Debt cancellation contract definition
Debt cancellation contract means a loan term or contrac- tual arrangement modifying loan terms under which a bank agrees to cancel all or part of a customer’s obligation to repay an exten- sion of credit from that bank upon the occurrence of a specified event. The agreement may be separate from or a part of other loan documents.
Debt cancellation contract means a loan term or contrac- tual arrangement modifying loan terms under which a credit union agrees to cancel all or part of a customer’s obligation to repay an extension of credit from that credit union upon the occurrence of a specified event. The agreement may be separate from or a part of other loan documents.
Debt cancellation contract means a loan term or contrac- tual arrangement modifying loan terms under which an associa- tion agrees to cancel all or part of a customer’s obligation to repay an extension of credit from that association upon the occurrence of a specified event. The agreement may be separate from or a part of other loan documents.
More Definitions of Debt cancellation contract
Debt cancellation contract means a loan term or contractual arrangement modifying loan
Debt cancellation contract means a loan term or contractual arrangement modifying Covered Loan terms under which a Licensee agrees to cancel all or part of a customer’s obligation to repay a Covered Loan from that Licensee upon the occurrence of a specified event. The agreement may be separate from or a part of other loan documents.
Debt cancellation contract means a loan term or
Debt cancellation contract means a loan term or contractual arrangement modifying loan terms under which a bank agrees, for a fee, to suspend all or part of a customer's obligation to repay an extension of credit from that bank upon the occurrence of a specified event. The agreement must specify the extension of credit to which it pertains. The extension of credit to which it pertains may be a direct loan made by the bank or an indirect loan in the form of a retail installment sales contract purchased by or assigned to the bank. In the case of an indirect loan in the form of a retail installment sales contract, the debt cancellation contract may be offered by the bank through a nonexclusive, unaffiliated agent contingent upon the bank purchasing or taking assignment of the indirect loan. The agreement may be separate from or a part of other loan documents. A debt cancellation contract may be offered and purchased either contemporaneously with the other terms of the loan agreement or subsequently.
Debt cancellation contract means a loan term or contractual arrangement modifying loan terms under which a mutual association agrees, for a fee, to suspend all or part of a customer's obligation to repay an extension of credit from that mutual association upon the occurrence of a specified event. The agreement must specify the extension of credit to which it pertains. The extension of credit to which it pertains may be a direct loan made by the mutual association or an indirect loan in the form of a retail installment sales contract purchased by or assigned to the mutual association. In the case of an indirect loan in the form of a retail installment sales contract, the debt cancellation contract may be offered by the mutual association through a nonexclusive, unaffiliated agent contingent upon the mutual association purchasing or taking assignment of the indirect loan. The agreement may be separate from or a part of other loan documents. A debt cancellation contract may be offered and purchased either contemporaneously with the other terms of the loan agreement or subsequently.
Debt cancellation contract means a loan term or contractual arrangement modifying loan terms under which a credit union agrees, for a fee, to cancel all or part of a member's obligation to repay an extension of credit from that credit union upon the occurrence of a specified event. The agreement must specify the extension of credit to which it pertains. The agreement may be separate from or a part of other loan documents. A debt cancellation contract may be offered and purchased either contemporaneously with the other terms of the loan agreement or subsequently. The extension of credit to which it pertains may be a direct loan made by the credit union or an indirect loan in the form of a retail installment sales contract purchased by or assigned to the credit union. In the case of an indirect loan in the form of a retail installment sales contract, the debt cancellation contract may be offered by the credit union through a nonexclusive, unaffiliated agent contingent upon the credit union purchasing or taking assignment of the indirect loan.
Debt cancellation contract means a loan term or contractual arrangement modifying loan terms under which a credit union agrees, for a fee, to cancel all or part of a member's obligation to repay an extension of credit from that credit union upon the occurrence of a specified event. The agreement must specify the extension of credit to which it pertains. The agreement may be separate from or a part of other loan documents. A debt cancellation contract may be offered and purchased either contemporaneously with the other terms of the loan agreement or subsequently.