Terms of Service

1. Definitions

In these Terms of Service:

• "Company," "we," "us," or "our" refers to Loan Services and its affiliates.
• "Borrower," "you," or "your" refers to any individual or entity applying for or obtaining a loan through our services.
• "Loan Agreement" refers to the specific agreement governing your loan, including interest rates, repayment terms, and other conditions.
• "Services" refers to all loan products, website access, customer support, and related services provided by us.

2. Eligibility Requirements

To use our services, you must:

1. Be at least 18 years old (or the age of majority in your jurisdiction)
2. Be a legal resident of a jurisdiction where we operate
3. Have a valid government-issued identification
4. Have an active bank/gcash/maya account in your name
5. Provide accurate and complete information during the application process
6. Not be currently involved in bankruptcy proceedings

3. Loan Application and Approval Process

3.1 Application Submission

By submitting a loan application, you:

• Represent that all information provided is true, accurate, and complete
• Authorize us to verify the information through third-party sources
• Consent to credit checks and background verification
• Acknowledge that application does not guarantee loan approval

3.2 Loan Approval and Disbursement

Loan approval is subject to our underwriting criteria. If approved:

• Funds will be disbursed according to the method specified in your Loan Agreement
• Disbursement times may vary based on your bank and verification requirements
• You will receive a Loan Agreement detailing all terms and conditions

4. Interest Rates and Fees

All loans are subject to:

• Interest rates as specified in your Loan Agreement
• Possible origination fees, late payment fees, or other charges as outlined in your agreement
• Annual Percentage Rate (APR) that includes both interest and applicable fees
• State-specific regulations governing maximum interest rates and fees

5. Repayment Terms

5.1 Payment Schedule

You agree to repay your loan according to the payment schedule in your Loan Agreement, including:

• Principal amount
• Accrued interest
• Any applicable fees

5.2 Late Payments

If you fail to make a payment on time:

• Late fees may be assessed as specified in your Loan Agreement
• Your loan may be reported as delinquent to credit bureaus
• We may take collection actions as permitted by law
• Additional interest may accrue on the overdue amount

5.3 Prepayment

You may have the right to prepay your loan in full or in part. Any prepayment penalties will be clearly disclosed in your Loan Agreement.

6. Privacy and Data Security

We are committed to protecting your personal information. Our Privacy Policy explains how we collect, use, and safeguard your data. By using our services, you consent to our data practices as described in the Privacy Policy.

7. Electronic Communications

By using our services, you consent to receive electronic communications from us, including:

• Loan agreements and disclosures
• Account statements and payment reminders
• Marketing communications (you may opt-out at any time)
• Notices regarding changes to these terms or our services

8. Prohibited Activities

You agree not to:

1. Provide false or misleading information in your loan application
2. Use loan proceeds for illegal activities
3. Attempt to circumvent our underwriting or security systems
4. Transfer or sell your loan to another party without our written consent
5. Use automated systems to access our services without permission
6. Violate any applicable laws or regulations

9. Default and Collections

9.1 Events of Default

You will be in default if you:

• Fail to make a payment when due
• Provide false information in your application
• File for bankruptcy or become insolvent
• Violate any terms of your Loan Agreement

9.2 Collection Actions

In the event of default, we may:

• Report the default to credit bureaus
• Charge collection costs as permitted by law
• Engage third-party collection agencies
• Pursue legal remedies to collect the outstanding debt

10. Limitation of Liability

To the maximum extent permitted by law, Loan Services shall not be liable for:

• Indirect, incidental, consequential, or punitive damages
• Loss of profits, data, or business opportunities
• Damages resulting from delays in loan processing or disbursement
• Third-party actions or services

11. Changes to Terms

We reserve the right to modify these Terms of Service at any time. Changes will be effective upon posting to our website. Your continued use of our services after changes constitutes acceptance of the modified terms.

12. Governing Law and Dispute Resolution

These Terms of Service are governed by the laws of [Your State]. Any disputes shall be resolved through binding arbitration in accordance with the rules of the American Arbitration Association, rather than in court.

13. Contact Information

14. State-Specific Disclosures

Some states require specific disclosures for loan services. Please refer to your Loan Agreement for any state-specific terms that may apply to your loan.

15. Severability

If any provision of these Terms of Service is found to be unenforceable or invalid, the remaining provisions will remain in full force and effect.