Inadvertant late payment...am I liable?

[hoseb1]

What is the name of your state? Utah
I recently submitted a late payment to GE Capital Consumer Card Company. The payment was due on July 8. I mailed the payment on July 4 but due to a weekend day and the July 4th Holiday, GE did not receive the payment on the 8th and did not post the payment untill July 12. The payment was for a 90 day 'same as cash' promotion that GE had bought the contract from a home improvement supplier. I submitted the full amount of $8,890 intending to pay off the entire balance. A few days later GE sent me a billing for $359 in interest charges. They were quite nasty to me when I called them on the phone asking for some clemency. I was told to pay the amount in full or it would be turned over to a collection agency and my credit rating, which is excellent, would suffer accordingly.
Is there a way to satisfy this debt by submitting them a lesser payment than the $359 and designating it as 'paid in full' or should I take my chances with a collection agency. If so, what would be a reasonable ammount?
I refuse to pay the full $359!

 

[Ladynred]

Accord and satisfaction/restrictive endorsements (marking 'paid in full' on a check for less) is only recognized in a few states and where it is upheld, you must follow a very specific process to make it stick. Utah DOES enforce the RE's, but there's still a process to follow:

http://www.carreonandassociates.com/articles/4settle.htm

You sent the payment in far too late and too close to a holiday weekend. Most credit statments clearly state that you should allow TEN DAYS for a payment to get to there on time to avoid late fees.

 

[nissandave]

If you don't pay the 359, your cedit is screwed! The burden of submitting timely payment is on the debtor, not the USPS or the creditor. Accordingly, if the payment receive date was after the promo period, then yes, you are responsible for the interest.
Also, if you pay $358.99 or less, then it would be a miracle to get them to mark it "paid in full". IMO, I would ask myself is your excellent credit worth the $359?