16a-5-110

Chapter 16a.--CONSUMER CREDIT CODE
Part 1 LIMITATIONS ON CREDITORS' REMEDIES
Article 5.--REMEDIES AND PENALTIES

      16a-5-110.   (UCCC) Notice of consumer's right to cure.(1) After a consumer has been in default for 10 days forfailureto make a required payment in a consumer credit transaction payable ininstallments, a creditor may give the consumer the notice described in thissection. A creditor gives notice to the consumer under this section whenthe creditordelivers the notice to the consumer or delivers or mails the notice to theaddress of the consumer's residence as provided in subsection (6) of K.S.A.16a-1-201 and amendments thereto.

      (2)   The notice shall be in writing and shall conspicuously state: Thename, address, and telephone number of the creditor to which payment is tobe made, a brief description of the credit transaction, the consumer'sright to cure the default, the amount of payment and date by whichpayment must be made to cure the default and the consumer's possibleliability forthe reasonable costs of collection, including, but not limited to, courtcosts, attorney fees and collection agency fees, as provided in K.S.A.16a-2-507 and amendments thereto. A notice insubstantially thefollowing form complies with this section:

      (Name, address, and telephone number of creditor)

      (Account number, if any)

      (Brief description of credit transaction)

is the LAST DAY FOR PAYMENT

      (Date)

is the AMOUNT NOW DUE

      (Amount)

      You are late in making your payment(s). If you pay the AMOUNT NOW DUE(above) by the LAST DAY FOR PAYMENT (above), you may continue with thecontract as though you were not late. If you do not pay by this date, wemay exercise our rights under the law.Youmay be obligated to pay reasonablecosts of collection, including, but not limited to, court costs, attorney feesand collection agency fees, except that such costs of collection: (1) May notinclude costs that were incurred by a salaried employee of the creditor or itsassignee; (2) may not include the recovery of both attorney fees and collectionagency fees; and (3) shall not be in excess of 15% of the unpaid debt afterdefault.

      If you are late again in making your payments, we may exercise ourrights without sending you another notice like this one. If you havequestions, write or telephone the creditor promptly.

      History:   L. 1973, ch. 85, § 86; L. 1974, ch. 91, § 2;L. 1994, ch. 276, § 2; July 1.