree to indemnify, defend and hold us harmless from and against any and all claims, losses, liability, cost and expenses (including reasonable attorneys' fees) arising from your provision of a mobile phone number that is not your own or your violation of applicable federal, state or local law, regulation or ordinance. Your obligation under this paragraph shall survive termination of this Agreement. SMS Statement Notifications are provided for your convenience only. Receipt of each SMS Statement may be delayed or impacted by factor(s) pertaining to your communications service provider(s). We will not be liable for losses or damages arising from any disclosure of account information to third parties, non-delivery, delayed delivery, misdirected delivery or mishandling of, or inaccurate content in, the SMS Statement Notifications sent by us. We may modify or terminate our text messaging services from time to time, for any reason, and without notice, including the right to terminate text messaging with or without notice, without liability to you, any other user or third party. SIGNATURE AND ACCEPTANCE OF ALL TERMS AND CONDITIONS BY ENTERING YOUR NAME AND TODAYS DATE AND CLICKING THE Submit BUTTON BELOW, YOU ARE ELECTRONICALLY SIGNING THE LOAN AGREEMENT AND AGREEING TO ALL THE TERMS OF THE LOAN AGREEMENT INCLUDING:THE TRIBAL DISPUTE RESOLUTION PROCEDURES PROVISIONTHE CONSENT TO ELECTRONIC COMMUNICATIONSTHE CONSENT TO RECEIVE TEXT MESSAGESYOU ALSO ACKNOWLEDGE YOUR ABILITY TO DOWNLOAD OR PRINT A FULLY COMPLETED COPY OF THIS LOAN AGREEMENT FOR YOUR RECORDS. [I AGREE] Printed Name:
Please type your name above
ACH AUTHORIZATIONfor West River Finance, LLC Loan #: 000002155-00REVIEW VERY CAREFULLY BEFORE EXECUTING THE LOAN AGREEMENT If your application is approved, you have authorized us in the Loan Agreement to effect a credit entry by depositing the proceeds of your loan into the following account (Your Bank Account). YOUR BANK ACCOUNT INFO:Bank Name:PNC BANKTransit ABA Number:043300738Checking Account Number:6007705801 ACH AUTHORIZATION: If electronically signed this ACH Authorization below, you voluntarily authorize us, and our successors and assigns, to initiate an automatic credit and debit entry to Your Bank Account as described below: Name:Denise BowersoxAddress:3105 Rose Ave City, State Zip:Erie, PA 16510Phone:(814)218-1110 This ACH Authorization is a part of and relates to the Loan Agreement dated 7/15/2012 (the Loan Agreement). The words "you" and "your" mean the borrower who has electronically signed this ACH Authorization. The words "we", "us" and "our" mean West River Finance, LLC. You voluntarily authorize us, and our successors and assigns, to initiate automatic credit and debit entries to Your Bank Account as provided in the Loan Agreement. You agree that we will initiate a credit entry to Your Bank Account for the Amount Financed on or about the Disbursement Date. You authorize us to initiate debit entries to your account for your scheduled payments as detailed in the Loan Agreement or, if you are in default, all principal, finance charges and other amounts due to us as provided in the Loan Agreement. You authorize us to re-initiate debit entries for the same amounts if any attempted debit entry is dishonored. You also agree that we are authorized to initiate debit entries for any late charges or dishonored instrument charges provided for in the Loan Agreement. The ACH Authorizations set forth in the Loan Agreement are to remain in full force and effect for this transaction until your indebtedness to us for the Total of Payments, plus all finance charges and other charges incurred and described in the Loan Agreement, are fully satisfied. You may only revoke the above authorizations by contacting us directly. If you revoke your authorization, you agree to provide us with another form of payment acceptable to us and you authorize us to prepare and submit checks drawn on Your Bank Account so long as amounts are owed to us under the Loan Agreement. You understand and agree that this ACH Authorization is provided for your convenience, and that you have authorized repayment of your loan by ACH debits voluntarily. You agree that you may repay your indebtedness through other means, including by providing timely payment by cashiers check or money order directed to: _____________________Attn: Customer ServicePO Box# 30Hays, MT 59527 You authorize us to verify all of the information that you have provided, including past and/or current information. If there is any missing or erroneous information in or with your loan application regarding your bank, bank routing and transit number, or account number, then you authorize us to verify and correct such information. SIGNATURE AND ACCEPTANCE BY ENTERING YOUR NAME AND TODAYS DATE AND CLICKING THE Submit BUTTON BELOW, YOU ARE ELECTRONICALLY SIGNING THE ACH AUTHORIZATION. YOU ALSO ACKNOWLEDGE YOUR ABILITY TO DOWNLOAD OR PRINT A FULLY COMPLETED COPY OF THIS LOAN AGREEMENT FOR YOUR RECORDS. [I AGREE] Printed Name:
Please type your name above
COVERED BORROWER IDENTIFICATION STATEMENT United States state laws do not apply to this Agreement. The law of the Fort Belknap Tribe precludes certain types of loans to active duty military and their family. Accordingly, you agree as follows: * I AGREE THAT I AM NOT a member of the military or a dependent of a Military member. Specifically, I AM not, or I AM not the dependent of, a regular or reserve member of the Army, Navy, Marine Corps, Air Force, or Coast Guard, serving on active duty under a call or order that does not specify a period of 30 days or fewer, or serving on Active National Guard and or Reserve duty. (Dependents include the member's spouse, child under the age of eighteen years old or an individual for whom the member provided more than one-half of their financial support for 180 days preceding today's date.)