My hubby put in a loan application to them to and they said the exact same to him that they needed more money and when he said he could not then they said well the people up higher did not approve his application and that they would return the money back to him in 10 to 15 days.
Here are the names in the process of him trying to get the loan and then nothing is done.
Michael Lown: President
Rachael Eliot: Chief Executive Officer
Susan Lawrence: Sr. Financial Accounts
Phillip Jackson: loan officer
Here is the fax that they sentFax
To: Phillip Jackson From:
Fax: 877-565-5272 Pages: 6 (Including fax cover sheet)
Phone: Date: 06/07/06
Re: LOAN ACCEPTANCE CC:
Urgent For Review Please Comment Please Reply Please Recycle
l Comments:
Acceptance of loan.
INSPIRE FINANCIAL SERVICES
1404 Edgewater Dr
Orlando FL 32804
www.inspirefinancialservices.com
Loan Agreement & Cost of Borrowing Disclosure Statement
We are pleased to inform you that your application for a fixed rate loan has been approved. This Statement sets out the amount of money we are lending you, the cost of borrowing it and the terms and conditions of the Loan. We are required to provide this information at the same time that you sign your Promissory Note. Please note that your loan is payable on the 30th of each month. However, until payment is made, we will permit you to make installment payments as set out below. Your signature on this Statement shows that you have received it. Your personal banker will request a signed copy of this Statement when you sign your Promissory Note.
Please keep a copy of this Statement to refer to later. Www.inspirefinancialservices.com %
In this Statement, we, us and our means Inspire Financial Services; and you and your means the borrowers who sign this Statement and the guarantors and covenanters, if any, who sign this Statement; and Loan means the loan to be advanced pursuant to the Promissory Note you will sign together with this Statement.
Client's Name
Principal amount borrowed
$5,000.00 this is the amount of your Loan.
Cost of borrowing $5,858.40 total amount payable with interest
Your cost of borrowing is the interest payable during the term, plus some of the fees charged by us.
Here is how we calculate the cost of borrowing:
$5,000.00 Interest over the term, based on the present interest rate of 7.5% per year, calculated monthly
Total cost of borrowing $5,858.40
INSPIRE FINANCIAL SERVICES
1404 Edgewater Dr
Orlando FL 32804
www.inspirefinancialservices.com Thank you for choosing Inspire Financial Services to act on your behalf in finding an appropriate solution for you and your family. At Inspire Financial Services we are committed to helping our thousands of customers achieve their financial goals since 1980. Our Vision is to win customer loyalty through our excellent service and our knowledge oriented staff.
This document verifies that Hebron Harper will receive a Personal Loan of $5,000.00 once the 25% collateral payment of $1,250.00 to secure the loan of the 24 month term, which is a 2 year term. Once Hebron Harper pays the 25% collateral payment of $1,250.00 of the 24-month term, the 25% will be applied to the total payback of $5,858.40 after 6 months of consecutive payments. Hebron Harper will be responsible for the remaining $4,608.40 all payments will be made to Inspire Financial Services. Policy
Loan Term
Interest Rate
Total Amount Payable
Monthly Payment
Collateral Payment
24 months, 2 years
7.5%
$5,858.40
$192.01
$1,250.00
The final processing of your loan from this point will take approximately 2-4 business days results vary.in order to make this process as smooth and easy as possible please read the following choices and indicate your preference.
Your funds will be allocated to you in one of the following two ways.
Fed-x, or via courier 48-72 hrs
Direct deposit into your account, 24 - 48 hours.
Via Courier, please fill out the following information (for accuracy please print clearly).
Name: (Mr. / Mrs. / Ms.)
Address:
Home Telephone
Number:%
Work Telephone Number:
Direct Deposit; please fill out the following information (for accuracy please print clearly).
Bank Name: Union%
Bank Address:
Bank Telephone Number:
Bank Transit Number:
Bank Routing Number:
Account Number:
Type of Account (checking/savings):
INSPIRE FINANCIAL SERVICES
1404 Edgewater Dr
Orlando FL 32804
www.inspirefinancialservices.com Regular Loan Payment Amount
Monthly / Semi
Monthly / Bi-weekly
Weekly payment
Amount
Total payments
Loan in default
$192.01 monthly principal, interest and Loan Protector insurance cost per payment. This is your regular loan payment amount.
The total amount of all payments of principal and interest for the term, based on the interest rate is 7.5%. The total amount of all payments includes your total insurance cost for the term.
Payment Schedule
Monthly: every month on the 30th of each month.
If a payment is due on a Saturday, Sunday or other non-business day, your payment will be processed on the next following business day and interest will continue to accrue.
Calling the loan and charges
Where we have agreed to accept installment payments on your loan, the phrase loan in default includes when you are late making a regular Loan payment, when you do not make a scheduled payment, or if you fail to observe any of the terms or conditions of the Loan Contract. Where we have demanded repayment in full of the Loan, the term loan in default means that you have not repaid to us all amounts owing on demand.
If a regularly scheduled Loan payment is late over 150 days, or if we demand repayment of your Loan, you owe interest for each day you are late you pay interest on both the principal and the interest portion of the payment that is late (if date is set for payment on demand). When we receive a payment, we will deduct the interest owing on the principal amount first, before any part of the payment is applied to reducing the principal amount. We may also decide to apply the late payment to other amounts you may owe, however until demand is made you will pay monthly installments.
INSPIRE FINANCIAL SERVICES
1404 Edgewater Dr
Orlando FL 32804
www.inspirefinancialservices.com Charges
NSF payment
Prepayments
Transfers
If your Loan is in default for any reason, you will have to pay any or all of these amounts:
The missed Loan payment
Interest on the principal and interest amount of the missed Loan payment, as described in this section.
Any reasonable costs, including legal fees that we incur to collect or attempt to collect the amount owing.
Any amount charged to you according to the Loan Contract.
The fixed interest rate charged to you according to the Loan Contract.
If a financial institution returns the cheque or refuses the pre-authorized debit you used to make a Loan payment, we will charge you the amount of any fee imposed on us by that financial institution.
How loans can be paid off early
When we lend you money, we expect you to pay it back on demand, or, as long as we permit, according to the payment schedule in this Statement. You may however pay off all or part of your Loan early. If all Loan payments are up to date, you can pay off some or the entire principal amount owing at any time. When you make a prepayment on your Loan, all interest owing up to and including the date of prepayment must also be paid immediately.
Assignment
You cannot transfer your rights under this Statement to a third party. You acknowledge that we may transfer our
Rights in your promissory note to a third party. You agree that we may give any information relating to your Loan application, Promissory Note or this Statement, including your financial information to a proposed transferee.
Cancellation
We may withdraw this statement and refuse to lend you money if you do not meet the criteria set by Inspire Financial Services to borrow money.
INSPIRE FINANCIAL SERVICES
1404 Edgewater Dr
Orlando FL 32804
www.inspirefinancialservices.com
Inspire Financial Services, loan coverage was introduced into the financial loan industry as a method to protect the lender (s) from the occurrence of default upon the loan agreement. This safeguard against loan default protects the lender in the event that the loan recipient forfeits on the Conditions of the Agreement. The loan recipient is protected from specified/uncertainties that may prohibit the appropriate payment of the loan as specified in the loan agreement. Has significantly altered the way loans can be granted and somewhat leveled the playing field in terms of following increased opportunities for individuals to compete effectively in today's national and global economy. This information is to inform you that all funds are 100% guarantee once we receive signed documents along with collateral payment.
Guarantee
This document verifies that Hebron Harper has been granted a loan through Inspire Financial Services of $5,000.00 for a 2 year term at a payment of $192.01USD per month, amortized at a fixed interest rate of 7.5%. The 25% collateral Payment of $1,250.00 is deducted from your total payback of $5,858.40
On behalf of Inspire Financial Services., I would like to take this opportunity to welcome you as the newest client to the family. Our service consultants will be responsible for handling all aspects of your account with us once your loan requirements have been satisfied. Again thank you for your valued business.
I have read and understood the agreement with all the conditions pertaining to the terms and fees.
Date:
X% X%
Client's Name Client's Name
Borrower Co-Borrower
Date: June 23 Date:
X% X%
Borrower's Signature Co-Borrower's Signature
Date: % Date:
(M/D/Y) (M/D/Y)
Sincerely,
Michael Lown President
Rachael Eliot Chief Executive Officer
Susan Lawrence
Sr. Financial Accounts Mng
*Please Retain This Document for Your Records*.
Registered trade-mark of Inspire Financial Services.
Trade-mark of Inspire Financial Services.
0 comments