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PRE-AGREEMENT TRUTH IN LENDING DISCLOSURE STATEMENT: SECTION 18 (1)

                            (This is neither a Contract nor a commitment to Lend)

 

Lender’s Name:

Applicant                                                                                                             Prepared by:

 

Address:

Application No:                                                                                                  Date Prepared:

 

              ANNUAL

        PERCENTAGE

       RATE

               FINANCE

               CHARGE

               AMOUNT

                               FINANCED

            TOTAL OF

          PAYMENTS

The cost of your

credit at a yearly rate

%

The amount the credit

will cost you (specify currency and amount)

US$/GH¢

The amount of credit

provided to you or on

your behalf

US$/GH¢

The amount you will

have paid after making

all payments as scheduled

US$/GH¢

REQUIRED DEPOSIT PAYMENTS:

Your payment schedule will be:

Number of Payments             Amount of Payments                   When Payments Due

o   DEMAND FEATURE: This obligation has a demand feature

o   VARIABLE RATE FEATURE: This loan contains a variable rate feature. A variable rate disclosure has been provided earlier.

INSURANCE: The folllowing insurance is required to obtain credit:

o   Credit life insurance

o    Credit disability

o    Property insurance

o   Flood insurance

You may obtain the insurance from anyone you want that is acceptable to creditor. If you purchase property, flood insurance from creditor, you will pay US$/GH¢ for a one year term.

SECURITY: You are giving a security interest in:

o   The goods or perperty being purchased

o   Real property you already own

FILING FEES: US$/GH¢

LATE CHARGE: If a payment is more than [    ] days late, you will be charged %

PREPAYMENT: If you pay off early, you

                                

o   will/will not have to pay a penalty of [    ]

o   may/may not be entitled to a refund of part of the finance charge.