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Potential Private Loan Default


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Hello everyone. I need some help if at all possible. 


I have a private loan with a small education finance company based in GA. My little nephew was visiting me back in August and early September. He is 3 years old and is really into mail. I just found this out the other day as I was cleaning and found tons of mail stuffed in the room he slept in, behind the bed... under the dresser... it was mostly junk mail but I located 2 bills from my private student loan earlier this week. I was going to call on Monday to make outstanding payments as I am behind 2 months and my third month payment is actually due Tuesday. This company only accepts checks or payment by phone so I couldn't do anything on autopay via internet and it honestly slipped my mind to pay them since I didn't see statements and have everything on autopay. 


Well today I received a letter from them dated October 1st that states: 


Dear Scaredycat, 

Although statements have been sent to you as advisement that payments were due for 8/15/2013 and 9/15/2016, we have not received the payments or heard from you. Soon another payment will be due on 10/15/2013. We consider this matter to be quite serious and requiring immediate attention. 

The purpose of this letter is to advise you that you and your endorser that if we have not received a payment of $120.00 by 10/10/2013 your account may be declared in default. At that point the account principal balance of $1,700 plus all accured interested and late charges will be due in full. Futher, the account will be assigned to a collection agency or attorney for recovery. They will be given instructions to recover in full your account balance as monthly payments will no longer be accepted. The fact that you and your endorser are in default and have been assigned for recovery will be reflected on the credit reports for both you and your endorser with national consumer credit reporting agencies. 

Should you or you endorser wish to discuss this matter, it is urget that you call us on receipt of this letter. Otherwise, by the required date, payment should be made by mail or phone using a debit/credit card. 


I am freaking out. I just got the letter today. I have the funds to pay in full, that isn't a problem, but I cannot have this default or list on my credit as a default/going into collections. I am okay with a late payment or two being on there, but not so much as a default. They are closed today and tomorrow, I have left voicemails and emailed asking them to please contact me immediately for full payment and I explained I only received the letter today, 10/12/2013 and thus the deadline has passed. 


I am very concerned that this was written off already and I can't catch it and will thus have to deal with collections. What are my options here? What can I do to keep this from hitting my credit as a full default? 

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