After you sign your loan agreement, we will disburse the Amount Financed shown in your loan agreement (“Amount Financed”) to the account(s) provided.
(i) disburse that portion of the Amount Financed to any account that you provided to us for disbursement purposes; or
(ii) reduce the Amount Financed by the amount that we are unable to disburse to you and recalculate your payments over the loan term selected during the application process. If we reduce the Amount Financed, we will notify you and provide you with revised Federal Truth in Lending Disclosures.
For example, if you take out a 48 month loan for $16,000 and you direct us to disburse $5,000 to a credit card account and $11,000 to a bank account and we are unable to disburse the $5,000 to the credit card account, we may either (i) disburse the $5,000 to the bank account or (ii) reduce your loan amount to $11,000 and recalculate the monthly payment amount of the $11,000 loan over 48 months.