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Valued Member
greenpea104
Posts: 49
Registered: ‎09-22-2007
0

Cap1 GW success?

I have read some older threads about this and there seem to be mixed results. I was just curious if anyone has had any recent luck with Cap1 goodwill letters.

I have 3 late payments with them from Nov 2002 - April 2003 (2-30's, 1-60).

I sent out a GW letter to the "credit reporting dept." today. I am curious what the chances are of it working. Also, should I expect a response? I don't do credit monitoring. Will I need to look at my report again in a few months to see if they're still there?

Lastly, if denied, what's the next step?

Thanks for the info!
Contributor
goingnowhere
Posts: 102
Registered: ‎08-23-2007
0

Re: Cap1 GW success?

Cap ! doesn't even have the decency to respond to my GW :smileymad:
Valued Member
greenpea104
Posts: 49
Registered: ‎09-22-2007
0

Re: Cap1 GW success?

Hmm...that's not nice!

I know I have read of instances on these boards where people have had success. I wonder what they're doing that the others aren't.

I really need to know the secret as 3 of my 4 "baddies" are with Cap1. They fourth is a 30 day late with Wachovia from 10/03. I have also sent a GW letter to them. Are they cooperative?

Other than a really high UTI (about 65%), these four lates are the only neg. on my reports.
Moderator Emeritus
Timothy
Posts: 9,252
Registered: ‎03-19-2007
0

Re: Cap1 GW success?

My GW letters have not worked-

By Phone I did get 1 30 off both cards.
Now I am challenging the 60 because it was not even 30 days past the due date-
Valued Member
greenpea104
Posts: 49
Registered: ‎09-22-2007
0

Re: Cap1 GW success?

Ok, so a phone call may be more productive. I just don't know how much leverage I have. The lates are from when I was in undergrad and was really bad with finances. I was home (with the rents) on breaks and didn't get those bills...didn't even think about it. I mentioned being away from my residence in the GW letters. I said that it was by no means an excuse of course, etc.

I didn't use the cap1 card for about three years. I have been using it frequently over the past 6-8 months or so and either paying in full or a larger purchase over 2 months. It is a $0 bal. on a $500 CL now. My point being, while I haven't been late with them since 2003, I also wasn't really using the card.
Regular Contributor
Vanyel
Posts: 216
Registered: ‎05-17-2007
0

Re: Cap1 GW success?

I sent Cap 1 a goodwill letter on the 18th of this month so it's probably to early to tell, but I'll definately post back if and when I hear from them either way.
 
Van
 
FICO 6/25/08 TU 668 EQ 646 EX 652
FACO 6/25/08 TU 655 EQ 622 EX 641
Recovering from the App Spree that dropped me like a rock. Post Car loan apps as well.
.
Valued Member
greenpea104
Posts: 49
Registered: ‎09-22-2007
0

Re: Cap1 GW success?

Great, thank you Van!

I think it's very helpful to hear others' results and look for trends.

I will of course also keep you posted.
Frequent Contributor
MeganML84
Posts: 388
Registered: ‎09-06-2007
0

Re: Cap1 GW success?

I got denied on my first GW attempt to Cap1...
 
...awaiting a response on my 2nd attempt...:smileyindifferent:
Wisdom doesn't automatically come with old age. Nothing does - except wrinkles. It's true, some wines improve with age... but only if the grapes were good in the first place.
Valued Member
cabledude27
Posts: 29
Registered: ‎03-07-2007
0

Re: Cap1 GW success?

I recently sent them a letter for 1 30 day from 2003 and got an auto generated letter say "No soup for you".

Greenpea did you speak to a rep at the customer service line or a supervisor? I have to call them to try and get my cards combined so I thought I might slip that in to see if they can remove the late references.
Scores as of 10/18/07:
TU-697, EQ-695, EX-714

As of 2/21/08 TU-689, EQ-689, EX-721

CH 7 BK in 9/1999; 19 months it comes off the CRA's!!
Regular Contributor
Vanyel
Posts: 216
Registered: ‎05-17-2007
0

Re: Cap1 GW success?

This is a copy of the letter I wrote to Cap 1 to give an idea of what I was asking for.

Additionally what I didn't say is that I would really like them to remove the 120 in Mar of this year considering that the debt was paid in full as of Oct of last year.  So if the GW doesn't work I will start another dispute with the CRA's.

 

October 18, 2007

Capitol One

P.O. Box 85520

Richmond, VA23285-5520

 

Dear Sir or Madam:

I was a Capitol One customer for several years beginning in the late 1990’s.  I enjoyed a good relationship with Capitol One, and had no missed or late payments at all.

In June of 2002 there was an accident at work.  My back was injured rather severely, and the following month I had to have surgery.  I was out of work from the date of the accident for almost 2 years, and at that point I could no longer do my job due to the medical restrictions placed on me.

So by this point as you can see I was starting to miss payments and falling further and further behind with no relief in sight.  I began training for a new line of work which involved schooling for another 18 months, still having no income and living day to day on the largess of my friends and family.  When my training was completed I found gainful employment and started digging myself back out of the 3 and a half year financial hole I was in.

This process was very slow and tedious as you can imagine.  At first my income from my new profession was very low, and as time went on it increased as I worked hard at it.  At the same time I was paying back debts off as quickly as possible. 

In October of 2006 I was able to address the debt owed to Capitol One.  I called your offices and spoke to a collections representative.  I paid that debt in full, including all fees and interest charges to date by ACH check transfer.  I spoke for a few minutes with that representative and she told me that while there were no guarantees, she would try to help with reporting the trade line to the credit bureau’s as current rather than derogatory. 

She also stated that if I waited a few months, checked my credit report again and it was still reporting as derogatory to dispute it with the credit reporting agency and Capitol One would as a goodwill gesture remove the account from my reports.

This account is still reporting on my credit reports hence my letter to you today.  My credit rating is very important to me and I have worked very hard to get everyone that I owed paid off.  I have finally succeeded, and have been rebuilding my credit and reputation.

My request of Capitol One is to remove this account from my credit report as a goodwill gesture and allow me to prove my credit worthiness as it truly is now and not as it was during a particularly difficult portion of my life.  Any consideration on your part in this matter is very much appreciated, and I am looking forward to the time when Capitol One will consider me a good customer again.

Thank you for you time reading this letter, and for any response you feel is appropriate.

Sincerely,

Typed Name

Capitol One Account # ******************* 

 

 

Van

 


 

FICO 6/25/08 TU 668 EQ 646 EX 652
FACO 6/25/08 TU 655 EQ 622 EX 641
Recovering from the App Spree that dropped me like a rock. Post Car loan apps as well.
.

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