Mobiloans Line of Credit Account Terms and Conditions Effective July 26, 2016
MOBILOANS, LLC IS AN ENTITY OWNED AND OPERATED BY THE TUNICA-BILOXI TRIBE OF LOUISIANA. THE CREDIT ISSUED TO YOU AND INFORMATION PROVIDED UNDER THIS AGREEMENT BY MOBILOANS IS DONE SO SOLELY UNDER THE PROVISIONS OF LAWS OF THE TUNICA-BILOXI TRIBE OF LOUISIANA AND CERTAIN FEDERAL LAWS AS SPECIFIED IN SECTION XIX BELOW.
This Mobiloans Line of Credit Account Terms and Conditions (these “Terms and Conditions” or this “Agreement”) govern your Mobiloans Credit Account. In this Agreement, “you” and “your” refer to those persons who have applied for and been approved for Mobiloans Credit. “We”, “us” and “our” refer to MobiLoans, LLC, a tribal lending entity wholly owned by the Tunica-Biloxi Tribe of Louisiana, a sovereign nation located within the United States of America that is operating within the Tunica-Biloxi Reservation. “Tribe” or “Tribal” refers to the Tunica-Biloxi Tribe of Louisiana. Each advance made by us hereunder is being made from the Tunica-Biloxi Reservation.
These Terms and Conditions contain an arbitration provision. Unless you act promptly to reject the arbitration provision, it will have a substantial effect on your rights in the event of a dispute.
You should review these Terms and Conditions to fully understand how Mobiloans Credit works. If you have questions, you may contact Customer Support at 877-836-1518. You should retain a copy of these Terms and Conditions for your records.
HIGH COST CREDIT DISCLOSURE: MOBILOANS CREDIT IS AN EXPENSIVE FORM OF CREDIT. MOBILOANS CREDIT IS DESIGNED TO HELP CUSTOMERS MEET THEIR SHORT-TERM BORROWING NEEDS. THIS SERVICE IS NOT INTENDED TO PROVIDE A SOLUTION FOR LONGER-TERM CREDIT OR OTHER FINANCIAL NEEDS. ALTERNATIVE FORMS OF CREDIT MAY BE LESS EXPENSIVE AND MORE SUITABLE FOR YOUR FINANCIAL NEEDS.
Each Billing Cycle you will be charged a Fixed Finance Charge of:
$3.00 for each $20.00 of Mobiloans Cash advanced, for draws of up to $500 (15% of the amount advanced)
$2.00 for each $20.00 of Mobiloans Cash advanced, for draws over $500 (10% of the amount advanced)
How we will calculate your balance: To calculate the total balance of your Account,
at the beginning of each Billing Cycle we subtract all payments and credits made to
your Account. Then we will add to your existing unpaid balance the applicable
Fixed Finance Charge, the amount of any Mobiloans Cash draws made since your last
Periodic Statement, and any applicable Cash Advance Fees for draws of
Mobiloans Cash advanced during that Billing Cycle. Fixed Finance Charges are imposed
based on the outstanding principal balance of Mobiloans Cash as of the end of the
applicable Billing Cycle, excluding the amount of new Mobiloans Cash advances made
during the Billing Cycle.
Billing Rights: Information on your rights to dispute transactions and how to exercise those rights is provided in these Terms and Conditions.
See Section VI for further details on costs and charges and Section XIV for further details on billing rights.
“Account” and “Mobiloans Credit Account” mean your Mobiloans Credit relationship established under this Agreement. Your Mobiloans Credit Account is an open-end line of credit pursuant to which you may borrow, repay and re-borrow amounts from time to time, up to your Credit Limit, subject to your continuing eligibility and these Terms and Conditions.
“Mobiloans Credit Application”
means each initial and supplemental credit application you submitted to
Lender in connection with establishing your Mobiloans Credit Account with Lender.
“AutoPay” means the automatic payment of the Minimum Payment Amount from your designated Demand Deposit Account.
“Billing Cycle” means the interval between the days or dates of regular periodic statements. All Pay Frequencies have at least two Billing Cycles per month. Bi-weekly and weekly paid customers will have up to 26 Billing Cycles per year.
“Business Day” means any day a bank in Louisiana is open for business not including weekends or bank holidays.
“Cash Advance Fee” means the nonrefundable fee charged for each draw on your Mobiloans Credit Account, regardless of the time the Mobiloans Cash you receive from that draw is outstanding.
“Credit Limit” means the maximum amount you can borrow under your Mobiloans Credit Account. Your available credit is based on the outstanding principal balance of Mobiloans Cash and is not reduced by accrued Cash Advance Fees or Fixed Finance Charges.
“Demand Deposit Account” means a bank checking account you have identified for distribution of Mobiloans Cash and/or collection of payments due pursuant to the terms of this Agreement.
“Due Date” means the date reflected on your periodic statement on which your payment is due. All Pay Frequencies have at least two Billing Cycles per month, and therefore at least two Due Dates per month. Bi-weekly and weekly paid customers will have up to 26 Billing Cycles per year, and therefore up to 26 Due Dates per year.
“Fixed Finance Charge” means a minimum charge, calculated on a tiered level, based upon the unpaid principal balance in your Mobiloans Credit Account and charged to your Account each Billing Cycle that you have an unpaid balance.
“Lender” means MobiLoans, LLC, a Tribal entity wholly owned and operated by the Tunica-Biloxi Tribe of Louisiana possessing the inherent characteristics and immunities of the Tribal government.
“Minimum Payment Amount” means the minimum payment you agree to make each Billing Cycle, consisting of the Minimum Principal Amount and Cash Advance Fees and Fixed Finance Charges.
“Minimum Principal Amount” means that portion of your Minimum Payment Amount that is applied to the outstanding principal balance of your Mobiloans Credit Account. The formula for calculating the Minimum Principal Amount is set forth in Section VII below.
“Mobiloans Cash” means the amount of cash you receive from a draw under your Mobiloans Credit Account.
“Mobiloans Credit” means the line of credit governed by this Agreement that allows eligible customers to receive short-term cash draws under this Agreement.
“Pay Date” means the date that you submitted in your initial or updated Mobiloans Credit Application as the date on which you are paid wages or receive other sources of income or benefits.
“Pay Frequency” means the frequency you receive your income payments which are either, weekly, bi-weekly, semi-monthly, or monthly. If your Pay Frequency is weekly, your Pay Dates are considered to be bi-weekly for determining your Billing Cycle under this Agreement. If your Pay Frequency is monthly, your Pay Dates are considered to be semi-monthly for determining your Billing Cycle under this Agreement. All Pay Frequencies have at least two Billing Cycles per month and are required to remit at least two Minimum Payment Amounts per month.
“Periodic Statement” means the written statement issued for each Billing Cycle that describes, among other things, Mobiloans Cash transactions, accrued Cash Advance Fees and Finance Charges, payments made, other credits, balances that are past due, your previous balance, your new balance and your payment Due Date for that Billing Cycle.
“Tribal Law” means any law or regulation duly enacted by the Tunica-Biloxi Tribe of Louisiana, a sovereign nation located within the United States of America.
II. Eligibility for Mobiloans Credit
You may be eligible for Mobiloans Credit if you meet certain eligibility criteria established by us, which may change from time to time at our sole discretion. As of the date of this Agreement, the eligibility criteria are as follows:
- You have a regular source of income or benefits deposited to a qualified Demand Deposit Account;
- You are at least 18 years old (or at least 19 years old if you are a resident of Alabama or Nebraska);
- You meet credit underwriting standards established by the Lender;
- You have identified a qualified Demand Deposit Account on the Application;
- You authorize the Lender to initiate automated transfers from your qualified Demand Deposit Account(s) to repay amounts owed under this Agreement or you enroll for payments by mail, as described below;
- Your qualified Demand Deposit Account(s) are not frozen or subject to legal process (such as a garnishment order); and
- You are not in default of this Agreement.
III. Establishing your Mobiloans Credit Account
Upon approval and verification by Lender of the information you submitted on your Application, your Mobiloans Credit Account will be established. Your Mobiloans Credit Account will be terminated if you do not request Mobiloans Cash for a period of 12 consecutive months. By applying for and using your Mobiloans Credit, you acknowledge that you have received a copy of this Agreement and that you understand and accept its terms and conditions. Access to Mobiloans Cash is subject to the eligibility criteria provided in this Agreement and your compliance with the terms of this Agreement.
You can obtain your current Credit Limit by:
(a) logging in to your Mobiloans Credit Account online at
calling Customer Support at 877-836-1518; or (c) writing Mobiloans Customer Support
at MobiLoans, LLC, P.O. Box 1409, Marksville, LA 71351.
IV. Accessing your Account and Receiving Mobiloans Cash
Your Mobiloans Credit Account is an open-end line of credit pursuant
to which you may borrow, repay and re-borrow amounts from time to time,
up to your Credit Limit, subject to your continuing eligibility and these
Terms and Conditions. Requests for Mobiloans Cash are made in increments of $20.00.
You may request Mobiloans Cash online at https://www.mobiloans.com.
Aggregate Mobiloans Cash requests may not exceed your Credit Limit,
and individual draws are limited to the availability under your Account.
Proceeds deposited to a qualified Demand Deposit Account may be effectuated
via ACH or mailed by check. If your request was to receive cash via ACH and was received before 4:00 p.m. Central Time on
a Business Day, your requested Mobiloans Cash may be available on the
next day your financial institution holding your Demand Deposit Account
is open for business. Whether you receive your Mobiloans Cash by check or ACH, always check with your
financial institution to accurately determine when the money will be available for use.
You may cancel a request for Mobiloans Cash at no cost to you by calling Customer
Support at 877-836-1518 prior to 4:00 p.m. Central Time on the same day you made
the request and, if you already received your Mobiloans Cash, you return the
received Mobiloans Cash immediately as instructed by Customer Support.
In the event that your draw of Mobiloans Cash will be funded by check
and you desire to cancel your request, (a) if we have not mailed the
check representing the Mobiloans Cash to you or (b) if you have not
cashed the check representing the Mobiloans Cash, then we will cancel the check
and your obligations with respect to that draw of Mobiloans Cash will be canceled.
Draw Restrictions: As noted above, aggregate Mobiloans Cash requests may not exceed
your Credit Limit, and individual draws are limited to the availability under
your Account. Additional draws may be restricted if you have not made one or
more required Minimum Periodic Payments in full and on time, if we have reduced
your Credit Limit as described in Section V or if your Account is not otherwise
in good standing. If the outstanding principal amount of Mobiloans Cash at any time
exceeds your Credit Limit for any reason, any such additional amounts will be subject
to all provisions of this Agreement. Furthermore, any such excess amount outstanding
will not increase your Credit Limit. In addition, if you have had an outstanding
principal balance of Mobiloans Cash on your Account for at least 12 consecutive
months, then you may not obtain additional Mobiloans Cash until you pay down the
balance of your Mobiloans Credit Account to $0. Once you have brought your Account
balance to $0, your ability to draw Mobiloans Cash will be reinstated.
See Section VIII below for further information on this paydown requirement
and the reinstatement of your ability to draw Mobiloans Cash.
V. Credit Limit
Your Credit Limit is the maximum
amount that you may borrow under your Mobiloans Credit Account.
Your Credit Limit is assigned by the Lender and is between $20
and $1,500. This Credit Limit is subject to change with
changes in your Demand Deposit Account status and/or underwriting
eligibility. Your available credit is based on the outstanding
principal balance of Mobiloans Cash and is not reduced by
accrued Cash Advance Fees or Fixed Finance Charges.
We reserve the right, at any time, and upon notice when
required by Tribal Law or applicable federal law, to
adjust your Credit Limit, including reducing it to $0,
based on your use of Mobiloans Credit, your payment history with us,
your moving to a state we do not service or we discontinue service
in your state, and other factors, at the Lender’s sole discretion.
We also reserve the right to review your credit status at any time,
including after obtaining credit reports and other credit information
we believe to be relevant. Our review of such information may also
result in our modifying your Credit Limit, including reducing
your Credit Limit to $0, or closing your Account.
VI. Costs and Charges
Cash Advance Fee
We charge a Cash Advance Fee for each draw on your Mobiloans Credit Account, regardless of the period of time for which the Mobiloans Cash you receive from that draw is outstanding. The Cash Advance Fee is a FINANCE CHARGE. The Cash Advance Fee is assessed each time a draw is requested, and there is no grace period within which you may repay an advance and avoid payment of the related Cash Advance Fee. The amount of the Cash Advance Fee that will be assessed on a draw of Mobiloans Cash is as follows:
Cash Advance Fee
$3.00 for each $20.00 of Mobiloans Cash advanced, for draws of up to $500 (15% of the amount advanced)
$2.00 for each $20.00 of Mobiloans Cash advanced, for draws over $500 (10% of the amount advanced)
Fixed Finance Charge
A Fixed Finance Charge will be assessed at the beginning of each
Billing Cycle based on the unpaid principal balance of Mobiloans
Cash at the end of the prior Billing Cycle, excluding the amount
of any new Mobiloans Cash advanced during that Billing Cycle,
in accordance with the table below. The Fixed Finance Charge
is a FINANCE CHARGE. If you pay the entire balance of a Mobiloans
Cash draw in full by the applicable Due Date specified in the
Periodic Statement for the Billing Cycle in which such draw was made,
you will not be charged a Fixed Finance Charge on the amount of such
Mobiloans Cash advance.
Each Billing Cycle you will be charged a Fixed Finance Charge, as follows:
How we will calculate your balance:
To calculate the total balance of your Account, at the beginning
of each Billing Cycle we subtract all payments and credits made
to your Account. Then we will add to your existing unpaid balance
the applicable Fixed Finance Charge, the amount of any Mobiloans
Cash draws made since your last Periodic Statement, and any
applicable Cash Advance Fees for draws of Mobiloans Cash
advanced during that Billing Cycle. Fixed Finance Charges are
imposed based on the outstanding principal balance of Mobiloans
Cash as of the end of the applicable Billing Cycle, excluding
the amount of new Mobiloans Cash advances made during the Billing Cycle.
Billing Rights: Information on
your rights to dispute transactions and how to exercise
those rights is provided in these Terms and Conditions.
See Section XIV for further details on billing disputes.
VII. Your Promise to Pay
You promise to pay the total of all outstanding Mobiloans Cash
along with all accrued Cash Advance Fees and Fixed Finance
Charges as described in this Agreement. To the extent
permitted by Tribal Law or applicable federal law, you also
promise to pay all costs and fees, including reasonable
attorneys’ fees, which we incur in collection or enforcement
of the Agreement.
You agree to make the Minimum Payment Amount shown on each
Periodic Statement on or before the applicable Due Date for
such payment. The Minimum Payment Amount consists of the
Minimum Principal Payment and accrued Cash Advance Fees and
Fixed Finance Charges as described in this Agreement. Payments
are credited to your Account effective as of the day they are received.
You may experience a delay between the date of your payment
and the time you are able to take additional Mobiloans Cash
while we verify that sufficient funds are available and/or
we receive credit for any payments drawn on another depository
institution. This action will not result in more cost to you,
but it may delay the availability and/or amount of your future Mobiloans Cash.
If you fail to pay the Minimum Payment Amount on or before the applicable Due Date,
an AutoPay payment will automatically be deducted by us from your
Demand Deposit Account (see Section VIII below) if you have authorized the AutoPay feature.
To minimize the amount of Finance Charges you may incur,
you are encouraged to pay your Mobiloans Cash balances
in full on or before the applicable Due Date. You also
may make payments toward your unpaid balance at any
time without penalty.
Your payment options are discussed more fully in
Section VIII below.
Calculation of Minimum Principal Amount
If the Mobiloans Cash balance is up to and including $400,
the Minimum Principal Amount you are required to pay is
$20, and if the Mobiloans Cash balance exceeds $400,
the Minimum Principal Amount you are required to pay is
equal to 5% of the outstanding Mobiloans Cash balance.
VIII. Payment Options
Payments in Full and Partial
Payments: You may pay your outstanding balance in full
at any time. We also accept partial payments as further
described in this Section VIII.
AutoPay: AutoPay is the automatic payment of the Minimum
Payment Amount specified in the applicable Periodic
Statement. If you elect to make AutoPay payments
via ACH debit, we process an ACH payment from your
Demand Deposit Account for the amount of each AutoPay
payment so that such payment is received on the applicable
Due Date. You do not need to agree to AutoPay as a condition
to opening or using your Mobiloans Credit Account.
If you have enrolled in the AutoPay feature, the payment
of the Minimum Payment Amount will be made from your
Demand Deposit Account unless you have otherwise paid
the Minimum Payment Amount by other means by 4:00 p.m.
Central Time on the Business Day prior to the applicable
Due Date. If you are an AutoPay customer and you remit a
payment, whether by mail or electronically, that is
received and processed before the AutoPay processing
date and that results in the payment in full of the
Minimum Payment Amount set forth in the applicable
Periodic Statement, then we will not process an AutoPay
payment for that Periodic Statement. See Section XXI
for more details.
Borrower-Scheduled Electronic Payments: You may schedule
an electronic payment at any time up to the full amount
of the outstanding balance of your Mobiloans Credit Account
prior to the applicable Due Date. You may schedule these
payments online at https://www.mobiloans.com, by calling
Customer Support at 877-836-1518 or by mail. In order
for an electronic payment to be received on your payment
Due Date, we must receive your scheduled payment request
by 4:00 p.m. Central Time on the Business Day prior to
the applicable Due Date. Depending on the amount and
timing of the early or partial payment, such payments
may not reduce the Cash Advance Fees or Fixed Finance
Charges that may accrue. See Section VI and Section VII above.
Borrower-Scheduled Debit Payments: Mobiloans may work with a third-party to enable you
to schedule a payment using a debit card to pay up to the full amount of the outstanding balance (or any portion thereof)
of your Mobiloans Credit Account at any time up to 4:00 p.m.
Central Time on the Business Day prior to the applicable
Due Date. If applicable, you may schedule these payments online at
https://www.mobiloans.com or by calling Customer Support
at 877-836-1518. Once you provide Mobiloans with your debit
card number, it will be securely stored with your Mobiloans
Credit Account. If you provide a debit card number to Mobiloans,
such debit card will not be used for any payment unless
you schedule a payment or unless Mobiloans is unable to
process your payment by your Due Date using the AutoPay
feature. Please note that Mobiloans relies on third parties to provide this service
and therefore reserves the right to terminate or suspend this service at any time.
If you elect to pay your Mobiloans Credit Account
via AutoPay or by mail, you can make an additional payment
at any time using your debit card; however, providing a
debit card to your Mobiloans Credit Account will not remove
you from AutoPay or otherwise change your payment obligations.
In order for a debit card payment to be received on your payment
Due Date, we must receive your scheduled payment request by 4:00 p.m.
Central Time on the Business Day prior to the applicable Due Date.
Depending on the amount and timing of the early or partial payment,
such payments may not reduce the Cash Advance Fees or Fixed Finance
Charges that may accrue.
Payments by Mail: Extension of Mobiloans Credit is not
conditioned on your repayment by electronic means of the
amounts you owe. You may make payments by mail,
using personal check, certified check or money order payable
to “MobiLoans, LLC”, and any such payment must be received
at our payment address, P.O. Box 42917, Philadelphia, PA 19101, by 5:00 p.m. Eastern Time on the applicable payment
Due Date. To send your check via overnight mail or courier
service, please send to MobiLoans, LLC c/o MetaSource,
1900 Frost Road, Suite 100, Bristol, Pennsylvania 19007
in time for Mobiloans to receive your payment prior to
5:00 p.m. Eastern Time on your Due Date. If you are an
AutoPay customer and you remit a payment by mail, your AutoPay
payment for the current Billing Cycle will still process unless
your mailed payment is received and processed by 4:00 p.m.
Central Time on the Business Day prior to the applicable
Due Date and results in the payment in full of the Minimum
Payment Amount set forth in the applicable Periodic Statement.
If you remit payment by mail and such payment is received
on a non-Business Day, your payment will be posted to your
account on the day it is received.
Check Conversion Notification: When you provide a personal check
as payment, you agree we can either use information from your
check to make a one-time electronic withdrawal from your
Bank Account or to process the payment as a check transaction.
When we use information from your personal check to make a
withdrawal from your Bank Account, funds may be withdrawn
from your Bank Account as soon as the same day we receive
your payment and you will not receive your check back from
your financial institution. For questions, please call
Customer Support at 877-836-1518.
Required Paydown to $0 after 12 Months with an Outstanding
Principal Balance of Mobiloans Cash: As described in Section
IV, if you have had an outstanding principal balance of
Mobiloans Cash on your Mobiloans Credit Account for at
least 12 consecutive months, then your ability to initiate
additional draws of Mobiloans Cash will be restricted until
such time as you pay down the balance of your Mobiloans
Credit Account to $0. Repayment of your outstanding balance
to $0 can be made by paying the Minimum Payment Amount over
a maximum of 20 Billing Cycles. You can pay off the outstanding
balance in full or over a shorter time frame by scheduling
additional electronic payments, sending additional payments
by mail, paying more than the Minimum Payment Amount or just
remitting a payment in full. Once you have paid in full the
outstanding balance of your Account, your ability to make
draws of Mobiloans Cash up to your Credit Limit will be
reinstated. Depending on the method by which you make the final payment
that brings your Account balance to $0, it may take one to three
Business Days to process the payment and reinstate your ability to
make draws of Mobiloans Cash.
Payment Extensions: A borrower may extend or “push” a payment to a
later date as is described herein. The maximum payment date that a payment may be extended will be the next scheduled payment date.
If you choose to extend the payment to the maximum payment date, you will have two payments processed. You may not extend two payments in a row.
A payment that has been extended cannot be delayed a second time if the maximum number of days allowed was granted the first time.
Your ability to utilize this payment extension option is
limited to a maximum of 99 times throughout the life of your account.
IX. Application of Payments
All payments received (whether electronically or
otherwise) will be applied first to any accrued and unpaid Cash Advance
Fees and Fixed Finance Charges, and then to the outstanding principal
balance of your Mobiloans Credit Account.
X. Balance Computation Method
We calculate your balance as shown under
“How we will calculate your balance” above.
XI. Servicing Your Account
In connection with the servicing of your
Mobiloans Credit Account, you hereby authorize us to contact
you, including through the use of an autodialer, text messaging
(if you have opted-in to text messaging in your Application),
or prerecorded message, at any phone number you have
provided to us in your Application or otherwise,
including mobile phone numbers, and at any address
and email address we have for you in our records or
from other public and nonpublic databases we may
lawfully access. Where allowed by law, we also may
contact other individuals who may be able to provide
updated employment, location, and contact information
Events of Default: We may declare
you to be in default of this Agreement at any time if: (a)
you fail to comply with the terms of this Agreement,
including your repayment obligations with respect to
borrowings under your Mobiloans Credit Account; (b)
we discover that any information you have provided to
us is false or misleading in any material respect; (c)
you have exceeded the limitations regarding the usage
of your Mobiloans Credit Account as set forth in this
Agreement; or (d) you have not provided us with
information we may request from time to time to satisfy
our obligations to comply with the Bank Secrecy Act
or other statutes or regulations that apply to us.
Consequences of Default:
If an event of default has occurred, we may, at our option,
do any one or more of the following things: (a) require you
to immediately pay us everything you owe us on your Mobiloans
Credit Account, including, without limitation, all outstanding
Mobiloans Cash and accrued Cash Advance Fees and Fixed
Finance Charges; (b) withdraw money from your Demand
Deposit Account that was not available when we tried
to withdraw it at an earlier time, if you have authorized
electronic payments; (c) we may suspend or terminate your
right to access your Mobiloans Credit Account and to receive
draws of Mobiloans Cash; and (d) pursue all legally available
means under Tribal law to collect what you owe us. Except
as expressly prohibited by Tribal law, by agreeing to these
Terms and Conditions you waive notice of default, dishonor,
demand for payment, protest, presentment, and any other notices.
In the event we declare all amounts owed on your Mobiloans
Credit Account immediately due because you did not pay us,
then, if you have authorized electronic payments,
you further authorize us and our agents and representatives
to withdraw money from your Demand Deposit Account in the
full amount due. By choosing to exercise any one or more
of these remedies, we do not give up our right to use
another way to collect the money you owe us later. We
may decide not to use any of the ways described above
to be paid back the money that you owe us. If so, we do not
give up our right to consider what you said you would do
to make payments and, if you fail to make those payment(s),
we will consider you to be in default.
XIII. Periodic Statements
Not less than once each Billing
Cycle during which there is (i) one or more Mobiloans
Cash transactions, (ii) a payment is received, or (iii)
an outstanding balance owing on your Mobiloans
Credit Account, we will make available to you
electronically, or if you specifically request,
by mail, a Periodic Statement reflecting,
among other things, Mobiloans Cash transactions,
accrued Cash Advance Fees and Fixed Finance Charges,
payments made, other credits, balances that are past
due, your previous balance, and your new balance. In
addition, we will provide you from time to time with
any other disclosures or information required by this
Agreement, Tribal law and applicable federal law.
Your Periodic Statements will be generated fourteen
(14) days prior to the applicable Due Date for such
Billing Cycle. A notification will be emailed to the
email account you have on file in your Account, and
your statement will be available electronically at
https://www.mobiloans.com. You may choose not to receive
your statements electronically. If you choose to receive
paper statements, please notify us by writing to Mobiloans
Customer Support at MobiLoans, LLC, P.O. Box 1409,
Marksville, LA 71351.
XIV. Billing Rights
YOUR BILLING RIGHTS - KEEP THIS NOTICE FOR FUTURE USE
This notice contains important information about your rights and our responsibilities under Tribal law and applicable federal law.
What To Do If You Find a Mistake on Your Periodic Statement
If you think there is an error on your Periodic Statement,
write to Mobiloans Customer Support at MobiLoans, LLC, P.O. Box 1409,
Marksville, LA 71351, contact us electronically at
https://www.mobiloans.com, or call us at 877-836-1518.
In your correspondence, give us the following information:
- Account information - your name and Account number;
- Dollar amount - the dollar amount of the suspected error; and
- Description of problem - if you think there is an error on your Periodic Statement, describe what you believe is wrong and why you believe it is a mistake.
You must contact us:
- Within 60 days after the error first appeared on your Periodic Statement; and
- By 4:00 p.m. Central Time at least 2 Business Days before an automated payment is scheduled if you want to stop payment on the amount you think is wrong.
You must notify us of any potential errors in writing or electronically. You may call us, but if you do we are not required to investigate any potential errors and you may have to pay the amount in question.
What Will Happen After We Receive Your Correspondence
When we receive your correspondence, we must do two things:
- Within 30 days of receiving your correspondence, we must tell you that we received your correspondence. We will also tell you if we have already corrected the error.
- Within 90 days of receiving your correspondence, we must either correct the error or explain to you why we believe the Periodic Statement is correct.
While we investigate whether or not there has been an error:
- We cannot try to collect the amount in question, or report you as delinquent on that amount.
- The charge in question may remain on your Periodic Statement, and we may continue to charge Finance Charges on that amount in accordance with this Agreement.
- While you do not have to pay the amount in question, you are responsible for the remainder of the outstanding balance of your Account.
- We can apply any unpaid amount against your Credit Limit.
After we finish our investigation, one of two things will happen:
- If we made a mistake: You will not have to pay the amount in question or any interest or other fees related to that amount.
- If we do not believe there was a mistake: You will have to pay the amount in question, along with applicable Finance Charges on that amount in accordance with this Agreement. We will send you a statement of the amount you owe and the date payment is due. We may then report you as delinquent if you do not pay the amount we think you owe.
If you receive our explanation but still believe your Periodic Statement
is wrong, you must write to us within 10 days telling us that you still
refuse to pay. If you do so, we cannot report you as delinquent without
also reporting that you are questioning your Periodic Statement.
We must tell you the name of anyone to whom we reported you as
delinquent, and we must let those organizations know when the
matter has been settled between us.
If we do not follow all of the rules above, you do not have to
pay the first $50 of the amount you question even if your
Periodic Statement is correct.
XV. Change in Terms
We reserve the right to change the terms of this Agreement
at any time with notice to you as required by Tribal Law
and applicable federal law. Such changes may apply to Mobiloans
Credit and any current amounts of outstanding Mobiloans Cash
as well as to future Mobiloans Cash balances. By continuing
to use the Mobiloans Credit service, you are accepting the
change in terms, or you may decline the change in terms by
no longer using Mobiloans Credit prior to the effective date
of the change or by requesting that access to your Mobiloans
Credit Account be discontinued. If you discontinue access,
you will still be required to repay all amounts that you
owe on your Mobiloans Credit Account pursuant to the
continuing terms of the Agreement.
XVI. Mobiloans Rewards Program
As a MobiLoans, LLC customer, you are automatically enrolled in
the MobiLoans, LLC Rewards Program (“Mobiloans Rewards”).
Mobiloans Rewards terms and conditions may be found at
and are hereby incorporated into these Terms and Conditions as if
fully set out herein.
XVII. Transfer of Rights; Maintenance of Register
We may assign or transfer this Agreement, or any of our rights hereunder,
to another person or entity without notice or consent from you.
Regardless of any transfer, this Agreement shall remain exclusively
subject to the laws and courts of the Tribe. As an integral component
of accepting this Agreement, you irrevocably consent to the jurisdiction
of the Tribal courts for the purposes of this Agreement.
MobiLoans, LLC, (the “Registrar”) acting solely for this
purpose as your irrevocably appointed agent, shall maintain
at an office located within the geographic boundaries of the
United States a copy of each assignment of this Agreement
delivered to it and a register (the “Register”) for the
recordation of the names and addresses of the original owner
and assignees, and the amounts of the principal, interest,
fees, charges and other amounts owing to each from time to
time pursuant to the terms of this Agreement. The Register
may be in electronic form. The entries of the Register shall
be conclusive, and you, the Registrar, the Lender and all of
its assignees shall treat each person whose name is recorded
in the Register pursuant to these terms as the owner of such
principal, interest, fees, charges and other amounts for all
purposes of this Agreement and any rights hereunder,
notwithstanding notice to the contrary. The name of the owner
in the Register shall be available to you by written request
to the Registrar at any reasonable time and from time to time
upon reasonable prior notice. In addition to the foregoing,
the Registrar shall include on the Register the names and
addresses of those persons holding participation interests
in the receivables outstanding from time to time in the
Accounts of which it has notice. Any fees and expenses
of the Registrar for its services shall be charged to
the registered owner of the Account and not to you.
XVIII. Dispute Resolution; Arbitration
Notice of Waiver of Jury Trial and Arbitration Agreement
This Agreement includes a binding
Waiver of Jury Trial and Arbitration Agreement. You may opt out of
the Waiver of Jury Trial and Arbitration Agreement by following
the instructions below.
RIGHT TO OPT OUT. IF YOU DO NOT WISH YOUR ACCOUNT TO BE SUBJECT TO THE FOLLOWING WAIVER OF JURY TRIAL AND ARBITRATION AGREEMENT, YOU MUST ADVISE US IN WRITING AT MOBILOANS, LLC, P.O. BOX 1409, MARKSVILLE, LA 71351 OR VIA EMAIL AT SUPPORT@MOBILOANS.COM. YOU MUST CLEARLY PRINT OR TYPE YOUR NAME AND ACCOUNT NUMBER OR SOCIAL SECURITY NUMBER AND STATE THAT YOU REJECT ARBITRATION. YOU MUST GIVE WRITTEN NOTICE; IT IS NOT SUFFICIENT TO TELEPHONE US. WE MUST RECEIVE YOUR LETTER OR E-MAIL WITHIN SIXTY (60) DAYS AFTER THE DATE YOUR MOBILOANS CREDIT ACCOUNT IS ESTABLISHED OR YOUR REJECTION OF ARBITRATION WILL NOT BE EFFECTIVE. IN THE EVENT YOU OPT OUT OF THE ARBITRATION AGREEMENT, ANY DISPUTES UNDER THIS AGREEMENT OR RELATED TO YOUR MOBILOANS CREDIT ACCOUNT SHALL NONETHELESS BE GOVERNED UNDER THE LAWS OF THE TUNICA-BILOXI TRIBE OF LOUISIANA AND MUST BE BROUGHT WITHIN THE COURT SYSTEM THEREOF, TO WHOSE JURISDICTION YOU IRREVOCABLY CONSENT FOR THE PURPOSES OF THIS AGREEMENT.
WAIVER OF JURY TRIAL AND ARBITRATION AGREEMENT
In this Waiver of Jury Trial and Arbitration Agreement (this “Arbitration Agreement”), “Tribe” or “Tribal” refers to the Tunica-Biloxi Tribe of Louisiana, a sovereign nation located within the United States of America, and “Tribal Law” means any law or regulation duly enacted by the Tunica-Biloxi Tribe of Louisiana.
PLEASE READ THIS WAIVER OF JURY TRIAL AND ARBITRATION AGREEMENT CAREFULLY. Unless you exercise your right to opt-out of arbitration in the manner described above, any dispute you have with Lender, its agents, operator of the website where you submitted your Application, purchaser(s) of any interest in the Agreement or your Account, or anyone else under the Agreement, will be resolved by binding arbitration. Arbitration replaces the right to go to court, including the right to have a jury, to engage in discovery (except as may be provided in the arbitration rules), and to participate in a class action or similar proceeding. In arbitration, a dispute is resolved by an arbitrator instead of a judge or jury. Arbitration procedures are simpler and more limited than court procedures. Any arbitration will be limited to addressing your dispute individually and will not be part of a class-wide or consolidated arbitration proceeding.
Agreement to Arbitrate.
You agree that any Dispute (defined below) will be resolved by arbitration in accordance
with Tribal Law.
Arbitration is a means of having an independent third party
resolve a Dispute. A “Dispute” is any controversy or claim related
in any way to your Mobiloans Credit Account or your application for
a Mobiloans Credit Account, involving you and Lender,
its marketing agent, collection agent, any subsequent
holder of your Mobiloans Credit Account, or any of their respective agents,
affiliates, assigns, employees, officers, managers, members
or shareholders (each considered a “Holder” for purposes of
this Agreement). The term Dispute is to be given its broadest
possible meaning and includes, without limitation, all claims
or demands (whether past, present, or future, including events
that occurred prior to the opening of your Account), based on
any legal or equitable theory (tort, contract, or otherwise),
and regardless of the type of relief sought
(i.e., money, injunctive relief, or declaratory relief).
A Dispute includes, by way of example and without limitation,
any claim arising from, related to or based upon marketing or
solicitations to obtain the Mobiloans Credit Account and the
handling or servicing of your Account whether such Dispute
is based on a Tribal, federal or state constitution, statute,
ordinance, regulation, or common law, and including any issue
concerning the validity, enforceability, or scope of this
Account or the Arbitration Agreement.
You acknowledge and agree that by entering into this Arbitration Agreement:
- YOU ARE GIVING UP YOUR RIGHT TO HAVE A
TRIAL BY JURY TO RESOLVE ANY DISPUTE ALLEGED AGAINST US OR RELATED
- YOU ARE GIVING UP YOUR RIGHT TO HAVE A
COURT RESOLVE ANY DISPUTE ALLEGED AGAINST US OR RELATED THIRD PARTIES;
- 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 FILED AGAINST US AND/OR RELATED
Choice of Arbitrator.
Any party to a Dispute, including a Holder or
its related third parties, may send the other party written notice by
certified mail return receipt requested at the address appearing at
the top of the Agreement of their intent to arbitrate and setting
forth the subject of the dispute along with the relief requested,
even if a lawsuit has been filed. Regardless of who demands arbitration,
you shall have the right to select any of the following arbitration
organizations to administer the arbitration: the American Arbitration
https://www.adr.org; JAMS (1-800-352-5267)
https://www.jamsadr.com; or an arbitration organization agreed upon by
you and the other parties to the Dispute. The chosen arbitrator will
utilize the rules and procedures applicable to consumer disputes of
the chosen arbitration organization, to the extent that those rules
and procedures do not contradict either Tribal Law or the express
terms of this Arbitration Agreement, including the limitations on
the Arbitrator below. The party receiving notice of Arbitration
will respond in writing by certified mail return receipt requested
within twenty (20) days. You understand that if you demand Arbitration,
you must inform us of your demand and of the arbitration organization
you have selected. You also understand that if you fail to notify us,
then we have the right to select the arbitration organization.
Any arbitration under this Agreement may be conducted either on Tribal
land or within thirty miles of your residence, at your choice,
provided that this accommodation for you shall not be construed in
any way (a) as a relinquishment or waiver of the Tribe’s sovereign
status or immunity, or (b) to allow for the application of any law
other than Tribal Law.
Cost of Arbitration.
We will pay the filing fee and any costs or fees charged by the arbitrator regardless of which party initiates the arbitration. Except where otherwise provided by Tribal Law, each party will be responsible for its own attorneys’ fees and other expenses. Unless prohibited by law, the arbitrator may award fees, costs, and reasonable attorneys’ fees to the party who substantially prevails in the arbitration.
Waiver of Jury Trial and Waiver of Ability to Participate in a Class Action.
YOU HEREBY AGREE THAT YOU ARE WAIVING YOUR RIGHT TO A JURY TRIAL,
TO HAVE A COURT DECIDE YOUR DISPUTE, AND YOU ARE WAIVING YOUR ABILITY
TO SERVE AS A REPRESENTATIVE, AS A PRIVATE ATTORNEY GENERAL, TO PARTICIPATE
IN A CLASS ACTION LAWSUIT, OR IN ANY OTHER REPRESENTATIVE CAPACITY FOR
OTHERS IN THE ARBITRATION, AND TO CERTAIN DISCOVERY AND OTHER PROCEDURES
THAT WOULD BE AVAILABLE IN A LAWSUIT. The arbitrator has the ability to
award all remedies available under the laws of the Tunica-Biloxi Tribe
of Louisiana, whether at law or in equity, to the prevailing party, except
that the parties agree that the arbitrator has no authority to conduct
class-wide proceedings and will be restricted to resolving the individual
Disputes between the parties. The validity, effect, and enforceability
of this waiver of class action lawsuit and class-wide arbitration is to
be determined solely by a court of competent jurisdiction of the
Tunica-Biloxi Tribe of Louisiana, and not by the arbitrator.
If the court refuses to enforce the class-wide arbitration waiver,
or if the arbitrator fails or refuses to enforce the waiver of
class-wide arbitration, the parties agree that the Dispute will
proceed in Tribal court and will be decided by a Tribal court judge,
sitting without a jury, under applicable court rules and procedures
and may be enforced by such court through any measures or reciprocity
provisions available. As an integral component of accepting this
Agreement, you irrevocably consent to the jurisdiction of the Tribal
courts for purposes of this Agreement.
The arbitrator will apply the laws of the Tunica-Biloxi Tribe of
Louisiana and the terms of this Agreement, including the Arbitration
Agreement. The arbitrator must apply the terms of this Arbitration
Agreement, including without limitation the waiver of class-wide
arbitration. The arbitrator may decide, with or without a hearing,
any motion that is substantially similar to a motion to dismiss
for failure to state a claim or a motion for summary judgment.
If allowed by statute or applicable law, the arbitrator may award
statutory damages and/or reasonable attorneys’ fees and expenses.
The arbitrator will make written findings and the arbitrator’s
award may be filed with the Tribal court. The arbitration award
will be supported by substantial evidence and must be consistent
with this Agreement and applicable law or may be set aside by the
Tribal court upon judicial review.
This Arbitration Agreement will survive: (i) termination or changes in this Agreement,
the Account, or the relationship between us concerning the Account; (ii) the bankruptcy
of any party; and (iii) any transfer, sale or assignment of my Account, or any amounts
owed on my account, to any other person or entity. This Arbitration Agreement benefits
and is binding upon you, your respective heirs, successors and assigns. It also benefits
and is binding upon us, our successors and assigns, and related third parties.
The Arbitration Agreement continues in full force and effect, even if your
obligations have been paid or discharged through bankruptcy. The Arbitration
Agreement survives any 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. If any of this Arbitration Agreement is held
invalid, the remainder shall remain in effect.
This Arbitration Agreement is governed by the laws of the Tunica-Biloxi
Tribe of Louisiana, the Indian Commerce Clause of the United States
Constitution, the Federal Arbitration Act (“FAA”) and the decisions
of the United States Supreme Court interpreting the FAA. We do not
have a presence in Louisiana or any other State of the United States
of America. Neither this Agreement nor the Lender is subject to the
laws of any State of the United States. Although MobiLoans, LLC is
voluntarily agreeing to the application of the FAA and relevant
judicial interpretations of the FAA to this Arbitration Agreement,
such voluntary application does not represent acquiescence by the
Tribe of the general application of such law or any other federal
law to the Tribe’s operations unless such law is expressly applicable thereto.
XIX. Governing Law
This Agreement is governed by the laws of the Tunica-Biloxi
Tribe of Louisiana and the Indian Commerce Clause of the United States
Constitutions, and the Arbitration Agreement above is additionally
governed by the Federal Arbitration Act (“FAA”) and the decisions
of the United States Supreme Court interpreting the FAA. We do
not have a presence in Louisiana or any other State of the United
States of America. Neither this Agreement nor the Lender is subject
to the laws of any State of the United States. MobiLoans, LLC may
choose to voluntarily use certain federal laws as guidelines for
the provision of services. Such voluntary use does not represent
acquiescence of the Tribe to any federal law unless found expressly
applicable to Tribal operations offering such services.
XX. Electronic Signature and Electronic Records
We are required by law to provide you with initial disclosures,
Periodic Statements and certain other disclosures and notices
By checking the
box on the Application, that action will signify your agreement
that this Agreement and the Disclosures we provide to you constitute
electronic records under the Electronic Signatures in Global and
National Commerce Act (15 U.S.C. Sections 7001 and following)
in a manner consistent with Tribal Law and applicable federal law.
By checking the “Sign Here”
box on your Application, you agree to receive all such disclosures
electronically. To access these Disclosures, in most cases,
we will provide you with such disclosures at our web site or
the web sites of our vendors. By checking the box, you
acknowledge that you are able to electronically access the
Mobiloans website (https://www.mobiloans.com), and to electronically
access and print the periodic statements and other Disclosures we
will be providing to you in connection with your Mobiloans Credit
Account. We will notify you of Disclosures by email and will
provide copies of any Disclosures to you in electronic form by
including them in the email, posting them on the Mobiloans
website or by providing a link to them on the website.
In order to access, view and retain Disclosures in electronic form,
you must have a computer with Internet access. The minimum system
requirements include software that supports 128-bit security
encryption and Adobe Reader® version 9.0.
Your agreement to receive disclosures and notices from us in electronic form does not mean you cannot obtain a paper copy of any such disclosure or notice. If you wish to obtain a paper copy of any document or withdraw your consent to receive Disclosures electronically, contact us in writing at Mobiloans Customer Support, MobiLoans, LLC, P.O. Box 1409, Marksville, LA 71351. You will be charged a $5.00 fee for the provision of each paper copy. The same fee will apply to customers who withdraw their consent to receive electronic disclosures and notices.
By checking the “Sign Here” box for Electronic Delivery of Disclosures on your Application, you acknowledge receipt of the Terms and Conditions governing your Mobiloans Credit Account, that you have read and agreed to these Terms and Conditions, and that you agree to receive Disclosures from us in electronic form.
XXI. Electronic Payment Authorization
Mobiloans gives you the option to receive your Mobiloans Cash electronically and to repay amounts owing on your Mobiloans Credit Account electronically. If you choose to receive your Mobiloans Cash electronically and agree to repay electronically, then the following provisions apply.
Consent to Pre-Authorized Electronic Payments
By choosing to receive your Mobiloans Cash electronically
and agreeing to repay electronically selecting the
“Electronic” option on the Select Cash Amount page,
you agree to this Electronic Payment Authorization
and authorize and request MobiLoans, LLC to initiate ACH debits
to your Demand Deposit Account for your regularly scheduled
AutoPay payments equal to the Minimum Payment Amount disclosed
on each Periodic Statement in time for such payments to be
received by MobiLoans, LLC on the payment Due Date set forth
in each such Periodic Statement. For each payment, whenever
an ACH debit entry to your Demand Deposit Account is returned
to us for any reason, we may reinitiate an ACH debit entry to
your Demand Deposit Account up to two additional times after
our first presentation for each scheduled payment amount. If
your payment is due on a non-business day, it will be processed
on the next business day. This Electronic Payment Authorization
is to remain in full force and effect until MobiLoans, LLC shall have
received written notification from you stating that you terminate
this authorization in such time and in such manner as to afford
MobiLoans, LLC a reasonable opportunity to act upon such notice.
This Electronic Payment Authorization applies to the repayment of
all amounts owing on your Mobiloans Credit Account, including amounts
outstanding on or before the date on which you agreed to this
Electronic Payment Authorization. If your Mobiloans Credit Account
is in Default you agree we may initiate an ACH debit to your Demand Deposit Account
for the entire amount you owe us (see Section XI,
Default, above). This Electronic Payment Authorization is to remain
in full force and effect for as long as your Mobiloans Credit
Account is open. You may revoke this Electronic Payment
Authorization by calling us at 877-836-1518 or writing to us at
Mobiloans Customer Support, MobiLoans, LLC, P.O. Box 1409,
Marksville, LA 71351. If you revoke this Electronic Payment
Authorization, you agree to make payments to us by another
method acceptable to us as set forth in these Terms and
Conditions. In no event shall any revocation of this Electronic
Payment Authorization be effective with respect to payment
entries processed by us prior to our receipt of a notice
to withdraw such Electronic Payment Authorization.
Your bank may impose a fee if your Demand Deposit Account becomes overdrawn or if
a payment is attempted against your Demand Deposit Account that would cause it to
become overdrawn. You will not hold us or our agents, representatives, successors
or assigns responsible for any fees you must pay as a result of payment being
presented at your bank in connection with this Electronic Payment Authorization.
Contact your bank for more information specific to your Demand Deposit Account.
You authorize us to verify and correct all information you have provided
to us about your Demand Deposit Account, including, without limitation,
past and/or current information about your bank, your bank routing and
transit number and your Demand Deposit Account number.
This Electronic Payment Authorization is subject to the following provisions:
- Right to stop payment and procedure for doing so.
If you have told us in advance to make payments out of your Demand Deposit Account,
you can stop any of these payments by calling us at 877-836-1518 or writing to us
at Mobiloans Customer Support, MobiLoans, LLC, P.O. Box 1409, Marksville, LA 71351,
in time for us to receive your request by 4:00 p.m. Central Time at least 2
Business Days before the payment is scheduled to be made. If you call,
we may also require you to put your request in writing and get it to us
within 14 days after your call.
- Liability for failure to stop payment
of preauthorized transfer. If you order us to stop a pre-authorized
transfer by 4:00 p.m. Central Time at least 2 Business Days before the transfer
is scheduled, and we do not do so, we will be liable for your losses or damages.
- Notice of varying amounts.
You agree that you will receive a notice at least 10 days before a payment
is debited from your Demand Deposit Account in an amount that varies from
the amount disclosed (a) in your periodic billing statement or (b) in your
payment schedule on the My Account page.
This Electronic Payment Authorization is a payment mechanism only and does not give us collection rights greater than those otherwise contained in your Mobiloans Credit Account terms and conditions. This Electronic Payment Authorization does not constitute and is not intended to constitute a security interest under Tribal law.
In case of errors or questions about an AutoPay or electronic payment, call us at 877-836-1518 or write to us at Mobiloans Customer Support, MobiLoans, LLC, P.O. Box 1409, Marksville, LA 71351. We must hear from you no later than 60 days after we sent the FIRST Periodic Statement on which the problem or error appeared.
- Tell us your name and account number;
- Describe the error or the transfer you are unsure about, and explain as clearly as you can why you believe it is an error or why you need more information; and
- Tell us the dollar amount of the suspected error.
If you tell us orally, we may require that you send us your complaint or question in writing within 10 Business Days.
We will determine whether an error occurred within 10 Business Days after we hear from you and will correct any error promptly.
If we need more time, however, we may take up to 45 days to
investigate your complaint or question. If we decide to do this,
we will credit your account within 10 Business Days for the
amount you think is in error, so that you will have the use
of the money during the time it takes us to complete our
investigation. If we ask you to put your complaint or
question in writing and we do not receive it within 10
Business Days, we may not credit your account.
For errors involving new Accounts (Accounts that have been open less than 45 days), we may take up to 90 days to investigate your complaint or question. For new Accounts, we may take up to 20 Business Days to credit your Account for the amount you think is in error.
You will be liable for any unauthorized EFT that occurs more than 60 days after transmittal of the first periodic statement showing the unauthorized EFT and before you provide written notice, provided that we establish that the unauthorized EFT would not have occurred had you notified us within the 60 day period. If we are unable to prove that the unauthorized EFT would not have occurred with proper notification, you will not be liable for the disputed amount.
We will tell you the results within 3 Business Days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation. If you need more information about our error-resolution procedures, call us at 877-836-1518 or write to us at Mobiloans Customer Support, MobiLoans, LLC, P.O. Box 1409, Marksville, LA 71351. If provisional credit was provided, the amount will be debited from your account. We will notify you of the date and the amount of the debit.
You acknowledge that you are not required to consent
to receive funds or repay amounts owing on your
Mobiloans Credit Account by ACH debits and credits
to your Demand Deposit Account. If you authorize us
to effect ACH debit entries to your Demand Deposit
Account for your Account, you also agree that this
Electronic Payment Authorization is to remain in full
force and effect unless you terminate such authority.
If you terminate such authority, you agree to provide
us with another means of payment acceptable to us in
our sole discretion.
XXII. Credit Bureau
As part of the credit review process, we may obtain information about your
credit history and standing from one or more consumer reporting agencies and/or
other data providers. Once you have an account with us, we may also review your
credit information for account monitoring purposes as permitted by the Fair Credit Reporting Act.
We are currently reporting loan transaction history to one or more major credit reporting agencies.
We will report payment history from your account on a monthly basis. Because we report on a monthly basis,
please allow up to 30 days for a recent transaction to appear on your credit report. If you have a question,
complaint, or dispute regarding information reported to a credit bureau, contact us at email@example.com,
or call us at 877-836-1518, or write to us at Mobiloans Customer Support, MobiLoans, LLC, P.O. Box 1409, Marksville, LA 71351.
Please provide, in writing, the specific information being disputed, a basis for the dispute, and include all documents
that support the dispute. We will conduct an investigation with regards to the information provided within 30 days of receipt.
If it is determined that an error was made, we will immediately notify each consumer reporting agency we report to of the error
and provide them with the correct information.