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 Posted: Tue Oct 30, 2007 4:46 pm Subject: CFSA Best Practices and Guidelines for Extended Payment Plan
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can someone tell me where to find the CFSA Best Practices and Guidelines for Extended Payment Plan?
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Lren0318
Joined: 29 Oct 2007
Posts: 186
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Posted: Tue Oct 30, 2007 4:51 pm Subject:
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Lren - Do you know about pm's...on the right side of the screen there is the CHAT with the icon..under that is your mailbox...It says -You have - new messages. Click on that. I pm'd you the information you are looking for.
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In life it doesn't matter
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RoxyNY
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Posted: Tue Oct 30, 2007 4:54 pm Subject:
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It should be in the info I gave you but here it is again:
| Quote: | CFSA Best Practices and Guidelines for Extended Payment Plans
Subject to applicable state laws, each member shall provide an Extended Payment Plan (“EPPâ€) for customers who are unable to repay a loan. The member shall adopt a plan that offers the customer at least the following provisions:
You [the customer] may opt into an EPP to pay an outstanding loan if you are unable to repay your loan when due. Any outstanding fee will be included in the amount subject to EPP.
You must invoke the EPP by close of business on the last business day before the loan due date by returning to the office where you obtained the loan or by using whatever method you used to obtain the loan. To invoke the EPP, you must sign an amendment to your loan agreement reflecting the new payment schedule.
You may pay the transaction balance in four equal payments coinciding with your periodic pay dates.
We will not begin collection activities while you are under an EPP as long as you meet all obligations under the EPP.
There is no charge for you to enter into an EPP. However, if you default on an EPP, we may charge you an EPP fee and accelerate payment on the balance remaining, as authorized by applicable law. |
_________________
In life it doesn't matter
how hard you hit, it matters
how hard you get hit
and keep moving forward.
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RoxyNY
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goudah2424
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