Opininions on this letter

[pa308]

See below for letter sent to me by gemb projectline. I am behind and not sure whether they are getting ready for court or what...They speak of a contract which i cannot find but i think they are just a credit card i used when getting new windows. When they say exercise their rights, what are they talking about? what do they mean by continue with the contract???

Letter------------
Notice to customer of right to cure defautlt

Jan 2 2008 is the LAST DAY FOR PAYMENT
350 is due.

You are late in making your payments. If you make payment now you may continue with the contract as though you were not late. If you dont pay by this date we may exercise our rights under the law. If yoou are late again in making your payyments we may exercise our rights without sending any notice.

[FreshLikeADaisy]

pa308, that sounds like a generic collection letter to me, but there's no way to know what "rights" they may exercise without seeing the contract or RICA (retail installment credit agreement), so there's really no way anyone could guess at a specific answer. Are they going to come rip your windows out of your house? No. But try to remember what you signed, or even ask them for a copy of it, so you can put your mind at ease. At the very least, get the contract so that you know if it is a secured or unsecured debt, and can list it correctly on your schedules.

[jp2861]

Generic CA letter. For $350 they probably won't do much but give you a hard time, ie: harass you. I would send them a letter asking to validate the debt. While that's happening, I would start reading posts from some of the forums that deal with collections. You really need to educate yourself on the process, your rights, and what these clowns can and cannot do. Good luck.

[pa308]

jp, 350 is due on 4000 balance. Should i be contacting them or my attorney?? I faxed it to him but havent heard anything back. To ask them for a copy of the contract should i do it in writing or call?

[treehugger1]

I'm no expert, but I think the letter is from the original creditor simply giving you the opportunity to "make good." It does not sound as if they have formally sent you to a third party collector. I've noticed that several large national creditors have a tendency to "enilist" the services of third-party collectors to help them "encourage" debtors to make payments. I am guessing that the right-to-cure is a notice from the original creditor, not a third-party collector. Others can weigh in here.

[jp2861]

jp, 350 is due on 4000 balance. Should i be contacting them or my attorney?? I faxed it to him but havent heard anything back. To ask them for a copy of the contract should i do it in writing or call?

I have a delinquent account with GE MoneyBank too. It sounds like a simple reminder letter. If you plan on filing just call them and tell them your plans and your lawyers info. Nothing else you really need to do.