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EXTENDED REPAYMENT Program. A member shall make sure a shopper who's undergoing monetary hardship which is not able to repay the loan inside a timely manner is afforded an inexpensive repayment application with out incurring extraordinary expenses or penalties. For just one repayment loan, a member could make accessible to buyers who're not able to repay a loan Based on its authentic deal terms, the choice of repaying the loan around an extended stretch of time Unless of course or else not permitted by state regulation. Such an prolonged payment program will probably be supplied in compliance with any prerequisite in point out law to offer an extended payment prepare or, from the absence of such a necessity in condition law, in compliance with the Best Exercise “Suggestions for Prolonged Payment Plans.
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