Online Payment Agreement


This Online Payment Agreement ("Agreement") for initiating payments to your Preferred Credit, Inc. account(s) governs the online payment service offered by Preferred Credit, Inc. By using the online service, you agree to abide to the terms and conditions provided to you through this service.

This Agreement will be governed by and interpreted in accordance with all applicable federal laws and regulations. The terms "we," "us" and "our" refer to Preferred Credit, Inc. The terms "you" and "your" refers to each borrower on an account. The term "business days" means Monday through Friday, excluding Saturday, Sunday and federal banking holidays.

Requirements

To initiate payments toward your account(s) through the online payment service, you must have an eligible bank account and an online password.

Fees

There are no monthly or transaction fees for initiating payments through the online payment service.

Please note, fees may be assessed and billed separately by your funding provider and online service provider.

Disclosures

The first time you initiate payments through the online payment service you will be required to confirm your acceptance of the Agreement. It is understood and agreed by you that this service is provided for your convenience and payment of your account(s) continues to be your responsibility and obligation as stated in your existing agreement with Preferred Credit, Inc.

You agree and acknowledge that Preferred Credit, Inc. is not liable or responsible for any system failure, your misdirection of payment, or system error that was beyond Preferred Credit, Inc.'s control.

Password

You will create an online password that will allow you to initiate online payments to your account(s). This password can be changed. We recommend that you change your password regularly. We are entitled to act on instructions received under your password. For security purposes, it is recommended that you memorize this online password and do not write it down. You are responsible for keeping your password and account data confidential.

Liability

Except as specifically provided in this Agreement or where the law requires a different standard, you agree that Preferred Credit, Inc. is not responsible for any loss, property damage or bodily injury, whether caused by the equipment, software, Preferred Credit, Inc. or by internet browser providers such as Netscape® (Netscape Navigator browser) and Microsoft® (Internet Explorer browser), or by internet access providers or by online service providers or by an agent or subcontractor of any of the foregoing.

Nor shall we be responsible for any direct, indirect, special or consequential, economic or other damages, arising in any way out of the installation, use or maintenance of the equipment, software, the online services or internet browser or access software.

Changes to Charges, Fees or Other Terms

We reserve the right to change the charges, fees or terms described in this Agreement. When changes are made to any fees, charges or other material terms, we will update this Agreement and either send you a notice at the address shown on our records, or send you an electronic mail message (email).

The notice will be posted or sent at least 30 days in advance of the effective date of any additional fees for online transactions, or of any stricter limits on the type, amount of frequency of transactions or any increase in your responsibility for unauthorized transactions, unless an immediate change is necessary to maintain the security of the system.

If such a change is made, and it can be disclosed without jeopardizing the security of the system, we will provide you with electronic or written notice within 30 days after the change. As always, you may choose to accept or decline changes by continuing or discontinuing participation in online bills. We also reserve the option, in our business judgment, to waive, reduce or reverse charges or fees in individual situations.

Disclosure of Information

We understand the need to safeguard your information and records. Preferred Credit, Inc. maintains standards and procedures to prevent misuse of this information and unauthorized access to your information, accounts and records.

While state and federal law require some of these procedures, Preferred Credit, Inc. has implemented additional procedures to assure your personal privacy. You authorize Preferred Credit, Inc. to disclose to third parties, such as independent auditors or attorneys, information you have provided, contained in Preferred Credit, Inc.’s account files, or that we have obtained about your account(s):

  • To comply with government agency or court orders contained in Preferred Credit, Inc.’s loan files, subpoenas or requests; or
  • To verify the existence and condition of your account for a third party, such as a credit bureau; or
  • To provide services relating to your account or to offer other products and services; or
  • If you give us your permission.

Remedies

Disputes between you and Preferred Credit, Inc. under this Agreement that relate to your payment(s) are subject to the provisions of your note and applicable remedies.

Other General Terms

In addition to this Agreement you agree to be bound by and will comply with the requirements of the rules and regulations of any funds transfer system and applicable state and federal laws and regulations. We agree to be bound by them also.

Preferred Credit, Inc. reserves the right to terminate this Agreement and your access to initiate online payments, in whole or in part, at any time. Preferred Credit, Inc. may assign this Agreement to its parent corporation or to any now-existing or future direct or indirect subsidiary or affiliate. Preferred Credit, Inc. may also assign or delegate certain of its rights and responsibilities under this Agreement to independent contractors or other third parties.

To obtain a copy of this Agreement and the terms and conditions, you may print a copy or contact our customer service line at (800) 972-0825.