pci
RETAIL CHARGE AGREEMENT/CONSUMER CREDIT REVOLVING CHARGE ACCOUNT/SECURITY AGREEMENT
UR36-R
Preferred Credit, Inc. 628 Roosevelt Road, St. Cloud, MN 56301 ZIP Line: 877-878-1079 Customer Service: 800-972-0825
FYOUARE MARRIED. YOUMAY APPL FORCREDIT SEPARATEL YASANINDMDUAL
PCIConsumerAccountNo.
TYPE OF CREDIT REQUESTED (CHECK APPROPRIATE BOX):
WE INTEND TO
APPLYFOR
NDMDUAL-INYOUR YING ROWN INCOME COMP BUYERI INFORMATION.
JOINT CREDIT
APPLICANT/
COAPPLICANT/
JOINT-WITHANOTHERPERSON COMPLI LETEBUYERAND JYERI INFORMATION.
BUYERNTIALS
COBUYERNTIALS
IDENTIFICATION VERIFICATION
Verify Customer's
ApplicantsDiversLicenselD.#
State
ExpirationDate
Government Issued I.D.
CoApplicantsDiver'sLicens
State
ExpirationDate
APPLICANT INFORMATION*
LastName
FirstName
Middleinit
Datedfirth
SocialSecurity#
HomePhone#
CellPhone#
PhysicalAddress
Apt/Lot#
CityState
ZP
YearsThere
EmailAddress
Primary Income Type
MonthlyGrossincome
Full-Time
Self-Employed
Miltary Pay Grade
your creditwort thiness.
Part-Time
Retired
Other
$
Years There
Full-Time
Self-Employed
Miltary Pay Grade
Part-Time
Retired
Other
$
Job Tite
EmployerPhone
BusinessExt
OWNS
RENTS
HOUSE
APT
CONDO
HyHousingPayment
PROVIDED
OTHER
MOBILE
LIVES WITHFAMILY
$
Employer Location(Cly,State)
Bank Accounts
CHECKING
SAVINGS
Please Check ALL that Apply:
CO-APPLICANT INFORMATION:
SPOUSE
CO-BUYER; ELATIONSHIP:
UR36-R
LastName
FirstName
Middle init
Datedfirth
SocialSecurity#
HomePhone#
CellPhone#
PhysicalAddress
Apt/Lot#
CityState
ZP
Years There
Primary Income
MonthlyGrossincome
Otherincome (CheckALL thatapply): Alimony, childsu apportance mainter need disdosedify oconsider themi indetermining
Full-Time
Self-Employed
Miltary Pay Grade
your creditworthiness.
Part-Time
Retired
Other
$
EmployerPimarySauredihoome
YearsThere
Full-Time
Self-Employed
Miltary Pay Grade
lonthlyGrossOfherhoome
Part-Time
Retired
Other
$
Job Tite
EmployerPhone
BusinessExt
OWNS
RENTS
HOUSE
APT
CONDO
MonthlyHousingPayment
PROVIDED
OTHER
MOBILE
LIVES WITHFAMILY
$
Employer Location(Cly,State)
Bank Accounts
CHECKING
SAVINGS
Please Check ALL that Apply:
**** REFERENCES ****
ClyState
RelaivesPhone
Relationship
(2)
ClySate
RelaivesPhone
Relationship
1.
By signing below you (a) apply for credit; (b) agree that, to the best of your knowledge, all information contained in the application above is complete and accurate; (c) recognize that we may obtain consumer
reports on you in connection with your application and may obtain and use subsequent reports in connection with an update, renewal or extension of credit for which you may apply, and other uses not prohibited
by law; (d) expressly authorize any third party (i.e. creditor, bank, or financial institution; employer, landlord; etc.) to release whatever information that we may request concerning you; (e) agree that we may monitor
and record telephone calls regarding your account for quality assurance and for other reasons not prohibited by law; (f) expressly consent and agree to us using written, electronic or verbal means to contact you
as
not otherwise prohibited by law including, but not limited to, contact by manual calling methods, prerecorded or artificial voice messages, text messages, emails, and/or automatic dialing systems and do SO using
any email address or telephone number you provide, now or in the future, including a number for a mobile phone or other wireless device regardless of whether you may incur charges as a result (g) acknowledge
that the terms and conditions of this Agreement is subject to credit approval; (h) acknowledge that Interest Charges will be imposed in amounts or rates not in excess of those permitted by law; (i) acknowledge this
instrument is based upon a home solicitation sale, which is subject to the provisions of the Home Sale Disclosure law set forth under Additional Terms and Disclosures in paragraph 17 "Home Sale Disclosure
Laws"; (j) grant us a purchase money security interest in any goods you purchase under this Agreement which are described in any order, invoice or similar document issued by the Seller (as provided below)
which
becomes
part of this Agreement; (k) acknowledge that this instrument is not negotiable; and (I) acknowledge that you are receiving the Retail Charge Agreement: Additional Terms and Disclosures. The Additional
Terms and Disclosures are in effect on the date of execution and incorporated herein.
NOTICE TO BUYER: (a) Do not sign this Agreement before you read it or if any spaces intended for the agreed terms are left blank. (b) You are
Your signature(s) below mean that (a) you
entitled to an exact copy of this Agreement at the time you sign it. (c) You may at any time pay off the full unpaid balance under this Agreement. If
have read and agree to the terms and
you choose to cancel the purchase, you must return or make available to seller at the place of delivery any merchandise, in its original condition,
conditions as set forth on all 6 pages of this
received by you under the purchase agreement. Your signatures below mean that you have received a completely filled in copy of this Agreement.
Agreement: (b) you agree to the terms of this
Keep this Agreement to protect your legal rights.
Agreement; and (c) you will pay any
CAUTION- IT IS IMPORTANT THAT YOU THOROUGHLY READ THE CONTRACT BEFORE YOU SIGN IT.
advances made under this Agreement
according to its terms.
X
Date
/
/
X
Date
/
/
Buyer'sSignature
CoBuyer'sSignature
BUYERSIGNS
COBUYERSIGNS
SELLER:
SALE:
PROMOTIONAL CREDITPI AN(ifapplicable):
CompanyName
Consulat
Address
PCICientNo:
AUTHORIZATIONFORPREAUTHORIZEDPAYMENTS
By signing below, I hereby request and authorize Preferred Credit, Inc. (PCI) to initiate entries to debit my account on the due date for the minimum monthly payment amount shown on my monthly periodic
statement of account (or the next business day if the due date falls on a weekend or holiday) and as otherwise described below. This authority is to remain in full force and effect until PCI is paid in full, or PCI has
received written notification of its termination at 628 Roosevelt Road, St. Cloud, MN 56301 or I have notified my financial institution at least three business days before the scheduled payment. In addition to the
payment amount, I request and authorize PCI to initiate entries to debit my account to collect any incidental fees or charges that may be due on the Agreement following maturity, as permitted by applicable law.
Bank/Financial Institution Name:
Location (City, State, Zip):
CheckWhichOreApples:
CHECKING
SAVINGS
Routing Number:
Account Number.
Name (Print):
Signature:
Page of6
CUSTOMER PRIVACY
FACTS
WHAT DOES PREFERRED CREDIT, INC. ("PCI") DO WITH YOUR PERSONAL INFORMATION?
Rev. 10/19
Why?
Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we
collect, share and protect your personal information. Please read this notice carefully to understand what we do.
What?
The types of personal information we collect and share depend on the product or service you have with us. This information can include: (1) Social Security Number and income; (2) account
balances and payment history; and (3) credit history and credit scores.
How?
All financial companies need to share customers' personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers'
personal information; the reasons PCI chooses to share; and whether you can limit this sharing.
Reasons we can share your personal information
Does PCI share?
Can you limit this sharing?
For our everyday business purposes - such as to process your transactions, maintain your account(s), respond to court orders and
Yes
legal investigations, or report to the credit bureaus
No
For our marketing purposes to offer our products and services to you
Yes
No
For joint marketing with other financial companies
No
We don't share
For our affiliates' everyday business purposes-information about your transactions and experiences
No
We don't share
For our affiliates' everyday business purposes information about your creditworthiness
No
We don't share
For our affiliates to market to you
No
We don't share
For nonaffiliates to market to you
Yes
Yes
To limit our
Complete the opt-out election form below.
sharing
Please note: If you are a new customer, we can begin sharing your information 30 days from the date we sentthi notice. When you are no longer our customer, we continue to share your
information as described in this notice. However, you can contact us at any time to limit our sharing.
Questions?
Call 320-255-9784 or go www.preferredcredit.com
What we do
How does PCI protect my personal information? To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include
computer safeguards and secured and buildings. We continually evaluate and access new technology for protecting your nonpublic personal information.
How does PCI collect my personal information? - We collect personal information, for example, when you (1) apply for financing or give us your contact information; (2) provide account information or pay
your bills; and (3) show your government-issued ID. We also collect your personal information from others, such as credit bureaus, affiliates, or other companies.
Why can't I limit all sharing? - Federal law gives you the right to limit only (1) sharing for affiliates' everyday business purposes (i.e. information about your creditworthiness); (2) affiliates from using your
information to market to you; and (3) sharing for nonaffiliates to market to you. State laws and individual companies may give you additional rights to limit sharing. See below for more on your rights under state
law.
What happens when I limit all sharing for an account I hold jointly with someone else? Your choices will apply to everyone on your account unless you tell us otherwise.
Definitions
Affiliates - Companies related by common ownership or control. They can be financial or nonfinancial companies. PCI does not share with our affiliates.
Nonaffiliates - Companies not related by common ownership or control. They can be financial and nonfinancial companies. Nonaffiliates we share with can include direct marketing companies and the retailer
named on your account.
Joint Marketing - Aformal agreement between nonaffiliated financial companies that together market financial products or services to you. PCI does not jointly market
Other Important Information
We follow state law if state law provides you with additional privacy protections.
Opt-out
Mark if you wish to limit how we share your personal information with nonaffiliates:
Election
Applicant Co-Applicant
Do not share my personal information with nonaffiliates to market their products and services to me.
Assignment by Seller ("Assignment'): FOR VALUE RECEIVED: Seller sells and assigns this Retail Charge Agreement (the "Agreement') to Preferred Credit, Inc., 628 Roosevelt Road, St. Cloud, MN 56301,
the assignee, its successors and assigns, including all of Seller's rights, title, and interest in this Agreement. Assignee has full power to take all legal and other actions, which Seller could have
taken
under
this
Agreement. The undersigned acknowledges that this Assignment incorporates by reference the terms of the Finance Agreement between the undersigned and Preferred Credit, Inc. including but not limited to
the representations, warranties, liabilities, conditions and obligations of the undersigned contained therein.
(Corporate, Firm or Trade Name of Seller)
(Owner, Officer or Firm Member)
Florida documentary stamp tax required by law in the amount of $0.35 for every $100 or fraction thereof of the indebtedness has been paid or will be paid directly to the Department of Revenue.
Certificate of Registration No. 78-8013652822-2 (for Agreements assigned to Preferred Credit, Inc.).
(Fla. Admin. Code §12B-4.001(2)(g) & Fla. Stat. Ann. 201.08).
THIS DOCUMENT IS SUBJECT TO A SECURITY INTEREST IN FAVOR OF US BANK NATIONAL ASSOCIATION.
REVISED 10-01-2019 PRINTED 00-00-2019
UR36-R
1990-2019 Preferred Credit, Inc. ALL Duplication of this twithout the copyright towner's prior written consentis strictly prohibited.
Page 2of6
RETAIL CHARGE AGREEMENT: ADDITIONAL TERMS AND DISCLOSURES
IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT: To help the government fight the funding of terrorism and money laundering activities, Federal law requires all
financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: When you open an account, we will ask for your name, address, date
of
birth, and other information that allow us to identify you. We may also ask to see your driver's license or other identifying documents.
Interest Rates and Interest Charges
Annual Percentage Rate (APR) for Purchases
Varies
by
State,
from
17%to 18%.
See
your
account
agreement
for
more
details.
How to Avoid Paying Interest
Your due date is at least 25 days after the close of each billing cycle. We will not charge you any interest purchases if you pay your entire balance by
the due date each month or such time as Applicable Law allows. See your account agreement for more details.
If
you are charged interest, the charge will be no less than an amount that varies by State between $0.00 and $4.76. See your account agreement
for
Minimum Interest Charge
more details.
For Credit Card Tips from the Consumer
To learn more about factors to consider when applying for or using a credit card, visit the website of the Consumer Financial Protection
Financial Protection Bureau
Bureau at http://www.consumerfinance.gov/leammore.
Fees
Transaction Fees
None.
Penalty Fees
Late Payment
Varies by State, from (a) $0 to (b) up to $35. See your account agreement for more details.
Return Payment
Varies by State, from (a) $0 to (b) up $30. See your account agreement for more details.
How We Will Calculate Your Balance: We a method called 'average daily balance (including new purchases) unless Applicable Law does not prohibit a method called the "daily balance method." See
your account agreement for more details.
Billing Rights: Information on rights to dispute transactions and how to exercise those rights is provided in your account agreement.
1. Definitions: In this Retail Charge Agreement ("Agreement"): The word "Account" refers to the account that is established with the Seller, and their successors or assigns, that is the subject of this Agreement.
The words "you" and "your" refer to each individual who signs the Application for the Account, and who authorized to use the Account The words "we," "us" and "our" refer to the Seller, and any assignee of the
Seller. The words "Acceptable Documentation" shall refer to Purchase Orders, phone orders, or orders from our website, SO long as such orders are signed (physically or electronically) or otherwise verbally or
electronically authenticated. The words "Applicable Law" mean federalla and the laws of the state, commonwealth, or temtory of your residence, as indicated in the "Applicant" portion of your application for
this Account as your state of residence and the state in which this account operated. You and we agree that these Applicable Laws apply to this Agreement. The words "Purchase Order" refer to the document
describing the type, quantity and agreed price of merchandise you buy from the Seller.
2. Account: This Agreement applies to your retail charge purchase of goods and services from US. The amount of your initial purchase from Seller govern the amount of the initial credit limit on your Account,
which will be set at higher amount than the cost of the goods purchased based our expectation that you will use the Account to make additional purchases. You may make add-on purchases from the Seller
or Seller's assigns which will be evidenced by Acceptable Documentation. Acceptable Documentation must provide the cash price of the merchandise purchased. By signing future Acceptable Documentation
you agree those purchases thereby confirmed will be subject to this Agreement You agree that add-o orders which exceed the credit limit established with your initial order are subject to credit approval. We
reserve the right deny authorization for any requested credit limi increase.
3.
Promise to Pay: In return for extending credit to you on this Account from time to time, each of you agrees to pay for all purchases any of you charge on this Account, and all other charges mentioned below,
according to the terms of this Agreement When you sign the Application for this Account, you will be agreeing to the terms and conditions in this Agreement, which include the cost of credit disclosures required
by Applicable Law. This Agreement will be effective approve your Application, and we or our assignee provides any disclosures required by the federal Truth Lending Act, and then, after that, only
if
you someone authorized by you sign a Purchase Order or otherwise charge a purchase to this Account
4. Billing: You will be billed monthly for credit purchases from us, as shown on a Purchase Order signed by you (or completed at your direction), and for any previous unpaid balance as required by Applicable
Law. You receive a monthly periodic statement of account for any month which you have an outstanding balance more than $1.00 or which an Interest Charge has een imposed. In Florida, Nebraska
Ohio and Texas, you vill receive a monthly periodic statement of account if have an outstanding balance. Your monthly periodic statement of account show your new unpaid balance, any new purchases
have made since monthly périodic statement of account, and your Minimum Monthly Payment Your credit limit will also be shown on your monthly periodic statement of account
5. Payment: You have the right to pay your entire balance in full or more than the Minimum Monthly Payment at any time. Otherwise, you agree to pay at least the Minimum Monthly Payment, which
includes Interest Charges. You must make payment in U.S. Dollars, with a draft, money order, or check drawn on a U.S. Bank or the U.S. Post Office. We may accept late payment, partial payments, or any
payments marked "payment in full, any of our rights under this Agreement or Applicable Law.
6. Interest Charges: Unless you are offered a Promotional Credit Plan as described below, and as not prohibited by Applicable Law, Interest Charges will begin to accrue upon delivery of the merchandise you
purchase. Delivery occurs upon the earlier of the date of shipment of the merchandise, or the date of hand delivery of the merchandise. No Interest Charges will be imposed on new purchases, however, if (a)
there was no outstanding balance under your Account at the beginning of the billing period in which the purchase was made (which includes the period in which you make your initial purchase of merchandise
under this Agreement), and (b) you pay off your Account by the payment due date reflected in the monthly periodic statement of account for that billing period in Maine, 25 days after closing date of billing
payment may due). the Interest Charge your Account by applying daily periodic to the "averageda balance" your Account (including current insactions) and multiplying
the result by the number of days in the period. To get the "average daily balance" we take the beginning balance of your Account each day, add any new purchases, and subtract any payments or credits.
This gives us the daily balance. Then, we all the daily balances the billing cycle and divide the total by the number of days in the billing cycle This gives us the "average daily balance. Your daily periodic
rate and the corresponding Annual Percentage Rate are indicated in the chart below. The daily periodic rate will be the annual rate divided by 365 (366 in a leap year). In Ohio, the applicable Interest Charge will
not exceed 11/2% a month.
Applicable
Daily
Corresponding
Law
Periodic Rate
ANNUAL PERCENTAGE RATE
AR
0.0466%
17%
AL, ME, MP, NE, NC, OH, TX, WV
0.0493%
18%
Notwithstanding the above, in Alabama, Arkansas and Florida, we figure the Interest Charge on your Account by applying the daily periodic rate to the "daily balance" of your account for each day in the billing
cycle. To determine the daily balance, we take the beginning balance each day, add any new charges posted that day, and subtract any payments and credits posted that day. This gives us the daily
balance. Then, we calculate the amount of interest charged by multiplying the applicable daily periodic rate by each daily balance on your account Your Interest Charge for the billing cycle the sum of the interest
amounts that were charged each day during the billing cycle. The portion of any balance arising from the sale of goods which are returned will be excluded from the unpaid balance as of the date the goods are
returned.
Minimum Monthly Interest Charge: As not prohibited by Applicable Law, the Interest Charge that results from the application of the above stated daily periodic raf (the "Calculated Interest Charge"), is less
than $0.50, we will impose minimum monthly INTEREST CHARGE of $0.50. In Florida and Ohio, the Calculated Interest Charge isless than $1.00, we minimum monthly INTEREST CHARGE
of $1.00. In Guam and the Northern Mariana Islands) ifthere is an unpaid balance on the date fwhich the Interest Charge applied and the Interest Charge sless than the Minimum Monthly Charge, aminimum
charge not exceeding $4.76 be made. In Texas, if the Interest Charge that results from the application of the above stated daily periodic rate is less than $0.75, we impose a minimum monthly INTEREST
CHARGE of $0.75, as not prohibited by Applicable Law. In Nebraska and North Carolina, we impose a minimum monthly interest Charge.
8. Minimum Monthly Payment: You make payments of at least the total Minimum Monthly Payment each month as required by our monthly periodic statements of account Your total Minimum Monthly
Payment consist of: (1) any past due amounts, and (2) a regularly scheduled Minimum Monthly Payment The regularly scheduled Minimum Monthly Payment will be equal to the greater of. (a) the regularly
scheduled Minimum Monthly Payment shown on your Purchase Order, (b) $25.00; or (c) 3.00% of the Account balance immediately following the first or any subsequent purchase on your Account.
9. Promotional Credit Plans: In addition to purchases that accrue Interest Charges and require monthly payments as described previously in this Agreement, as part of this Account, Promotional Credit Plans
may be offered fr time on specific additional purchases for qualified buyers. Purchases made under these Promotional Credit Plans may have different interest charge calculations and required minimum
payments. A Promotional Credit Plan is strictly limited by its terms and the terms and conditions of the special promotion to which it relates. In addition, the benefits of a Promotional Credit Plan will expire and all
accrued Interest Charges in these plans will be added to your Account you pay the promotional balance by the end of the promotional period or you are in default for a period of 60 or more days during the
promotional period. The special promotions that may be offered include:
9.a.
Same as Cash Plan: the purchase price before the expiration date of a Same as Cash Plan, indicated your monthly periodic statement of account, and pay the Minimum Monthly Payment
period when due, no Interest Charges imposed o the purchase. such payments are not made, Interest Charges from the date of delivery will be added to your Account either when you fail
to
make a payment within 60 days of the due date or, at the end of the Same as Cash Plan period any portion of the promotional balance remains outstanding.
9.a.1. How Payments Are Applied When Same as Cash Plan Is In Effect: Unless otherwise required by Applicable Law, during the two billing cycles immediately preceding expiration of the Same as Cash
Plan period, any amount paid excess of the minimum payment due will be allocated first to the balance subject to the Same as Cash Plan and any remaining portion to any other balances. We may offer Same
as Cash Plan periods of 6 months, months, 12 months or of different lengths that we will announce from time to time.
10. Application of Payments: Unless otherwise required by Applicable Law, payments except d payments, shall applied first Minimum Monthly Payments, beginning with the oldest, then to
the current Minimum Monthly Payment, and then to other unpaid late fees, costs and fees arising under this Agreement. Arkansas: Partial payments will be appliéd first to any accrued Interest Charges. West
Virginia: For purposes of assessing delinquency charges, payments first will be applied to the current payment due in the payment period in which the payment is received and then to delinquent installments.
West Virginia: Payments will be applied first to the payment of interest charges in the order of their entry to the Account and then to the payment of debts in the order in which the entries to the Account show the
debts were made.
Page 3of6
11. Other Charges:
11.a. Fees: Except Guam or the Northem Mariana Islands, you will pay the maximum late fee allowed (which you agree we will add to the balance due on your Account) for payments not made
on
time,
calculated as Applicable Law allows. Except in Arkansas days), Maine days), North Carolina (30 days) and Texas days), the statutory time period for imposition of a Late Fée is 10
days
after
the
due
date ("Due Date") for each payment not received on the scheduled Due Date. Currently, Applicable Law provides for the late fees provided in the table below:
NC
$5 on accounts having an outstanding balance fless than $100; $10 on accounts having an outstanding balance of $100 or more
FL, TX
$10
AR (maximum $5), NE (minimum $5)
5% of the installment
AL (minimum $18, maximum $100), ME (maximum $10), OH (maximum $3), WV (maximum $30)
5% of the unpaid amount of the installment
Notwithstanding anything to the contrary above, if the late fee as calculated above would exceed $25, you not be charged more than $25 for the first violation, or $35 for any violation occurring within SIX billing
cycles of a previous late payment In addition, regardless of the amounts reflected above, you will not be charged more than the amount of the required minimum periodic payment due immediately prior to the
assessment of the late payment fee
11.b. Returned Check Charge: Except Nebraska, you will pay a returned check charge (except in Guam and the Northem Mariana Islands, which you agree we will add to the balance due on your Account)
any check, negotiable order of withdrawal, share draft, or item you give for payment under the Agreement is dishonored for any reason by the bank or other institution on which is drawn. We will impose the
maximum returned check charge as Applicable Law allows of which the currentrétumed check charge is provided in the table below:
ME
Bank Charge Only
FL, GU, MP, NC, WV
$25
AL, AR (plus bank charges), OH, TX
$30
Notwithstanding anything to the contrary above, if the returned check charge as calculated above would exceed $25, you not be charged more than $25 for the first violation, or $30 for any violation occurring
within six billing cycles of a previously dishonored payment. In addition, regardless of the amounts reflected above, you will not be charged more than the amount of the required minimum periodic payment due
immediately prior to the date on which the payment is returned or otherwise dishonored.
11.c. Phone Payment Processing Fee: Except in Guam, the Northern Mariana Islands, North Carolina, and Texas, you will pay a phone payment processing fee (which you agree we will add to the balance
due on your Account) for each expedited payment you make by phone. The current phone payment processing fee $11.75.
12. Security Agreement: You grantus a purchase money security interest each purchased with this Account ("Goods") to the extent prohibited by Applicable Law (including the Uniform
Commercial Code). You will, on request, take all reasonable actions requested by us to preserve and protect the Goods and our security interest in the Goods. You also agree to take all reasonable actions
requested by us to establish, determine the priority of, perfect, continue the perfection of, terminate or enforce our security interest in the Goods and our rights under this Agreement In addition to other rights
we
may have under this Agreement, you do not make payments as agreed, this security interest allows us to take actions not prohibited by Applicable Law governing security interests in the Goods. You also agree
to keep the Goods installed at the address you provided your credit application and to not remove or alter the Goods without our prior written consent. You may lose the Goods fyou do not meet your
obligations
ous under this Agreement.
13. Default: If you fail to make any payment when due, or the prospect of your payment, performance, or our realization of collateral is significantly impaired, to the extent not prohibited by Applicable Law, and
subject to any notice of default and opportunity to cure required by Applicable Law, we may declare the full remaining balance immediately due and payable. We may also repossess any article of merchandise
in which we retain a security interest we do SO peacefully and the law allows it. Notwithstanding the preceding provisions, in the event of a late payment or nonpayment, we will not déclare the full remaining
balance immediately due and payable or repossess any article of merchandise if, within the applicable grace period identified in Paragraph 11 above, we receive payment together with any late fees. If you fail
to
pay within the applicable grace period, we may, at our option, declare the full remaining balance immediately due and payable, to the extent permitted by Applicable Law. Unless required by Applicable Law to
provide you a notice of default and of right to cure, you agree that we do not have to give you notice that we intend to demand or are demanding immediate payment of all you owe. If the Account is referred to
an attorney who is not our salaried employee and we bring suit against you to collect the amount you owe and we are the prevailing party, you agree to pay our reasonable attorneys fees and court costs not
prohibited by Applicable Law. In Alabama, attorney's fees for collection will not exceed 15% of the unpaid debt and you have to pay any attorney's fees after default the unpaid balance at the time of default
$300 or less. In Ohio, you will not have to pay attorney's fees for collection unless authorized by a court You also agree to pay our collection costs and costs incurred in taking the collateral, holding it, preparing it
for sale, and selling as not prohibited by Applicable Law. In Nebraska, you not have to pay attorney's fees. In Maine and West Virginia, you will not pay attorney's fees or collection costs, other than reasonable
charges we incur realize security interest in the Goods (other than attorney's
14. Canceling or Reducing Your Credit Limit: We have the right any time to limit or terminate the use of your Account and raise or lower your credit limit without giving you advance notice. Some purchases
will require prior uthorization, in which case you may be asked to provide identification. If our authorizations system is unavailable, we may not be able to authorize a transaction, even you have sufficient credit.
We will not be liable to you if this happens. We are not responsible for the refusal of anyone to accept or honor an addition to this Account. In addition, even if you cancel the use of your Account, you are still
responsible for any Account balances incurred by an authorized user that remain unpaid.
15. Change in Terms: You agree that we may amend the terms of this Agreement, subject to any notice required by Applicable Law. To the extent allowed by Applicable Law, any new terms may be applied
to any balance existing on the Account the time of the change, as well as subsequent transactions.
16. No Oral Modifications: You agree that we are not bound by any oral agreements or oral modifications to this Agreement.
17. Home Sale Disclosure Laws: Home Sale Disclosure laws govern this transaction. The Home Sale Disclosure law applicable to this Agreement is determined as set forth in paragraphs 1 and 20 of this
Agreement: in Alabama, Ala. Code 5-19-12; Arkansas, Ark. Code 4-89-101 et seq.; Florida, Fla. Stat. Ann. 501.021 et seq.; Maine, Me. Rev. Stat. tit. 9-A, 3-501 et seq.; Nebraska, Neb. Rev. Stat. §§
69-1601 et seq.; North Carolina, N.C. Gen. Stat. et seg.; Ohio, Ohio Rev. Code 1345.21 et seq.; Texas, Tex. Bus. & Com. Code §§ 601.001 et seq.; West Virginia, W.Va. Code 46A-2-133.
18. Delay in Taking Action: We Inotlose any under this Agreement we delay taking action for any reason. To the extent allowed by law, we may take other action not described this Agreement,
and by doing SO rights under this Agreement.
19. Séverability: If any provision of this Agreement is found to be unenforceable, all other provisions shall remain in full force and effect.
20. Applicable Law: The law that applies to this Agreement is defined in this Agreement at paragraph 1. Definitions.
21. Telephone Recording: understand and agree thatfor mutual protection, we may electronically any ourtelephone conversations conducted with Seller or Seller's assigns, including Preferred
Credit, Inc. (PCI), without further notice to the parties to such conversations. These telephone conversations include all conversations between you and Seller or Seller's assigns communicated via traditional
telephone wire and wireless devices such as cordless and cellular phones. You acknowledge and consent to the retention of and use of such recordings by Seller or Seller's assigns, their employees,
representatives and agents of all information and data obtained in any recorded conversation for purposes of settling disputes as well as for ongoing quality assurance programs.
22. Communications: You expressly authorize us our agents to contact you at any phone number (including mobile, cellular/wireless, or similar devices), fax number, or ail address, you provide
at
any
time,
for any lawful purpose. The ways in which we may contact you include live operator, automatic telephone dialing systems (auto-dialer), prerecorded message, text message, fax, or email. Such lawful purposes
include, but are not limited to: obtaining information; account transactions or servicing-rela matters; suspected fraud or identity theft, collection on the Account and providing information about special products
and services. You agree to pay any fee(s) or charge(s) that you may incur for incoming communications from us or outgoing communications to us, to or from any such number, or email address, without
reimbursement from
23. Credit Investigation and Reporting: You agree that we may investigate your credit connection with the initial extension, review, or collection of your Account. You agree that may examine employment
and income records, verify your references, and report credit reporting agencies, merchants, and other creditors the status and payment history of your Account. negative credit report may be submitted
to a credit reporting agency you fail to fulfill the terms of your credit obligations.
Please see Applicable Law (paragraphs 1 and 20) for the following disclosures:
Where Texas is the Applicable Law:
For questions or complaints about this Contract, contact Preferred Credit, Inc. at (800) 972-0825 or www.preferredcredit.com. The Office of Consumer Credit Commissioner (OCCC) is a state agency, and
it
enforces certain laws that apply to this Contract Ifa complaint or question cannot be resolved by contacting the creditor, consumer contact the OCCC ofile a complaint or ask a general credit-related question.
OCCC address: 2601 Lamar Blvd., Austin, Texas 78705. Phone: )538-1579. Fax: (512) 936-7610. Website: oocc.texas.gov. E-Mail: consumer.complaints@occc.texas.gov.
Where Ohio is the Applicable Law:
The Ohiolaws against discrimination require that all creditors make itequally available to all creditworthy customers, and that credit reporting agencies maintain separate credit histories on each individual
request. The Ohio Civil Rights Commission administers compliance with this law.
ARBITRATION PROVISION
This Arbitration Provision significantly affects your rights in any dispute with us. Please read this Arbitration Provision carefully before you sign it.
1.
EITHER
YOU
OR
WE
MAY
CHOOSE
TO
HAVE
ANY
DISPUTE
BE
TWEEN
US
DECIDED
BY
ARBITRATION
AND
NOT
IN
COURT.
2. A DISPUTE IS ARBITRATED, YOU AND WE WILL EACH GIVE UP OUR RIGHT TO A TRIAL BY THE COURT OR A JURY TRIAL.
3. IF A DISPUTE IS ARBITRATED, YOU WILL GIVE UP YOUR RIGHT TO PARTICIPATE AS A CLASS REPRESENTATIVE OR CLASS MEMBER ON ANY CLASS CLAIM YOU MAY HAVE
AGAINST US.
4. THE INFORMATION YOU AND WE MAY OBTAIN IN DISCOVERY FROM EACH OTHER IN ARBITRATION IS GENERALLY MORE LIMITED THAN LAWSUIT.
5. OTHER RIGHTS THAT YOU AND WE WOULD HAVE COURT MAY NOT BE AVAILABLE ARBITRATION.
Page4of
6. EVENIE DISPUTE ARBITRATED, CAN STILL REPOSSESS YOUR MERCHANDISE IF YOU DO NOT HONOR YOUR AGREEMENT AND YOU OR WE MAY SEEK PROVISIONAL
REMEDIES FROM A COURT.
Any claim or dispute, whether in contract, tort or otherwise (including the interpretation and scope of this clause and the arbitrability of any issue), between you and us or our employees, agents, successors or
assigns, which arises out of or relates in any manner to the purchase and financing of the merchandise under the Agreement or any resulting transaction or relationship (including any such relationship with
third parties who do not sign the Agreement) shall, at your or our election (or the election of any such third party), be resolved by neutral, binding arbitration and not by a court action. Any claim or dispute is to
be arbitrated on an individual basis and not as a class action, and you expressly waive any right you may have to arbitrate a class action (this is called the "class action waiver"). You may choose
the applicable rules of either the American Arbitration Association (1-800-778-7879), JAMS (800-352-5267) or any other nationally recognized arbitration organization, subject to our approval, and if the
arbitration organization selected by you is unwilling to serve, we shall select the arbitration organization. We waive the right to require you to arbitrate an individual (as opposed to a class) claim if the amount
you seek to recover, including attorneys' fees and expenses, is less than $7,500 or the maximum jurisdiction the venue of a state court providing for the resolution of small claims. You may obtain a copy of
the
rules of these organizations by calling the numbers indicated or by visiting their web sites.
The arbitrators shall be attorneys or retired judges and shall be selected in accordance with the applicable rules. The arbitration award shall be in writing, but without a supporting opinion. The arbitration hearing
shall be conducted in the federal district in which you reside. If you demand arbitration first, you will pay one half of any arbitration filing fee. We will pay the rest of the filing fee, and the whole filing fee if we
demand arbitration first or if the arbitrator determines that applicable law requires us to do SO or that you are unable to do SO or that we must do SO in order for this Arbitration Provision to be enforceable. We will
pay
the arbitration costs and fees for the first day of arbitration, up to a maximum of eight hours. We will also pay any fees and charges that the arbitrator determines that we must pay in order to
assure that this Arbitration Provision is enforceable. The arbitrator shall decide who shall pay any additional costs and fees.
The arbitrator's award shall be final and binding on all parties, except in the event where either there is a "take nothing" award or the award is in excess of $100,000 either party may request a new arbitration
under the rules of the arbitration organization by a three-arbitrator panel.
This Arbitration Provision relates to a contract that evidences a transaction involving interstate commerce. Any arbitration under this Arbitration Provision shall be governed by the Federal Arbitration Act (9
U.S.C. §§ 1 et seq.). If a court should determine that the transaction did not involve interstate commerce, the parties agree that this Arbitration Provision shall be governed by state law.
If any part of this Arbitration Provision other than the Class Action Waiver is found by a court or arbitrator to be unenforceable, the remainder shall be enforceable. This Arbitration Provision shall survive the
termination of any contractual agreement between you and us, whether by default or repayment in full.
You may elect to opt-out of the arbitration provision only by notifying us in writing at Preferred Credit, Inc., 628 Roosevelt Road, St. Cloud, MN 56301 within 30 days from the date in which you signed this
Agreement, and including in the notice your name, address and account number and a dear statement that you do not wish to resolve disputes through arbitration. No one else may sign the rejection notice
for you. Your rejection notice also must not be sent with any other correspondence. Rejection of arbitration will not affect your other rights or responsibilities under this Agreement. If you reject arbitration, neither
you we will be subject to the arbitration provisions for this Agreement Rejection of arbitration for this Agreement will not constitute rejection of any prior or future arbitration provision between you and us.
Your Billing Rights. Keep This Notice For Future Use. This notice contains important information about your rights and our responsibilities under the Fair Credit Billing Act.
What To Do If You Find A Mistake On Your Statement
you think there is an error on your statement, write to us at: Preferred Credit, Inc., 628 Roosevelt Road, St. Cloud, MN 56301.
In your letter, give us the following information:
Account information: Your name and account number.
Dollar amount The dollar amount of the suspected error.
Description of problem: If you think there is an error on your bill, describe what you believe is wrong and why you believe is a mistake.
You must contact us:
Within 60 days after the error appeared on your statement
At least 3 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. 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 Letter
When we receive your letter, we must do two things:
1.
Within 30 days of receiving your letter, we must you that we received your letter. We will also tell you if we have already corrected the error.
2.
Within 90 days of receiving your letter, we must either correct the error or explain to you why we believe the bill 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 the amount
The charge in question may remain on your statement, and we may continue to charge you interest on that amount
While you do not have to pay the amount in question, you are responsible for the remainder of your balance.
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.
fwe do not believe there was a mistake: You will have to pay the amount in question, along with the applicable interest and fees. 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 bill 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 bill. We must 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 bill is correct.
Your Rights If You Are Dissatisfied With Your Account Purchases:
If you are dissatisfied with the goods or services that you have purchased with your Account and you have tried in good faith to correct the problem with the merchant, you may have the right not to pay the
remaining amount due on the purchase.
To use this right, all of the following must be true:
1.
The purchase must have been made in your home state or within 100 miles of your current mailing address, and the purchase price must have been more than $50. (Note: Neither of these are
necessary if your purchase was based on an advertisement we mailed to you, or if we own the company that sold you the goods or services.)
2.
You must have used your Account for the purchase. Purchases made with cash advances from an ATM or with a check that accesses your account do not qualify.
3.
You must not yet have fully paid for the purchase.
If
all of the criteria above are met and you are still dissatisfied with the purchase, contact us in writing at: Preferred Credit, Inc., 628 Roosevelt Road, St. Cloud, MN 56301.
While we investigate, the same rules apply to the disputed amount as discussed above. After we finish our investigation, we will tell you our decision. At that point, if we think you owe an amount and you do not
pay, we may report you as delinquent.
Page 5of6
NOTICE: ANY HOLDER OF THIS CONSUMER CREDIT CONTRACT IS SUBJECT TO ALL CLAIMS AND DEFENSES WHICH THE DEBTOR COULD ASSERT AGAINST THE SELLER OF
GOODS OR SERVICES OBTAINED PURSUANT HERETO OR WITH THE PROCEEDS HEREOF. RECOVERY HEREUNDER BY THE DEBTOR SHALL NOT EXCEED AMOUNTS PAID BY
THE DEBTOR HEREUNDER.
REVISED 10-01-2019 PRINTED 00-00-2019
UR36-R
©
1990-2019Preferred Credit Inc. ALL RIGHTS RESERVED. Duplication of fthisdocument withoutthecopyrightowner'sprion written consentis strictly prohibited.
Page6of6