S
shelbea
Guest
Airline training contract
What is the name of your state? PA
My husband signed a training contract with his company for two years. He did not finish his two years, which means we owe the company for the pro-rated amount of his training left (we have no problem with that). This is how the contract reads:
The total to be paid by XXX to XX is $6252.50.
Commencing in March 2003, XXX will submit a payment of no less than $500.00 by the 25th of each month, with a final remaining balance payment due on August 31, 2003.
Failure to make any of the monthly payments in a timely manner, unless previously authorized by XXX, will result in a service charge of 1 1/2% per month (18% per annum) added to the open balance at the time of default. XXX reserves the right to proceed with litigation subsequent to such an event.
We have made each payment by the 25th of each month, and my question is:
If we continued to pay them $500 a month until paid plus the 1 1/2 %, can they turn us in to collections? We are willing to pay the 1 1/2% service charge per month, is there a way to do this?
Thank you.
What is the name of your state? PA
My husband signed a training contract with his company for two years. He did not finish his two years, which means we owe the company for the pro-rated amount of his training left (we have no problem with that). This is how the contract reads:
The total to be paid by XXX to XX is $6252.50.
Commencing in March 2003, XXX will submit a payment of no less than $500.00 by the 25th of each month, with a final remaining balance payment due on August 31, 2003.
Failure to make any of the monthly payments in a timely manner, unless previously authorized by XXX, will result in a service charge of 1 1/2% per month (18% per annum) added to the open balance at the time of default. XXX reserves the right to proceed with litigation subsequent to such an event.
We have made each payment by the 25th of each month, and my question is:
If we continued to pay them $500 a month until paid plus the 1 1/2 %, can they turn us in to collections? We are willing to pay the 1 1/2% service charge per month, is there a way to do this?
Thank you.
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