First of all, thanks to everyone who has provided helpful information on credit repair. I discovered this forum about a week ago and have learned so much from reading all of the postings!
I have a situation that I haven't seen discussed yet, but I thought I would see if anyone has any insight or advice.
I helped out my former fiance with some financial items, because he didn't have very good credit and at the time I had excellent credit. Well thanks to him my FICO score is now in the low 600's (before I met him it was over 750). Yes, very dumb on my part, I know. I just figured that we were going to get married and have our finances in common anyway, so what the heck!
Anyway, my situation now is that he canceled a Verizon account that was in my name in October. He told me that he had canceled it, but what I didn't know was that he hadn't paid the entire cancellation fee. So early this year I see a charge-off from Verizon on my credit report for ~$280. I called them and paid it off immediately. Of course, I got a big hit on my credit reports, but the account has been shown as paid off and my score was slowly increasing again.
Until....at the beginning of this month I get a call from Washington Mutual that the home loan that I co-signed with him was over 30-days late. He had been paying the mortgage via automatic withdrawal and he didn't have sufficient funds in July to pay. Again, I paid the balance immediately, but again it was too late and my EQ score plunged almost 100 pts.
Until I started reading these posts, I thought I was just screwed. But now I'm thinking I should try writing GW letters to Verizon and Wamu in hopes that at least one of them will have mercy on me!!
I'm also thinking of having my ex-fiance sign letters saying that he was responsible for these accounts and that I didn't know anything about the delinquencies until after they were reported to the credit agencies. He's agreed to sign them, as he feels badly about the whole thing. Yeah - too little too late - but at least he's being somewhat cooperative.
Sorry for the long post! I was just wondering if anyone had experience with a third party involved. Does it make a difference if bills were being sent to someone else at a different address even though the account was in my name.
Not to rub salt in the wound, but I don't believe a letter from your ex will do you any good legally. Until he refinances that property in his name only, it will affect your credit whenever he is late. I'd get him to refinance to get rid of that legal responsibility. If he can't..I think you are stuck....
I agree that the best course of action would be for my ex to refinance, but he can't do that right now. I've had wamu forward the mortgage bills to me. I will pay them and he will reimburse me until he can refinance.
The purpose of having him write a letter would be to reinforce to my GW request to remove the lates from my credit reports. But I just don't know if that's going overboard or not. Would it be better to keep things simple and just send a GW letter from myself?