16a-5-110.(UCCC) Notice of consumer's right to cure.
(1) After a consumer has been in default for 10 days for
failure
to make a required payment in a consumer credit transaction payable in
installments, a creditor may give the consumer the notice described in this
section. A creditor gives notice to the consumer under this section when
the creditor
delivers the notice to the consumer or delivers or mails the notice to the
address 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: The
name, address, and telephone number of the creditor to which payment is to
be made, a brief description of the credit transaction, the consumer's
right to cure the default, the amount of payment and date by which
payment must be made to cure the default and the consumer's possible
liability for
the reasonable costs of collection, including, but not limited to, court
costs, attorney fees and collection agency fees, as provided in K.S.A.
16a-2-507 and amendments thereto. A notice in
substantially the
following 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 the
contract as though you were not late. If you do not pay by this date, we
may exercise our rights under the law.
You
may be obligated to pay reasonable
costs of collection, including, but not limited to, court costs, attorney fees
and collection agency fees, except that such costs of collection: (1) May not
include costs that were incurred by a salaried employee of the creditor or its
assignee; (2) may not include the recovery of both attorney fees and collection
agency fees; and (3) shall not be in excess of 15% of the unpaid debt after
default.
If you are late again in making your payments, we may exercise our
rights without sending you another notice like this one. If you have
questions, write or telephone the creditor promptly.
History: L. 1973, ch. 85, § 86; L. 1974, ch. 91, § 2;
L. 1994, ch. 276, § 2; July 1.
16a-5-110.(UCCC) Notice of consumer's right to cure.
(1) After a consumer has been in default for 10 days for
failure
to make a required payment in a consumer credit transaction payable in
installments, a creditor may give the consumer the notice described in this
section. A creditor gives notice to the consumer under this section when
the creditor
delivers the notice to the consumer or delivers or mails the notice to the
address 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: The
name, address, and telephone number of the creditor to which payment is to
be made, a brief description of the credit transaction, the consumer's
right to cure the default, the amount of payment and date by which
payment must be made to cure the default and the consumer's possible
liability for
the reasonable costs of collection, including, but not limited to, court
costs, attorney fees and collection agency fees, as provided in K.S.A.
16a-2-507 and amendments thereto. A notice in
substantially the
following 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 the
contract as though you were not late. If you do not pay by this date, we
may exercise our rights under the law.
You
may be obligated to pay reasonable
costs of collection, including, but not limited to, court costs, attorney fees
and collection agency fees, except that such costs of collection: (1) May not
include costs that were incurred by a salaried employee of the creditor or its
assignee; (2) may not include the recovery of both attorney fees and collection
agency fees; and (3) shall not be in excess of 15% of the unpaid debt after
default.
If you are late again in making your payments, we may exercise our
rights without sending you another notice like this one. If you have
questions, write or telephone the creditor promptly.
History: L. 1973, ch. 85, § 86; L. 1974, ch. 91, § 2;
L. 1994, ch. 276, § 2; July 1.
16a-5-110.(UCCC) Notice of consumer's right to cure.
(1) After a consumer has been in default for 10 days for
failure
to make a required payment in a consumer credit transaction payable in
installments, a creditor may give the consumer the notice described in this
section. A creditor gives notice to the consumer under this section when
the creditor
delivers the notice to the consumer or delivers or mails the notice to the
address 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: The
name, address, and telephone number of the creditor to which payment is to
be made, a brief description of the credit transaction, the consumer's
right to cure the default, the amount of payment and date by which
payment must be made to cure the default and the consumer's possible
liability for
the reasonable costs of collection, including, but not limited to, court
costs, attorney fees and collection agency fees, as provided in K.S.A.
16a-2-507 and amendments thereto. A notice in
substantially the
following 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 the
contract as though you were not late. If you do not pay by this date, we
may exercise our rights under the law.
You
may be obligated to pay reasonable
costs of collection, including, but not limited to, court costs, attorney fees
and collection agency fees, except that such costs of collection: (1) May not
include costs that were incurred by a salaried employee of the creditor or its
assignee; (2) may not include the recovery of both attorney fees and collection
agency fees; and (3) shall not be in excess of 15% of the unpaid debt after
default.
If you are late again in making your payments, we may exercise our
rights without sending you another notice like this one. If you have
questions, write or telephone the creditor promptly.
History: L. 1973, ch. 85, § 86; L. 1974, ch. 91, § 2;
L. 1994, ch. 276, § 2; July 1.