Debt Protection Changes FAQ
Why am I getting this letter?
You have selected to protect your loan through our debt protection program. We are expanding our benefits for debt protection and changing some of our rates. We are sending this has a notice to you that these changes are taking place.
What are my new benefits?
How does this affect my loan payment?
Depending on the option you selected your last loan payment or maturity date may change. This change is because your benefits are expanded greatly. Your last loan payment may go up or your loan term may possibly pushed back a month.
You are of course free to cancel at anytime, but we encourage you to look at your expanded benefits before deciding.
What action do I need to take?
No action is required by you. The change will be automatically processed.
What option do I have?
If you look at the paperwork you received when you closed your loan there should be a document titled - "Member's Choice Borrower Security Contract". This will show the option you have. You can also give us a call and we can let you know.