So I have been an avid customer of Myfico for close to 2 years now. During that time I have religously paid my bills on time, taken care of all collections, even disputed an event with my auto loan company about inaccurate claims on payment history. Trouble is that my score has been above 630 and in fact now its down to 574. I have large student loans(but all current), new mortgage(also large 200K, and never late), different CC's total of about 7 or 8. All are current and payments have been made regularly. The problem is that prior to starting 2 years ago I wasn't so religous about payments. So I have definitely learned the error of my ways, but how long am I to be punished for this.
The root of my question is this, I have looked and called many of these places that say they can improve your credit by the appeals process. I am wondering is this a legal thing? I know that it would be paying for something I could do myself, but I am wondering if these places are legit. They make lofty promises, can they keep them? At this point I will do anything to see my score go up.
I figured I could ask this here since the subject is the same... I spoke with a rep from Kay jewelers about the possibility of removing a late from '03... after researching the validity of the late payment she told me that she would not be able to remove the late payment from reporting... Would it still be worth it to send along a GW?
Keep sending, there are probably more than a few reps.
You can change the wording if you want, or find out if there are any people you can send the letter directly to, like executives, or a special address or department. A lot of the time people give crap answers on the phone but it isn't true. People have a lot of successful tactics and persistence pays off.
You can also google "kay (or the creditors name)" and "GW letter" or "goodwill" in hopes of finding someones successful news.
Who knows, I found the address that someone had used that was successful for one of my creditors and also sent a copy of my letter to that address, as well as the address listed on my report.
People use Planetfeedback.com to get in touch with CEOs and high level execs who can handle it.
You can just keep sending the same letter (or different letters) to the address until you hear something positive back. Someone here also had success starting the letter "Dear Credit Reporting Specialist" and addressing it to the address but adding credit reporting department under the company name, so it was less likely some secretary threw it out.