- This agreement, by and between Gemach Chasdei Yosef or its assignees, hereafter referred to as GCY, and the applicant as per the Contact Information provided in the online application form hereafter referred to as Client.
- Client retains GCY to use its experience, knowledge, and relationships to and not-limited to assess, identify and secure a favorable repayment solution for the Client’s unsecured debt(s) as per Creditor information provided in the online application form
- Client authorizes GCY to contact any party on their behalf that is needed to assess, identify and secure a favorable repayment solution for Client’s debts listed in the Credit Card Information sign up. This authorization is not limited, and may include agents of GCY presenting as the client
- GCY guarantees to secure a repayment solution with a repayment period of no greater than sixty-five (65) months and annual percentage rate (APR) for each credit card/loan equal to or lower than the current APR
- If GCY fails to secure a repayment solution with a repayment period of no greater than sixty (60) months or annual percentage rate (APR) for any credit card/loan no greater than the above listed percentages, Client may accept a partial refund, if offered by GCY, or Client may request a full refund. GCY will pay the partial or full refund to Client within seven (7) business days.
- Any funds that the Client agrees to pay GCY are considered payment for its GCY’s services and any expense GCY may incur in performing such services. All fees are considered earned upon payment of fees by Client.
- Client agrees to provide GCY with all necessary personal and financial information (like, monthly living expenses and credit card/loan information)
- Client understands that any credit card account placed in the repayment plan may be required to be closed and Client will no longer have any further access to credit from the account. Further, Client understands that in order to qualify for the repayment solution, all accounts from the same lender may be closed by the lender, even if all accounts are not placed in the repayment plan.
- Client understands that all unsecured debts may need to be placed in the monthly repayment plan and Client warrants that all unsecured debts have been disclosed to GCY.
- Client has been advised and understands that GCY does not have any business relationship and is not affiliated in any way with any of the parties that GCY contacts on behalf of Client.
- Additionally, Client has been advised and understands that the party, who will set up and administer the plan, will charge a one-time setup fee, the maximum of which will not exceed forty-five dollars ($45.00) and a monthly administrative fee not exceeding to sixty-five dollars ($65.00). Client has further been advised and understands that Client may be able to revise or even cancel this monthly administrative fee after 3 months, subject to the approval of Client’s creditors.
- GCY may divulge personal information of Client to any party regarding living expenses, total indebtedness, ability to pay, credit card/loan account details, etc. when GCY deems it necessary in order to assess, identify and secure a favorable third-party repayment solution for some and/or all of Client’s debts listed above.
- Client authorizes GCY to receive and access Client’s personal information from any of the parties that GCY finds necessary to contact on behalf of Client.
- No loan, which has collateral, should be included in any debt management program. GCY is not responsible for action taken by creditors against a co-signer responsible for the debt. GCY is not responsible for any litigation, which is in process or may arise in the future between Client and creditors.
- Client agrees not to hold GCY, its employees, officers, counselors, volunteers, etc. responsible for any liability whatsoever that may arise from GCY efforts to help the Client. Client understands that GCY representatives and employees are not attorneys and do not provide legal advice. Such advice can only be properly given by a qualified attorney, who is fully aware of the client’s individual circumstances and any and all applicable laws. GCY makes no promise regarding the maintenance or improvement of the Client’s past, present, or future credit ratings. Client authorizes GCY and/or any third party contacted by GCY on Client’s behalf to obtain Client’s credit bureau report as deemed necessary by GCY and/or said third party.
- Client agrees that If circumstances change and it is no longer possible to make the monthly payments of the repayment plan, Client will immediately contact GCY and/or the party who sets up and administers Client’s repayment plan for assistance. Client is responsible for monitoring his/her creditor statements to ensure correct posting of repayment plan payments by his/her creditors.
- This agreement becomes effective on the date signed by Client and represents the entire agreement by and between the parties and may not be modified by the oral statement of either party. This agreement may be modified only upon written agreement signed by both parties. This agreement will terminate after GCY secures and presents Client with a repayment plan proposal.
- Client agrees that any controversy relating to any agreement with GCY will be submitted to arbitration via Beis Din. Arbitration is final and binding on the parties. The parties are waiving their rights to seek remedies in court, including the right to jury trial. The arbitrator’s award is not required to include factual findings or legal reasoning and any party’s right to appeal or to seek modification of rulings by the arbitrators is strictly limited. The panel of arbitrators will be mutually agreed upon by Client and GCY.
- Facsimile or Digital Signatures: Facsimile or digital signatures shall be sufficient for purposes of executing, negotiating, and finalizing this contract, and delivery thereof by one of the following methods shall be deemed delivery of this contract containing original signature(s). An acceptable facsimile signature may be produced by scanning an original, hand-signed document and transmitting the same by facsimile. An acceptable digital signature may be produced by use of a qualified, established electronic security procedure, such as DocuSign, mutually agreed upon by the parties, by their use of such. Transmissions of a digitally signed copy hereof shall be by an established mutually acceptable electronic method, such as creating a PDF (“Portable Document Format”) document incorporating the digital signature and sending same by electronic mail.
- If any provision of this Agreement shall be adjudged by a court to be invalid or unenforceable, the same shall in no way affect any other provision of this agreement.