Terms and Conditions of the Agreement

1. Definitions
   1. In this Agreement, the following words have a particular meaning as set out below:
      
      “Bank Account” means the bank account details you gave to us in your application.
      
      “Payment Anniversary” means the same date as the Repayment Due Date in the month following the month in which the Total Amount Payable is due and consecutive months thereafter or, if that date in the month after the Repayment Due Date or consecutive months after falls on a Saturday, Sunday or bank holiday, the last working day before it.
      
      “Repayment Due Date” the date stated in this Agreement as the date on which you must repay the Total Amount Payable.
      
      “Total Amount Payable” means the amount of credit and charges you have to repay on the Repayment Due Date.
      
      “we”, “us” and “our” means Early Payday Loan Limited.
      
      "Working Day" means any day other than a Saturday, Sunday, bank holiday or other public holiday in the UK.
      
      “you” and “your” means you, the customer whose details appear at the top of this agreement.
      
      
2. Application of these Loan Terms and Conditions
   1. This Agreement is between you and us and comes into force on the date when it has been signed by you and us or on our behalf.
3. Eligibility
   1. Our loans are only available to people who:
      1. are 20 or over;
      2. have a residential address in the United Kingdom;
      3. are currently in receipt of earned income, sufficient in the opinion of the company to afford the repayments on this loan; and
      4. have a current bank account into which their salary is paid and a debit card or a direct debit facility;
   2. have not or are not:
      1. currently on any kind of unpaid leave from their job;
      2. under notice of redundancy;
      3. the subject of any disciplinary action which may cause their employment to be terminated; or
      4. tendered their resignation or intend to do so before the Repayment Due Date; and are not bankrupt, in any kind of debt management plan, entering into a trust deed or bankruptcy or Individual Voluntary Arrangement.
   3. By signing this Agreement you confirm that you meet our requirements as set out in this clause 3 and expect to do so for the duration of this Agreement.
4. Providing the Loan
   1. We will pay you the amount of the loan set out in your credit agreement into your Bank Account when:
      1. you have completed your application for a loan;
      2. we have approved your application;
      3. both you and we have signed this Agreement; and
5. Repayment of the Loan
   1. You agree to repay the Total Amount Payable on the Repayment Due Date, unless you request to extend your loan under clause 6 below.
   2. You authorise us to collect payment of the Total Amount Payable from your Bank Account by one of the following methods (as provided by you to us as part of your application):
      1. a debit card authorisation;
      2. a direct debt instruction in respect of your Bank Account; or
      3. a post-dated or undated cheque drawn on your Bank Account.
   3. You must ensure that there are sufficient funds in your Bank Account to cover payment on the Repayment Due Date.
6. Extending your Loan
   1. If you wish to extend the repayment of your loan beyond the Repayment Due Date then we may be prepared to allow you to extend the term of the loan for up three Payment Anniversaries. You must tell us that you wish to do so before your Repayment Due Date.
   2. If you wish to repay us on the first Payment Anniversary then you must repay, on the Repayment Due Date, the interest that has accrued up to that date. On the first Payment Anniversary you must repay the credit borrowed and the interest that has accrued between the Repayment Due Date and the Payment Anniversary at the rate set out in the Agreement.
   3. If you wish to repay us on the second Payment Anniversary then you must repay, on the Repayment Due Date, the interest that has accrued up to that date. On the first Payment Anniversary you must repay the interest that that has accrued between the Repayment Due Date and the first Payment Anniversary at the rate set out in the Agreement. On the second Payment Anniversary you must repay the credit borrowed and the interest that has accrued between the first Payment Anniversary and the second Payment Anniversary at the rate set out in the Agreement.
   4. If you wish to repay us on the third Payment Anniversary then you must repay, on the Repayment Due Date, the interest that has accrued up to that date. On the first Payment Anniversary you must repay us the interest that that has accrued between the Repayment Due Date and the first Payment Anniversary at the rate set out in the Agreement. On the second Payment Anniversary you must repay the interest that has accrued between the first Payment Anniversary and the second Payment Anniversary at the rate set out in the Agreement. On the third Payment Anniversary you must repay the credit borrowed and the interest that has accrued between the second Payment Anniversary and the third Payment Anniversary at the rate set out in the Agreement.
   5. We will give you details of how much you owe under this clause 6 if you extend your loan. We will collect the payments under the authority set out in clause 5.2.
   6. On the third Pay period following the date of the loan advance, if you do not repay all sums outstanding under this Agreement, we will no longer allow you to extend the borrowing period for the full amount of credit we have lent you. In such circumstances, you must repay all sums due.
7. Default
   1. If you do not pay us:
      1. the Total Amount Payable on the Repayment Due Date; or
      2. the amount required on a Payment Anniversary under a loan extension as described in clause 6
      3. the rest of this clause 7 shall apply.
   2. In the event that clause 7.1 applies:-
      1. Interest will continue to be payable, both before and after any judgment we may obtain against you. We will not charge you interest on interest, but any part repayments will be credited against interest due rather than the capital.
      2. You must also pay us all our reasonable costs and expenses uncured in trying to trace you if you move address without telling us all our reasonable costs and expenses incurred in taking steps to enforce this agreement against you.
   3. In the event that clause 7.1.1 applies, you authorise us to use your Bank Account details on each of the three Working Days following the Repayment Due Date and on each successive Payment Anniversary in order to recover the remaining balance outstanding at that time or, if we are unable to recover the remaining balance outstanding, the amount of credit.
   4. In the event that clause 7.1.2 applies, you authorise us to use your Bank Account details on each of the three Working Days following the Payment Anniversary on which a payment was due and on each successive Payment Anniversary in order to recover the remaining balance outstanding at that time or, if we are unable to recover the remaining balance outstanding, the amount of credit.
   5. We will only try to recover the remaining balance outstanding or amount of credit on each of the days listed in clauses 7.3 and 7.4.
   6. You can tell us at any time that you do not want us to use your Bank Account details as set out in clause 5 or this clause 7 to collect repayments due under this Agreement by calling us on 0845 653 1365 or writing to us at Early Payday Loan Ltd, PO Box 3512 Maidenhead SL6 3WP.
   7. Please note that if you do tell us not to use your Bank Account details you will still need to provide an alternative method of repayment.
8. Termination
   1. We may terminate this Agreement and demand repayment of the sums you owe to us under it by serving you with such notice as we are required to provide by law if:
      1. we discover that our decision to lend to you was based on inaccurate, misleading or incomplete information;
      2. you cease to comply with clause 3.1 of this Agreement;
      3. someone serves a statutory demand on you or any other steps are taken (by you or another person) to make you bankrupt;
      4. you die; or
      5. you breach the terms of this Agreement in a significant way.
9. 9 General
   1. You must tell us as soon as reasonably possible and in any event within 14 days if you change:
      1. your residential address;
      2. your home telephone number;
      3. your mobile telephone number;
      4. your email address;
      5. your work address;
      6. your work telephone number;
      7. your bank account details; or
      8. your Debit Card Details.
   2. Interest on any sums which you owe to us under this Agreement and which are overdue may continue to be charged after any judgment has been obtained against you.
   3. You agree that we may communicate with you by sending notices, information and any statements to you in relation to this Agreement:
      1. to the most recent address we hold for you;
      2. by delivery to any email address you have provided to us; or
      3. by delivery of an SMS to any mobile telephone number you have given to us.
   4. We will not send enforcement notices, default notices or termination notices by email or SMS. Where you have provided us with an email address, we may contact you by email in relation to your application and about any issue arising under the Agreement throughout the duration of the Agreement.
   5. This Agreement is governed by the laws of England and Wales which will also govern the relationship between you and us before the conclusion of this Agreement. If you are resident in England or Wales, this Agreement shall be subject to the jurisdiction of the courts of England and Wales. If you are resident in Scotland, the Agreement shall be subject to the jurisdiction of the Scottish courts. All communications between you and us will be in English.
   6. If we do not strictly enforce our rights under this Agreement (including our right to insist on the repayment of all sums due on the Repayment Due Date) or grant you an indulgence, we will not lose those rights and will not be prevented from insisting upon our strict rights at a later date.
   7. There may be other taxes or costs, which are not payable through us or charged by us, which you have to pay in connection with this Agreement.
   8. If any clause of this Agreement is found to be invalid or unenforceable, it will not affect any other clause which will continue in force.
   9. We may transfer our rights and obligations under this Agreement (including our obligation to lend money to you or the amount you owe under this Agreement) to another company. We will only tell you about such a transfer if it causes the arrangements for the administration of this Agreement to change.
10. USE OF YOUR INFORMATION
    1. We collect and use your personal information in order to administer your loan. The purposes for which we use your information include verifying your identity, carrying out credit checks and servicing our relationship with you. We may also share your personal information with credit reference agencies, fraud prevention agencies, debt collection agencies and debt management companies. Please note that in some circumstances we may transfer your personal information to countries outside of the European Economic Area (EEA), where data protection safeguards may not be as high as they are in the UK. It may also be processed by staff operating outside the EEA who work for us or for one of our suppliers. If this occurs we will ensure that adequate procedures are put into place to protect your person information. Our Privacy Policy provides full details of how we use your personal information. Please read our Privacy Policy before you sign this agreement. You can access the Privacy Policy on our website at http://www.earlypayday.co.uk/
    2. If you have agreed that we may do so, we may send you information about our products and services and products offered by others which may be of interest to you. We may also pass your information to other businesses to allow them to send details of their products to you. This includes other companies in the Albemarle and Bond group, of which Early Payday Loan Limited is a member. You have a right at any time to stop us from contacting you or giving details to others for these purposes by writing to us at Early Payday Loan Ltd, PO Box 3512 Maidenhead SL6 3WP.You also have a right to access the personal information that we hold about you. You may access your personal information at any time by contacting us at the address above. By signing this agreement you agree that we may send any notice, copy of agreement or other information or communication in relation to this agreement, to you by electronic mail at the email address(es) provided to us by you during the loan application process or afterwards for purposes connected with this agreement.
    3. In order to assess your application we will carry out a credit check. More information about credit checks and the ways in which credit reference agencies use your information is set out in our Privacy Policy http://www.earlypayday.co.uk/. Information held about you by credit reference agencies may already be linked to records relating to your partner(s). For the purposes of this application you and your partner(s) will be considered financially independent and you request that your application be assessed without reference to any “associated” records, although you recognise that this may adversely affect the outcome of your application. You believe that there is no information relating to your partner(s) that is likely to affect our willingness to offer financial services to you. You authorise us to check the validity of this declaration with credit reference agencies and if we discover any associated records, which would affect the accuracy of this declaration we may decide not to proceed with the application on this basis.