Debt Consolidation Loan Terms and Conditions
1. Acceptance of these Terms and Conditions
By requesting the Debt Consolidation Loan, I shall be deemed to have read, understood and accepted these Terms and Conditions.
2. Borrower’s information
The information I provide is and will remain true and accurate. If there is any change in my personal information including name, residential and mailing address, mobile number(s), email address or employment, I will update Zero as soon as reasonably practicable.
3. Approval of the Loan and Conditions
Approval of the Loan and the terms applicable to the Loan (including amount, tenor and interest rate) shall be at the sole discretion of Zero and is conditional upon fulfillment of the following conditions to Zero’s satisfaction:
a. provide all documentary proof required by Zero which Zero may independently verify;
b. a satisfactory review of my credit profile available at the credit reference agency;
4. Undertakings
Zero has the right to specify the terms and conditions of the Loan, including the portion of approval loan amount to be used for settling the total or part of outstanding balance of credit card(s) or personal loan(s) owed by me. I undertake that upon the approval and drawdown of the loan:
(i) use the loan amount to settle the total or part of outstanding balance of credit card(s) or personal loan(s) owed by me
(ii) upon the request of Zero, provide the repayment/settlement proof(s) and/or termination record(s) (For example, repayment, account settlement or credit limit reduction record(s))
5. Handling Fee
No handling fee will be charged in connection with the processing of the Loan.
6. Monthly Repayment
On each Monthly Repayment Date, I agree to pay the Monthly Repayment Amount. If a Repayment Date shall fall on a day where there is no numerically corresponding day in that calendar month, the last day of that month shall become that Repayment Date.
7. Late Repayment
For each month I fail to pay any monthly repayment amount in full when due, interest will be charged according to the terms in loan contract.
8. Amendment
Zero reserves the right to amend these Terms and Conditions at any time without prior notice.
9. Collection Costs
Zero may take such steps and actions as it reasonably thinks fit to enforce repayment of the Loan and interest thereon and these Terms and Conditions including without limitation, employing lawyers and third party debt collection agents to collect any sums I owe Zero. I shall indemnify Zero on demand for all reasonably incurred costs and expenses incurred by Zero in respect of any such enforcement steps and actions. I also agree and authorise Zero to disclose relevant information to such persons for these purposes.
10. No Waiver
No failure, act, omission or delay by Zero to exercise or enforce any right shall operate as a waiver of such right, nor will any single, partial or defective exercise of any right prevent any other or further exercise of it or the exercise of any other right.
11. Third Parties Rights
A person who is not a party to these Terms and Conditions may not enforce any of their terms under the Contracts (Rights of Third Parties) Ordinance (Cap 623 of the Laws of Hong Kong).
