Bits Revolving Retail Charge Agreement
This Revolving Charge Agreement (“Agreement”) governs your agreement with us regarding credit extended hereunder. Please read it carefully. By signing this Agreement, you are agreeing to all of the terms and conditions in this Agreement.
Definitions. In this Agreement, the words “you” and “your” mean each person who signs this Agreement. The words “we,” “us,” and “our” [Bits Card Inc] (“Bits”)and any assignees of this Agreement or our rights under this Agreement. The word “Account” means the revolving charge account established and governed by this Agreement. The word “Purchase” refers to a transaction made on your Account to purchase goods and services from us through the Bits online marketplace.
Promise To Pay. Each time you make a purchase with Bits, you are requesting that Bits advance money for your benefit and you agree to repay each such advance and all other obligations you incur in connection with your account by their respective due date. By accepting this Agreement and confirming the financing of any purchases through Bits, you give us the right to collect any unpaid portions of the financed purchase.
In the process of completing a transaction with Bits we may disclose specific terms and conditions applicable to that particular transaction or plan and the associated advance on your account. By completing the transaction, you accept and agree to any specific terms that are so disclosed. You understand that the actual amounts and due dates for your down payment and the following installment payments are supplementary to this agreement and determined within your Bits account.
‘Pay in 4’ Purchases. When you buy a product from the Bits website(s) (www.getbits.us, us.getbits.app, or us.getbits.app) you agree with us to borrow (and repay in up to four installments) the remaining balance for the product (after the down-payment has been paid), which we pay to the Merchant on your behalf.
In addition to any required down payment, you must make either three (3) or four (4) payments to us (installment payments). You are responsible for ensuring that you have sufficient funds available to make installment payments on the dates specified in your account.
Where a bank is used as your selected payment method, Bits will make electronic transfers from your bank account in the amount you specify. You agree that you grant authorization to Bits to make the transfers from any of your bank account(s), debit card(s) and/or credit card(s) to fulfill your down payment, or a missed or failed payment. You give Bits the right to resubmit any transaction you authorized that is returned for insufficient or uncollected funds or any other reason.
Account. Your Account is a revolving charge account that allows you to make Purchases from time to time on credit. You may make Purchases so long as you have available credit, are not in default under this Agreement, and we have not suspended or revoked your right to make additional Purchases. Purchases may be made only through the Bits online marketplace.
Credit Limit. Your Credit Limit is stated above. Any Purchases or other amounts added to the Account will reduce the amount of available credit by the amount of the Purchase or other amount. As you repay principal, your available credit will be restored to the extent of such repayment. Payments will not affect the credit available to you under the Account, however, until your payment has cleared and we have received funds from your bank. If we allow you to make Purchases that exceed your Credit Limit, you promise to repay the amount that exceeds your Credit Limit immediately upon demand. We reserve the right to reduce the Credit Limit or otherwise suspend or revoke your right to additional Purchases at any time or for any reason, to the extent not prohibited by applicable law. We may also, at our election, increase your Credit Limit at any time. You may request that we increase your Credit Limit, but we are not required to grant such a request. If you request to increase the Credit Limit, you agree that we may review your creditworthiness at the time of that request by, including, but not limited to, at our sole discretion obtaining a credit report and other information necessary to analyze your qualifications for additional credit. We may elect to honor a Purchase that causes you to exceed your Credit Limit without increasing the Credit Limit, or we may simply decline any transaction that would cause you to exceed the Credit Limit without taking further action. The Account may not be used, and will not be honored, for any transactions other than for Purchases made from Bits.
Finance Charges. We will not impose any finance charges on Purchases or other fees (except collection costs and expenses as set forth in this Agreement). Notwithstanding the immediately preceding sentence, you may only use the Bits marketplace if you pay the monthly fee to gain membership to the marketplace. This fee is imposed whether or not you enter into this Agreement or otherwise obtain credit from us. Because both cash and credit customers must pay the Bits membership fee, the monthly fee is charged separately and not to this Account.
Periodic Billing Statements. We will provide a periodic billing statement at the end of each billing cycle in which you have account activity or a credit or debit balance. The periodic billing statement will show your Account balance at the end of the billing cycle reflected in the statement (“New Balance”), your Payment Due and other Account information. Unless you notify us of a billing error as provided in “YOUR BILLING RIGHTS” below, you accept your periodic billing statement as an accurate statement of your Account.
Payment Due. For each billing cycle, you agree to pay the New Balance shown on your periodic billing statement by the indicated due date (“Payment Due Date”). Payment Requirements. Payments must be made in U.S. Dollars at the address reflected on your billing statement.
Notice About Electronic Check Conversion. When you authorize us by phone, in writing or by computer to make payment(s) on your account with us from your financial institution, we will also use information which you give us to make (an) electronic fund transfer(s) from the financial account you specify and in the amount(s) you request. When we use information which you give us to make an electronic fund transfer, funds may be withdrawn from your account as soon as the same day. If the payment fails, we may elect to electronically re-try the payment up to two more times.
Automatic Payments. Enrollment in automatic payments is optional. If you enroll in automatic payments by executing a separate Automatic Payment Plan agreement, you authorize us to initiate electronic fund transfers (EFTs) by debit entries drawn on the bank account, debit card, or credit card you identify in the Automatic Payment Plan agreement (or, if you change the account, such account after you notify us of the change) in the amount of the Payment Due (also, the New Balance) reflected on your billing statement. You have the right to receive notice of EFTs that vary in amount from prior EFTs and agree that the disclosure of the Payment Due in your billing statement satisfies this right. You may instruct us to process EFTs in amounts that differ from the Payment Due, but the change will not be effective until 3 business days from our receipt of your instruction to change the payment amount. EFTs will be processed on the Payment Due Date reflected in your statement. You agree that the account you identify for EFTs is legitimate, open, and active and that you are authorized to use the account. You also expressly agree to notify us promptly of any changes in information related to the account from which payments are debited, including, but not limited to, closing of the account and changes in account numbers. Once enrolled in the Automatic Payment Plan, we will process EFT transactions each month on the Payment Due Date in accordance with your authorization until you notify us that you wish to terminate the Automatic Payment Plan agreement or we elect to termination your enrollment in the Automatic Payment Plan. We may terminate your Automatic Payment Plan at any time and for any reason, including (but not limited to) your default. You may terminate your Automatic Payment Plan only by contacting us at the telephone number in your monthly statement. You agree to give us sufficient advance notice to allow us and your financial institution a reasonable opportunity to act on your request. You understand and agree that your financial institution may charge you fees in connection with your enrollment in the Automatic Payment Plan, and agree that we are not responsible for reimbursement or payment of any such fees. Participation in the Automatic Payment Plan is not required to continue using your Account. You may elect to cancel your enrollment in the Automatic Payment Plan at any time.
Application of Payments. We will apply your payments as required by law, and if applicable law does not specify any requirements we may apply the payments in any order we choose. Default. You will be in default of this Agreement if you do not make a Payment Due on your Account on or before the Payment Due Date (except that if Wisconsin law applies, you will be in default only after failing to make such payments on two occasions within any 12 month period) or if our prospect of payment or performance is significantly impaired. Significant impairment may occur, but is not limited to, when: (a) You make any false or misleading representation or warranty to us; (b) You begin, or if any other person puts you in, a bankruptcy, insolvency or receivership proceeding; or (c) You die.
Our Rights in the Event of Default. If you are in default under this Agreement, after providing any notices and right to cure required by applicable law, we may, at our option and as permitted by law do any one or more of the following: (i) declare your entire Account balance immediately due and payable and proceed to collect it (except in Ohio, where we will not declare the entire Account balance immediately due and payable until you have been in default for at least 30 days); (ii) close your Account, or suspend or revoke your ability to make additional Purchases under the Account ;(iii) except as may be prohibited by applicable law, recover from you all charges, costs and expenses, including all court costs, collection costs and reasonable attorney’s fees (when the Account is referred for collection to attorneys who are not our salaried employees) incurred or paid by us in exercising any right, power or remedy provided by law or this Agreement; (iv) reduce your Credit Limit; and (v) exercise all other rights, powers, and remedies given by law.
Cancellation. You may cancel your Account at any time by notifying us in writing that you wish for your Account to be closed and by paying us the entire balance in full. At our sole discretion with or without cause, we may suspend your ability to make Purchases with your Account or close your Account.
Credit Investigation and Information. You authorize us to request and review your credit history by obtaining information from credit reporting agencies and others, including but not limited to your employer, at our discretion through the life of this Account.
Credit Reporting. You agree that we may obtain information about you from third parties, including, but not limited to, consumer reporting agencies at any time while your Account is open. We may report information about your Account to credit bureaus. Late payments, missed payments, or other defaults on your Account may be reflected in your credit report.
Amendments. You agree that we may change any of the terms of this Agreement, to limitations and/or notices imposed or required by law.
Consent to Receive Electronic Disclosures. If at the time of opening your Account you agreed to receive electronic notices and disclosures in connection with your Account, we will send notices and disclosures (including billing statements) to the location (such as an electronic mail address) you provided. You agree to promptly notify us of any changes that would affect your ability to receive electronic communications at this location, including any changes to your electronic mail address or access to the electronic mail address you identified.
Communication about this Account. We may contact you from time to time regarding your Account. We may contact you in any manner we choose unless the law says that we cannot. For example, except as prohibited by applicable law, we may: (1) contact you by mail, telephone, email, fax, recorded message, text message or personal visit; (2) contact you using an automated dialing or similar device that may or may not leave a prerecorded message (“Autodialer”); (3) contact you at your home and at your place of employment; (4) if you give us a mobile telephone number, contact you on your mobile telephone; (5) unless you have told us that certain times or days of the week are inconvenient, contact you at any time, including weekends and holidays; (6) attempt to reach you with any frequency; (7) leave prerecorded and other messages on your answering machine/service; and (8) identify ourselves and our purpose for contacting you in a voice or written message, even if others might hear or read it. Our contacts with you about your Account are not unsolicited and might result from information we obtain from you or others. We may monitor or record any conversation or other communication with you. When you give us or we obtain your mobile telephone number, we may contact you at this number using an Autodialer and can also leave prerecorded and other messages. We may do these things whether we contact you, or you contact us. If you ask us to discuss your Account with someone else, you must provide us with documents that we ask for and that are acceptable to us.
These Site Terms define the relationship between Bits Card, Inc, a Delaware corporation doing business as Bits, and its affiliates and subsidiaries (“Bits”, “we”, “our” or “us”), and you, the person registering for or using our Services (“customer”, “you” or “your”). You may use these Services (as defined below) only if you reside in a U.S. state in which the Services are provided, are age 18 or older, can form a binding contract with us, and are not a person prohibited from receiving Services under the laws of the United State or other applicable jurisdiction. If you cannot confirm the foregoing, then you may not agree to these Site Terms and may not use the Services. You may use the Services only in compliance with these Site Terms and all applicable laws and regulations.
Notice of Change in Contact Information. You agree to promptly notify us of any change in your contact information, including the address and phone number listed at the top of this Agreement, and any electronic mail addresses provided to us for purposes of communicating with you regarding this Account. You agree to notify us by writing at firstname.lastname@example.org.
General. You agree that if we grant any waiver, modification or other indulgence of any kind at any time, it shall apply only to the specific instance involved and will not act as a waiver, modification or indulgence for any other or future act, event or condition. We may delay enforcing any of our rights under this Agreement without losing them in accordance with applicable law. Time is of the essence of this Agreement. You may not assign this Agreement without our prior written consent. We may assign this Agreement or any rights to payment under the Agreement without your consent. This Agreement constitutes the entire Agreement between the parties and no other agreements, representations or warranties other than those stated herein shall be binding unless reduced to writing and signed by all parties.
Electronic Signatures. If you elect to sign this Agreement electronically, you intend (i) your signature to be an electronic signature under federal and state law; (ii) any printout of our electronic record of this Agreement and related notices to be an original document; and (iii) to conduct business with us by electronic records and electronic signatures.
Governing Law. This Agreement (except for the “Arbitration” section below) will be governed by federal law and the law of the state of Customer’s address, as set forth on the first page of this Agreement. The “Arbitration” section below is governed solely by federal law, including the Federal Arbitration Act. If there is any conflict between any of the terms and conditions of this Agreement and applicable law, this Agreement will be considered changed to the extent necessary to comply with the law (except as otherwise provided in the “Arbitration” section below). The other provisions of this Agreement shall not be affected (except as otherwise provided in the “Arbitration” section below).
COVERED BORROWER SAVINGS CLAUSE: The provisions of this paragraph apply only if and for long as you are a “Covered Borrower” as that term is defined by 32 CFR Section 232.3(g). If any provision not identified herein is contrary to the rights and protections afforded to you by Federal law pursuant to 10 USC Section 987 and its implementing regulations, including but not limited to 32 CFR Section 232.8, then the conflicting provisions or proscribed terms are inoperative, and shall have no force and effect. However, all remaining contract terms and provisions not proscribed or prohibited shall remain in full force and effect.
NOTICE TO ACTIVE DUTY SERVICEMEMBERS AND DEPENDENTS: Federal law provides important protections to members of the Armed Forces and their dependents relating to extensions of consumer credit. In general, the cost of consumer credit to a member of the Armed Forces and his or her dependent may not exceed an annual percentage rate of 36 percent. This rate must include, as applicable to the credit transaction or account: The costs associated with credit insurance premiums; fees for ancillary products sold in connection with the credit transaction; any application fee charged (other than certain application fees for specified credit transactions or accounts); and any participation fee charged (other than certain participation fees for a credit card account ). You may call us at 1 646-396-0419 for a disclosure of (i) a statement of the Military Annual Percentage Rate, and (ii) your payment obligations (payment schedule) applicable to this loan.
ARBITRATION. This Arbitration Clause does not apply to you if and for as long as you are a “Covered Borrower,” as that term is defined in 32 CFR Section 232.3(g).
The following arbitration provisions apply to disputes that may arise under this Agreement.
AT ANY TIME EITHER YOU OR WE MAY CHOOSE TO HAVE ANY DISPUTE BETWEEN US DECIDED BY ARBITRATION. NEITHER YOU NOR WE ARE REQUIRED TO ARBITRATE CLAIMS, BUT IF EITHER OF US CHOOSES TO HAVE A DISPUTE DECIDED BY ARBITRATION, ARBITRATION WILL BE MANDATORY FOR BOTH PARTIES.
IN ARBITRATION, YOU AND WE EACH GIVE UP OUR RIGHT TO A COURT OR JURY TRIAL.
IN ARBITRATION, YOU GIVE UP YOUR RIGHT TO ACT AS A CLASS REPRESENTATIVE OR A CLASS MEMBER ON ANY CLASS CLAIM YOU MAY HAVE AGAINST US. THIS INCLUDES ANY RIGHT TO CLASS ARBITRATION OR ANY CONSOLIDATION OF INDIVIDUAL ARBITRATIONS.
THE INFORMATION PARTIES MAY OBTAIN IN DISCOVERY FROM EACH OTHER IN ARBITRATION IS GENERALLY MORE LIMITED THAN IN A LAWSUIT.
OTHER RIGHTS AVAILABLE IN A COURT MAY NOT BE AVAILABLE IN ARBITRATION.
RIGHTS TO APPEAL OR CHANGE AN ARBITRATION AWARD IN COURT ARE VERY LIMITED.
A “dispute” is any claim or dispute, in contract, tort or otherwise, arising between you and us. “Dispute” includes disputes that arise from or relate to this Agreement, or relationships that result from this Agreement (including relationships with third parties who do not sign this Agreement).
“Dispute” includes claims or disputes arising before, during and after the transactions evidenced by this Agreement. “Dispute” includes disputes unrelated to this Agreement. “Dispute” shall have the broadest possible meaning.
“We,” “us,” “our” and “third party” include Bits and any assignees of Bits’ rights or obligations under this Agreement, and all affiliates, parents and subsidiaries of these parties and all their employees, agents, or assigns.
When you, a third party, or we request arbitration, the dispute will be resolved by neutral, binding arbitration under the Federal Arbitration Act and not by a court. Any dispute is to be arbitrated on an individual basis and not as a class action. You expressly waive your right to arbitrate a class action, including your right to class relief in arbitration. This is referred to below as “the Class Action Waiver”.
You may choose the American Arbitration Association (800-778-7879, www.adr.org) or, with our approval, any other arbitration organization as the administrator. The administrator will apply its relevant current rules. You may obtain a copy of the rules or additional information about arbitration by contacting the applicable arbitration organization or visiting its website. If you elect to arbitrate, you agree to notify us of your election in writing and to initiate arbitration in the manner set forth in the arbitration organization’s rules.
The arbitration hearing shall be conducted in the federal district where you reside. The arbitrator shall be an attorney or retired judge and must be selected according to the rules of the applicable arbitration organization. The arbitrator shall apply governing law.
The arbitrator shall award damages or other relief permitted by applicable law. The arbitrator shall prepare a written decision stating reasoned findings of fact and conclusions of law.
When you request arbitration, you agree to pay a filing fee not to exceed the amount it would cost to file a lawsuit in small claims court. We will pay the rest of the filing fee, and the whole filing fee when we request arbitration first or when the arbitrator determines that applicable law or the rules of the arbitration organization require us to do so.
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 or advance any additional fees for the first day of arbitration, up to a maximum of eight hours. We will pay or advance any additional fees and charges that the arbitrator determines we must pay or advance in order to assure that this arbitration clause is enforceable. The arbitrator shall decide who shall pay any additional costs and fees, and, if we advance any fees or charges, shall decide who must finally pay those advanced amounts.
The arbitrator’s award shall be final and binding on all parties, except that the losing party may request new arbitration under the rules of the arbitration organization by a three-arbitrator panel. Unless prohibited by law, the appealing party shall pay all costs imposed by the administrators upon both parties on appeal, unless the arbitrator decides otherwise.
Neither you nor we waive the right to arbitrate by exercising self-help remedies, filing suit, or seeking or obtaining provisional remedies from a court. You and we retain the right to seek remedies in small claims court for disputes or claims within that court’s jurisdiction, unless such action is transferred, removed or appealed to a different court. A party may enter judgment on the award in any court of jurisdiction.
You acknowledge that the transaction(s) between you and us involve interstate commerce. The Federal Arbitration Act shall govern this arbitration clause and any arbitration under this arbitration clause.
If you do not want this arbitration clause to apply to this transaction, you may send us a written notice to that effect, return receipt requested, within 10 business days of the date you sign this Agreement to this address:
368 9th Avenue
If a court or arbitrator limits or voids the Class Action Waiver, this entire arbitration clause (except for this sentence) shall be null and void. If any part of this arbitration clause other than the Class Action Waiver is deemed or found unenforceable for any reason, the rest of the arbitration clause remains enforceable. This arbitration clause survives payment in full of the obligations incurred under this Agreement and survives discharge in bankruptcy.
a. Maryland Residents: This Account is governed by Subtitle 9, Title 12 of the Maryland Commercial Law Article.
b. Ohio Residents: The Ohio laws against discrimination require that all creditors make credit equally available to all creditworthy customers and that credit reporting agencies maintain separate credit histories on each individual upon request. The Ohio Civil Rights Commission administers compliance with this law.
c. For South Dakota Residents:
If there are any improprieties in the making of this loan or in any loan practices, please refer to the South Dakota Division of Banking: South Dakota Division of Banking 1601 N. Harrison Ave, Suite 1, Pierre, South Dakota 57501; (605) 773-3421.
d. For Iowa and Kansas Residents:
NOTICE TO CONSUMER:
Do not sign this Agreement before you read it.
You are entitled to a copy of this Agreement.
You may prepay the unpaid balance at any time without penalty.
e. For Rhode Island Residents:
This is a non-negotiable consumer note.
No late fees shall apply to Rhode Island state residents. Pursuant to RI Gen L § 19-14.2-13, every licensee who is the holder of any small loan note shall deliver to the borrower, at the time any small loan is made, a statement of the law regarding interest rate and term limitations, in plain English, showing in clear and distinct terms the amount and date of the loan and of its maturity, the nature of the security, if any, for the loan, the name and address of the borrower and of the licensee, and the agreed rate of interest. You should refer to the relevant sections of this Agreement and your Final Payment schedule for this information.
f. For Utah Residents:
This Agreement is the final expression of the agreement between you and us, and it may not be contradicted by evidence of an alleged oral agreement.
g. For Wisconsin Residents:
If you are a married Wisconsin resident: (1) You confirm that this loan obligation is being incurred in the interest of your marriage or family. (2) No provision of any marital property agreement, unilateral agreement, or court decree under Wisconsin’s Marital Property Act will adversely affect a creditor’s interest unless prior to the time that the loan is approved, the creditor is furnished with a copy of the marital property agreement, statement, or decree or has actual knowledge of the adverse provision. (3) You confirm your spouse has actual knowledge that this credit is being extended to you and has waived the requirements of Wisconsin Statute § 766.56(3)(b), you agree to advise us if you have a spouse who needs to receive notification of this extension of credit, and you understand and agree that we may provide a copy of this Agreement to your spouse.
h. For Iowa / Maine / Missouri / Utah Residents:
Oral agreements or commitments to loan money, extend credit or to forbear from enforcing repayment of a debt, including promises to extend or renew such debt, are not enforceable. To protect you (borrower(s)) and us (creditor) from misunderstanding or disappointment, any agreements we reach covering such matters are contained in this writing and the terms dictated in the chosen plan upon purchase.
i. For North Dakota Residents:
NOTICE: MONEY BROKERS ARE LICENSED AND REGULATED BY THE DEPARTMENT OF FINANCIAL INSTITUTIONS, 2000 SCHAFER STREET, SUITE G, BISMARCK, NORTH DAKOTA 58501-1204. THE DEPARTMENT OF FINANCIAL INSTITUTIONS HAS NOT PASSED ON THE MERITS OF THE CONTRACT AND LICENSING DOES NOT CONSTITUTE AN APPROVAL OF THE TERMS OR OF THE BROKER'S ABILITY TO ARRANGE ANY LOAN. COMPLAINTS REGARDING THE SERVICES OF MONEY BROKERS SHOULD BE DIRECTED TO THE DEPARTMENT OF FINANCIAL INSTITUTIONS.
j. For Georgia Residents:
NOTICE TO CONSUMER
Do not sign this agreement if it contains any blank spaces.
You are entitled to an exact copy of all papers you signed.
You have the right at any time to pay in advance the full amount due under this agreement and under certain conditions to obtain a partial refund of the interest charges.
If credit life insurance is required, you have the right to purchase either level term life insurance or reducing term life insurance coverage.
You are not required to purchase noncredit insurance as a condition of obtaining this loan.
The creditor shall furnish the consumer with an exact copy of the loan contract including any loan voucher, itemized statement of loan charges, and disclosure statement after the agreement has been signed. Please print this agreement if you would like an exact copy.
With respect to every installment loan transaction, the creditor shall, at the time of the transaction, furnish to the consumer a written statement of the maximum number of payments required, the amount of such payments, and the exact due dates upon which each payment is due. The maximum number of payments and the amount and date of such payments need not be separately listed if the payments are stated in terms of a series of scheduled amounts. Ga. Comp. R. & Regs. 80-14-5-.01
k. For Maryland Residents:
This loan is made pursuant to the Credit Grantor Closed-end Credit Provisions of Title 12, Subtitle 1 of the Maryland Commercial Law Article (Md. Code Ann., Com. Law § 12-1001 et seq.).
i. For Oklahoma Residents:
You should refer to the relevant sections of this Agreement for information about nonpayment and default.
YOUR BILLING RIGHTS: KEEP THIS DOCUMENT FOR FUTURE USE
This notice tells you about your rights and our responsibilities under the Fair Credit Billing Act.
What To Do If You Find A Mistake On Your Statement
If you think there is an error on your statement, write to us at email@example.com.
In your email, 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 it 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 Email
When we receive your letter, we must do two things:
1. Within 30 days of receiving your email, we must tell you that we received your email. We will also tell you if we have already corrected the error.
2. Within 90 days of receiving your email, we must either correct the error or explain to you why we think 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 that 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 do not believe there was a mistake: You will have to pay the amount in question, along with 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 tell 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.
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. CAUTION -- IT IS IMPORTANT THAT YOU THOROUGHLY READ THE AGREEMENT BEFORE YOU SIGN IT. NOTICE TO BUYER – DO NOT SIGN THIS AGREEMENT BEFORE YOU READ IT OR IF IT CONTAINS BLANK SPACES. YOU ARE ENTITLED TO AN EXACT COPY OF THE AGREEMENT YOU SIGN. YOU HAVE A RIGHT TO PAY IN ADVANCE THE FULL AMOUNT DUE.
By providing your e-signature, you acknowledge your understanding of the terms of this Agreement, including your rights with respect to any disputes you have with us. To the extent that more than one person signs this Agreement, you agree to be jointly and severally liable for payment of Account balances and compliance with this Agreement, and that we may enforce this Agreement against one or both of you. By signing, you agree to the terms of and acknowledge receipt of a completed copy of this Agreement, which includes an arbitration provision.