Important Consumer Information:
This brochure contains some common terms and definitions, which are intended to help you better understand your credit transaction.
Credit cost money, so it is important that you fully understand the terms of your credit transaction earlier person this one was on so it is important that you fully understand the terms of your credit transaction. If you come across terms you do not understand, look up the terms, or ask our personnel to explain the terms to you.
Ask questions. Make certain that your questions are answered. Make certain you understand the terms of the costs of your loan.
For Customer Service or to File a Complaint
Please Call 800-233-8572.
COMMON TERMS AND DEFINITIONS:
A federal regulation which requires lenders to promote the availability of credit to all creditworthy applicants without regard to race, color, religion, national origin, sex, marital status, or age (provided the applicant has the capacity to derives from a public assistance program; or to whether the applicant has in good faith exercise any right under the Consumer Credit Protection Act. The regulations prohibits creditor practices that discriminate on the basis of any of these factors.
A written binding document describing terms of an agreement between two or more persons. ( Keep all paperwork.) Later, if there are any questions, you will have your agreement in writing.)
Annual Percentage Rate ( APR):
The cost of your credit as a yearly rate. This measures the cost of credit expressed as a yearly interest rate. It is intended to provide a single value for a consumer to compare the cost of credit between one lender to another.
The dollar amount the credit will cost you. Finance charges include interest, and may also include transaction fees and service fees.
The amount of money owed on a debt, on which interest is calculated.
The cost of borrowing money, generally a percentage of the amount owed.
The total amount of money owed to a lender.
Failure to pay a debt as agreed to on a contract. When a loan is in default, The lender may demand full payment of the remaining debt.
Security pledge buy a bar were to protect interest of the lender; in case of default, The lender may take ownership of the security, if any, pledged by the borrower.
A private company that keeps a record of your credit history for distribution upon request by authorize parties. When do you apply for credit, the lender may request a credit report to review when considering your application.
A record containing information about you, including your payment history on previous debts.
A report of the credit history and other information about you that is kept by credit bureau’s, which may include: your name, your address, Social Security number, payment history ( good and bad), current and previous debts, employers, income, etc.
Accurate information on the credit report may not be legally removed. Incorrect information may be removed by disputing the information to the credit bureau involved.
If you have any questions, comments or concerns, please feel free to contact our corporate office at 800–233-8572.
This business is regulated by the Regulation and Licensing Department Financial Institution Division.
2550 Cerillos Rd
Santa Fe, New Mexico 87505