Lowes is fast

[frmrdwn]

I owe about $1000 on a Lowes Visa (GE Money Bank) that is around 70 or so days past due. I received a certified letter the other day that said "If you fail to send at least the minimum payment, preventing your account from going further delinquent and we don't receive by the next payment due date on your statement, your account will placed with a Collection Agency for further collections."

What does that mean? Hopefully, just a different person calling trying to collect?

[BigJohn]

I owe about $1000 on a Lowes Visa (GE Money Bank) that is around 70 or so days past due. I received a certified letter the other day that said "If you fail to send at least the minimum payment, preventing your account from going further delinquent and we don't receive by the next payment due date on your statement, your account will placed with a Collection Agency for further collections."

What does that mean? Hopefully, just a different person calling trying to collect?

You summarized it about right.

Was it a personal account or a commercial account?



If it goes to collections, at least you will be able to write them a letter telling them to 'bug off'.

[albacore44]

Yeah, GE Money seems to be quicker than most. so what ?? let them send it to a CA then DV it. They will go away for a while. mine did

[kenshirley]

Yes. They have granted so much risky credit (like the housing industry did) that they really monitor closely.
And who cares who calls. Calls are calls.
Once you file they can't.

[frmrdwn]

You summarized it about right.

Was it a personal account or a commercial account?



If it goes to collections, at least you will be able to write them a letter telling them to 'bug off'.

It's a personal account.

Thanks for the responses. I was surprised to get a certified letter when regular postage would have done the trick. Certified letters usually contain more useful information.

[BigJohn]

It's a personal account.

Thanks for the responses. I was surprised to get a certified letter when regular postage would have done the trick. Certified letters usually contain more useful information.

I suspect they are just making sure you haven't skipped.

[bluemartini]

Now that is funny!

[optimistic1]

Yeah, its their way of saying, "if you don't pay, we will hire someone to harass you to pay."

[frogger]

Oh they are idiots....

Boy, that sums them up pretty good. The worse my credit score has got, the more they raised my account limits. By making a few minor purchases last year, my credit limit went from $6000 up to $24000 within a matter of months. Seems that the worse shape you're in, the more they want for you to live it up at their expense.

I haven't used that account in several months now, have been paying less than the minimum, are getting the ge-money robo-calls several times a day, and yet my account is still open, active, and has the $24k limit still in place.

Go figure.... Looks like Enron accountants now work at GE Moneybank.