GE Money

[Optimistic09]

We appreciate the education we have received on this forum. It helped us to know what to look for in hiring an attorney. We had several consultations and found one we felt good about but we have not paid the retainer yet. Paying and using any credit cards came to a screeching halt in April 2009 so the calls are coming in but we are not answering them.

We just received a letter from GE Money stating that we have not contacted them and that failure to remit the amount past due immediately they will be forced to proceed with the appropriate action. We are not ready to file yet but want to avoid collections, garnishments, law suits etc. I expect we will be getting similar letters from other creditors.

We don't want to drag this on but aren't quite ready to file either. According to the GE Money letter what can we expect?

[pcn]

We stopped paying in Feb. GE Money sends us that letter every month (2 Belk, JCP, Lowe's, Home Depot, all the same letter), as well as a letter from their collection goons. The calls are from the collection agency, but they are automated, so I have yet to answer one. Some of the other creditors that use real people I will talk to, but not if they are so lazy as to use machines.

[liz417]

I stopped paying over a year before I filed, I would received a couple of letters and phone calls like yours (although, I didn't owe GE), I would worry, but soon realized nothing came of the phone calls/letters.

When do you plan on filing?

[falken]

The "appropriate action" is them calling you and sending you more letters.
Little chance they will do anything real anytime soon.

[kenshirley]

Just be aware that when you stop answering calls they will make contact with whoever you listed on credit apps and such. That's why they are listed and that's why they ask for them in case you drop off and they cannot find you.
Sometimes it's easier to tell them you are having problems and you will try to work with them.
It keeps them from calling others and buys you some time.

[liz417]

I agree with "KenShirley", you need to pick up the phone every once in a while to let them know that you are still around, so there is no need for them to contact family/friend/neighbors

Good Luck!

[OhioFiler]

Unless the mail is certified just throw it in a big box unopened. No sense in letting their intimidation tactics bother your emotional well being.

[albacore44]

Yeah i got that same letter about my Chevron card. I got about 6 letters yesterday from various cards. I just hole punch them and put them in a notebook for future reference. If you have any Citi cards, they will be sending you letters by UPS next day air begging for money

[liz417]

Yeah i got that same letter about my Chevron card. I got about 6 letters yesterday from various cards. I just hole punch them and put them in a notebook for future reference. If you have any Citi cards, they will be sending you letters by UPS next day air begging for money

May I make a "little suggestion?" When you receive a "letter" from a collection agency, immediately find which account it belongs to (especially if you have several from one creditor) and staple it to the last statement you received from the Original Creditor for that account. As time passes, the account balances go up/you are issued new "account" numbers, etc., and you won't recongize half of the accounts which makes it VERY difficult to list on your Matrix (some of the collection accounts didn't show up on my credit report at that time), you want to make sure you list the "last know collection agency" on your application (since you are probably going to use the same attorney I did ), this attorney requires both the Original Creditor and the Last Creditor, all addresses and ALL the balances to date.

BTW: You won't get in to see the attorney until you have all this info and pass the "guard dog" at the front desk... I tried...trust me...

[willbfree]

Word of advice when you do start getting phone calls from GE Money. They are known for their rude, nasty reps who use tactics that border on the illegal IMO. Begin taping the conversations and tell them you are taping the conversations. It vastly improves the behavior of the few reps who stay to talk to you. Most just hang up because they don't want evidence around of what they say. BTW if you don't have a telephone recorder bluff and tell them you do.

[dirtpoor]

My wife and I had 3 cc's through GE Money bank. When we stopped answering and ignoring there calls and letters they filed 3 lawsuits through a law firm called Kramer & Frank. K & F are a**holes and are not willing to work with you at that point. We are in Chapter 13 now, 341 meeting next Wednesday.

[CCCrazy]

I had a 35K line of credit with GE Money. I stopped paying six months before I filed my BK. They never sent it to a collections agency, just called me on their own for six months. I had 7-8 credit cards I discharged and the only one to send it to a collections agency was AmEx - they are BRUTAL. But it was worth it, everything was discharged in the end.

[Optimistic09]

Thanks everyone for sharing their experiences with GE Money. This forum really helps to keep things in perspective. We owe less than $600 dollars on this card but don't know if the amount makes any difference in what action they take.

[Xue]

Hi. I'm new at this too. I'm in the process of making my creditor matrix as well as a word document listing the amounts that I owe. I only had one Belk account, and that account was closed. But on my credit report, GE Money Bank/Belk has created a new account number and a new amount that I owe, as well as listing my Belk account on my credit report. One amount, which matches my balance statement is $2,957. Another listing with a new account number is $2,459.

I guess that I will just list both of them for my creditor matrix. I don't like GE Money Bank.

[frogger]

May I make a "little suggestion?" When you receive a "letter" from a collection agency, immediately find which account it belongs to (especially if you have several from one creditor) and staple it to the last statement you received from the Original Creditor for that account. As time passes, the account balances go up/you are issued new "account" numbers, etc., and you won't recongize half of the accounts which makes it VERY difficult to list on your Matrix (some of the collection accounts didn't show up on my credit report at that time), you want to make sure you list the "last know collection agency" on your application (since you are probably going to use the same attorney I did ), this attorney requires both the Original Creditor and the Last Creditor, all addresses and ALL the balances to date.

This is excellent advice. Open them, and keep them where they belong and in order. When you're ready to file, it's just a matter of heating up the copying machine and going to it.

Now a question for you:

Define "appropriate action".