Installment Agreement

1. Agreement Terms

This Installment Agreement ("Agreement") is entered into between Lilypay and the borrower ("You") for funeral financing services. By accepting our financing, you agree to the following terms and conditions.

2. Loan Amount and Fees

Principal Amount

The principal amount equals the total cost of funeral services and related expenses as agreed upon with the funeral home.

Service Fee

• 4% for 3-month plans, 8% for 6-month plans
• Applied as a one-time fee
• Included in your first payment
• No additional interest charges

Total Amount Due

Total Amount = Principal + Service Fee (4% for 3-month plans, 8% for 6-month plans)

3. Payment Schedule

Payment Options

Payment Due Dates

• First payment: Due within 30 days of service completion
• Subsequent payments: Same date each month
• Automatic withdrawal from designated bank account
• 24-hour grace period before late fees apply

4. Late Payment Policy

Late Fee Structure

• Grace Period: 24 hours after due date
• Late Fee: $25 per missed payment
• Application: Applied once per missed payment
• Maximum: Limited to reasonable amounts

Default Terms

If payments are more than 30 days past due, the account may be considered in default. We will work with you to establish a payment plan before taking any collection actions.

5. Early Payment

• No prepayment penalties
• Early payment reduces total amount owed
• Partial early payments accepted
• Contact customer service to arrange early payment

6. Payment Methods

Automatic Payments (Recommended)

• Bank account withdrawal (ACH)
• Set up during application process
• Ensures on-time payments
• Can be modified with notice

Alternative Payment Methods

• Online payments through your account
• Phone payments with customer service
• Check payments (allow processing time)

7. Account Management

• Access account information online
• View payment history and upcoming due dates
• Update payment methods and contact information
• Download payment statements

8. Communication

We will communicate with you via:

• Email reminders before due dates
• Text notifications (if opted in)
• Phone calls for account management
• Mail for important account notices

9. Credit Reporting

Lilypay may report payment history to credit bureaus. Positive payment history can help build your credit score, while missed payments may negatively impact your credit.

10. Modification and Hardship

If you experience financial hardship, contact us immediately. We may be able to:

• Adjust payment due dates
• Establish temporary payment plans
• Waive late fees in certain circumstances
• Provide other accommodation options

11. Contact Information