Common use of GENERAL PAYMENT DEFERMENT POLICY Clause in Contracts

GENERAL PAYMENT DEFERMENT POLICY. In addition to its Loss Mitigation Program, LBAC may defer certain payments under the following conditions and circumstances. o LBAC may grant a payment deferment provided that the deferment period does not exceed 1 month (2 months if 12 or more payments have been made and if the deferment is granted in writing by the President, or an Executive Vice President, or the National Collections Manager, or a Regional Manager). o Not more than 1 deferment event (which may consist of a 2 month deferment according to the exceptions included in the policy) may be granted during any 12-month period. o The aggregate of all deferment periods during the term of a Receivable may not exceed the lesser of 8 months or 50% of the weighted average life of the original term of the Receivable (including deferments granted both before and after the related Cutoff Date). o At least 6 payments must be made before a deferment may be granted. o A request for a deferment must be made in writing. o The deferment must bring the account current, so that after the deferment is processed no payment is then due. o Except as otherwise set forth in this policy, deferments must be granted in writing by the Collection Manager or someone of equal or higher rank. o A deferment fee will be collected for each deferment if allowed by applicable law and may be waived or deferred only by the President, or an Executive Vice President, or the National Collections Manager, or a Regional Manager; provided, however, that no deferment will be granted unless LBAC believes in good faith that the account probably would default in the reasonably foreseeable future if a deferment is not approved. o Deferments which do not meet the above criteria may be granted in writing on an exception basis (e.g., when required by law) by the President, or an Executive Vice President, or the National Collections Manager, or a Regional Manager. o As of February 1, 2004, and the first day of each calendar quarter thereafter, the aggregate number of Receivables the terms of which have been extended during the preceding calendar quarter shall not exceed 4% of the number of Receivables at the beginning of the preceding calendar quarter. o No deferment may extend the date for final payment of a Receivable beyond the last day of the record Collection Period preceding the Class A-2 Final Scheduled Payment Date.

GENERAL PAYMENT DEFERMENT POLICY. In addition to its Loss Mitigation Program, LBAC may defer certain payments under the following conditions and circumstances. o LBAC may grant a payment deferment provided that the deferment period does not exceed 1 month (2 months if 12 or more payments have been made and if the deferment is granted in writing by the President, or an Executive Vice President, or the National Collections Manager, or a Regional Manager). o Not more than 1 deferment event (which may consist of a 2 month deferment according to the exceptions included in the policy) may be granted during any 12-month period. o The aggregate of all deferment periods during the term of a Receivable may not exceed the lesser of 8 months or 50% of the weighted average life of the original term of the Receivable (including deferments granted both before and after the related Cutoff Date). o At least 6 payments must be made before a deferment may be granted. o A request for a deferment must be made in writing. o The deferment must bring the account current, so that after the deferment is processed no payment is then due. o Except as otherwise set forth in this policy, deferments must be granted in writing by the Collection Manager or someone of equal or higher rank. o A deferment fee will be collected for each deferment if allowed by applicable law and may be waived or deferred only by the President, or an Executive Vice President, or the National Collections Manager, or a Regional Manager; provided, however, that no deferment will be granted unless LBAC believes in good faith that the account probably would default in the reasonably foreseeable future if a deferment is not approved. o Deferments which do not meet the above criteria may be granted in writing on an exception basis (e.g., when required by law) by the President, or an Executive Vice President, or the National Collections Manager, or a Regional Manager. o As of February April 1, 20042005, and the first day of each calendar quarter thereafter, the aggregate number of Receivables the terms of which have been extended during the preceding calendar quarter shall not exceed 4% of the number of Receivables at the beginning of the preceding calendar quarter. o No deferment may extend the date for final payment of a Receivable beyond the last day of the record Collection Period preceding the Class A-2 A-4 Final Scheduled Payment Date. DUE DATE CHANGE POLICY In addition to its Payment Deferment Policy, LBAC may grant due date changes under the following conditions and circumstances. o LBAC may grant a due date change, provided that the new due date is within 20 days of the current due date. o Not more than 2 due date changes may be granted over the term of a Receivable. o If 2 due date changes are granted, the total number of days by which the maturity date is extended may not exceed 20.

GENERAL PAYMENT DEFERMENT POLICY. In addition to its Loss Mitigation Program, LBAC may defer certain payments under the following conditions and circumstances. o · LBAC may grant a payment deferment provided that the deferment period does not exceed 1 month (2 months if 12 or more payments have been made and if the deferment is granted in writing by the President, or an Executive Vice President, or the National Collections Manager, President or a Regional Manager). o · Not more than 1 deferment event (which may consist of a 2 month deferment according to the exceptions included in the policy) may be granted during any 12-month period. o · The aggregate of all deferment periods during the term of a Receivable may not exceed the lesser of 8 months or 50% of the weighted average life of the original term of the Receivable (including deferments granted both before and after the related Cutoff Date). o · At least 6 payments must be made before a deferment may be granted. o · A request for a deferment must be made in writing. o · The deferment must bring the account current, so that after the deferment is processed no payment is then due. o · Except as otherwise set forth in this policy, deferments must be granted in writing by the Collection Manager or someone of equal or higher rank. o A deferment fee will be collected for each deferment if allowed by applicable law and may be waived or deferred only by the President, or an Executive Vice President, or the National Collections Manager, or a Regional Manager; provided, however, that no deferment will be granted unless LBAC believes in good faith that the account probably would default in the reasonably foreseeable future if a deferment is not approved. o · Deferments which do not meet the above criteria may be granted in writing on an exception basis (e.g., when required by law) by the President, President or an Executive Vice President, or the National Collections Manager, or a Regional Manager. o · As of February July 1, 20042007, and the first day of each calendar quarter thereafter, the aggregate number of Receivables the terms of which have been extended during the preceding calendar quarter shall not exceed 4% of the number of Receivables at the beginning of the preceding calendar quarter. o · No deferment may extend the date for final payment of a Receivable beyond the last day of the record Collection Period preceding the Class A-2 A-4 Final Scheduled Payment Date.

GENERAL PAYMENT DEFERMENT POLICY. In addition to its Loss Mitigation Program, LBAC may defer certain payments under the following conditions and circumstances. o LBAC may grant a payment deferment provided that the deferment period does not exceed 1 month (2 months if 12 or more payments have been made and if the deferment is granted in writing by the President, or an Executive Vice President, or the National Collections Manager, or a Regional Manager). o Not more than 1 deferment event (which may consist of a 2 month deferment according to the exceptions included in the policy) may be granted during any 12-month period. o The aggregate of all deferment periods during the term of a Receivable may not exceed the lesser of 8 months or 50% of the weighted average life of the original term of the Receivable (including deferments granted both before and after the related Cutoff Date). o At least 6 payments must be made before a deferment may be granted. o A request for a deferment must be made in writing. o The deferment must bring the account current, so that after the deferment is processed no payment is then due. o Except as otherwise set forth in this policy, deferments must be granted in writing by the Collection Manager or someone of equal or higher rank. o A deferment fee will be collected for each deferment if allowed by applicable law and may be waived or deferred only by the President, or an Executive Vice President, or the National Collections Manager, or a Regional Manager; provided, however, that no deferment will be granted unless LBAC believes in good faith that the account probably would default in the reasonably foreseeable future if a deferment is not approved. o Deferments which do not meet the above criteria may be granted in writing on an exception basis (e.g., when required by law) by the President, or an Executive Vice President, or the National Collections Manager, or a Regional Manager. o As of February October 1, 20042005, and the first day of each calendar quarter thereafter, the aggregate number of Receivables the terms of which have been extended during the preceding calendar quarter shall not exceed 4% of the number of Receivables at the beginning of the preceding calendar quarter. o No deferment may extend the date for final payment of a Receivable beyond the last day of the record Collection Period preceding the Class A-2 A-4 Final Scheduled Payment Date. DUE DATE CHANGE POLICY In addition to its Payment Deferment Policy, LBAC may grant due date changes under the following conditions and circumstances. o LBAC may grant a due date change, provided that the new due date is within 20 days of the current due date. o Not more than 2 due date changes may be granted over the term of a Receivable. o If 2 due date changes are granted, the total number of days by which the maturity date is extended may not exceed 20.

GENERAL PAYMENT DEFERMENT POLICY. In addition to its Loss Mitigation Program, LBAC may defer certain payments under the following conditions and circumstances. o LBAC may grant a payment deferment provided that the deferment period does not exceed 1 month (2 months if 12 or more payments have been made and if the deferment is granted in writing by the President, or an Executive Vice President, or the National Collections Manager, or a Regional Manager). o Not more than 1 deferment event (which may consist of a 2 month deferment according to the exceptions included in the policy) may be granted during any 12-month period. o The aggregate of all deferment periods during the term of a Receivable may not exceed the lesser of 8 months or 50% of the weighted average life of the original term of the Receivable (including deferments granted both before and after the related Cutoff Date). o At least 6 payments must be made before a deferment may be granted. o A request for a deferment must be made in writing. o The deferment must bring the account current, so that after the deferment is processed no payment is then due. o Except as otherwise set forth in this policy, deferments must be granted in writing by the Collection Manager or someone of equal or higher rank. o A deferment fee will be collected for each deferment if allowed by applicable law and may be waived or deferred only by the President, or an Executive Vice President, or the National Collections Manager, or a Regional Manager; provided, however, that no deferment will be granted unless LBAC believes in good faith that the account probably would default in the reasonably foreseeable future if a deferment is not approved. o Deferments which do not meet the above criteria may be granted in writing on an exception basis (e.g., when required by law) by the President, or an Executive Vice President, or the National Collections Manager, or a Regional Manager. o As of February 1, 20042006, and the first day of each calendar quarter thereafter, the aggregate number of Receivables the terms of which have been extended during the preceding calendar quarter shall not exceed 4% of the number of Receivables at the beginning of the preceding calendar quarter. o No deferment may extend the date for final payment of a Receivable beyond the last day of the record Collection Period preceding the Class A-2 A-4 Final Scheduled Payment Date.. DUE DATE CHANGE POLICY In addition to its Payment Deferment Policy, LBAC may grant due date changes under the following conditions and circumstances. o LBAC may grant a due date change, provided that the new due date is within 20 days of the current due date. o Not more than 2 due date changes may be granted over the term of a Receivable. o If 2 due date changes are granted, the total number of days by which the maturity date is extended may not exceed 20. o A request for a due date change must be made in writing. o The account must be current at the time the request is received. o Due date changes must be granted in writing by the Collection Manager or someone of equal or higher rank. o No due date change may be granted if the aggregate of all deferment periods and the requested due date change would exceed the lesser of 8 months or 50% of the original term of the Receivable. EXHIBIT E Documentation Checklist CUSTOMER: ______________________________________________________________________ ACCOUNT NUMBER: ________________________________________________________________ This funding package contains the following initialed items:

GENERAL PAYMENT DEFERMENT POLICY. In addition to its Loss Mitigation Program, LBAC may defer certain payments under the following conditions and circumstances. o LBAC may grant a payment deferment provided that the deferment period does not exceed 1 month (2 months if 12 or more payments have been made and if the deferment is granted in writing by the President, or an Executive Vice President, or the National Collections Manager, or a Regional Manager). o Not more than 1 deferment event (which may consist of a 2 month deferment according to the exceptions included in the policy) may be granted during any 12-month period. o The aggregate of all deferment periods during the term of a Receivable may not exceed the lesser of 8 months or 50% of the weighted average life of the original term of the Receivable (including deferments granted both before and after the related Cutoff Date). o At least 6 payments must be made before a deferment may be granted. o A request for a deferment must be made in writing. o The deferment must bring the account current, so that after the deferment is processed no payment is then due. o Except as otherwise set forth in this policy, deferments must be granted in writing by the Collection Manager or someone of equal or higher rank. o A deferment fee will be collected for each deferment if allowed by applicable law and may be waived or deferred only by the President, or an Executive Vice President, or the National Collections Manager, or a Regional Manager; provided, however, that no deferment will be granted unless LBAC believes in good faith that the account probably would default in the reasonably foreseeable future if a deferment is not approved. o Deferments which do not meet the above criteria may be granted in writing on an exception basis (e.g., when required by law) by the President, or an Executive Vice President, or the National Collections Manager, or a Regional Manager. o As of February October 1, 2004, and the first day of each calendar quarter thereafter, the aggregate number of Receivables the terms of which have been extended during the preceding calendar quarter shall not exceed 4% of the number of Receivables at the beginning of the preceding calendar quarter. o No deferment may extend the date for final payment of a Receivable beyond the last day of the record Collection Period preceding the Class A-2 A-4 Final Scheduled Payment Date. DUE DATE CHANGE POLICY In addition to its Payment Deferment Policy, LBAC may grant due date changes under the following conditions and circumstances. o LBAC may grant a due date change, provided that the new due date is within 20 days of the current due date. o Not more than 2 due date changes may be granted over the term of a Receivable. o If 2 due date changes are granted, the total number of days by which the maturity date is extended may not exceed 20.

GENERAL PAYMENT DEFERMENT POLICY. In addition to its Loss Mitigation Program, LBAC may defer certain payments under the following conditions and circumstances. o LBAC may grant a payment deferment provided that the deferment period does not exceed 1 month (2 months if 12 or more payments have been made and if the deferment is granted in writing by the President, or an Executive Vice President, or the National Collections Manager, President or a Regional Manager). o Not more than 1 deferment event (which may consist of a 2 month deferment according to the exceptions included in the policy) may be granted during any 12-month period. o The aggregate of all deferment periods during the term of a Receivable may not exceed the lesser of 8 months or 50% of the weighted average life of the original term of the Receivable (including deferments granted both before and after the related Cutoff Date). o At least 6 payments must be made before a deferment may be granted. o A request for a deferment must be made in writing. o The deferment must bring the account current, so that after the deferment is processed no payment is then due. o Except as otherwise set forth in this policy, deferments must be granted in writing by the Collection Manager or someone of equal or higher rank. o A deferment fee will be collected for each deferment if allowed by applicable law and may be waived or deferred only by the President, or an Executive Vice President, or the National Collections Manager, or a Regional Manager; provided, however, that no deferment will be granted unless LBAC believes in good faith that the account probably would default in the reasonably foreseeable future if a deferment is not approved. o Deferments which do not meet the above criteria may be granted in writing on an exception basis (e.g., when required by law) by the President, President or an Executive Vice President, or the National Collections Manager, or a Regional Manager. o As of February September 1, 20042006, and the first day of each calendar quarter thereafter, the aggregate number of Receivables the terms of which have been extended during the preceding calendar quarter shall not exceed 4% of the number of Receivables at the beginning of the preceding calendar quarter. o No deferment may extend the date for final payment of a Receivable beyond the last day of the record Collection Period preceding the Class A-2 A-4 Final Scheduled Payment Date.. DUE DATE CHANGE POLICY In addition to its Payment Deferment Policy, LBAC may grant due date changes under the following conditions and circumstances. o LBAC may grant a due date change, provided that the new due date is within 20 days of the current due date. o Not more than 2 due date changes may be granted over the term of a Receivable. o If 2 due date changes are granted, the total number of days by which the maturity date is extended may not exceed 20. o A request for a due date change must be made in writing. o The account must be current at the time the request is granted. o Due date changes must be granted in writing by the Assistant Collection Manager or someone of equal or higher rank. o No due date change may be granted if the aggregate of all deferment periods and the requested due date change would exceed the lesser of 8 months or 50% of the original term of the Receivable. EXHIBIT E Documentation Checklist CUSTOMER: ______________________________________________________________________ ACCOUNT NUMBER: ________________________________________________________________ This funding package contains the following initialed items: