General Credit Topics

[Schoolbuskid]

It depends on who was reporting the collection. If it was the OC then send GW to OC, if i was CA reporting then send GW to CA.

You just gotta know who is reporting it!

[looking_forward]

Hi everyone.  I am new here and got the idea of writing a letter to my creditors from reading this forum.  I wrote one today and would like some advise on it. 

Dear sir or madam,

From the end of 2006 to present, I have been dealing with a bad case of depression.  Unfortunately, because of this, I was unable to deal with or pay my financial obligations.  After several medication changes in the last year, I am finally feeling better and ready to deal with my current financial situation.

I honestly regret having gotten so behind on my bills and have put your company in this situation.

What I am hoping to accomplish with this letter is to make payment arrangements with you and if possible, maybe you could waive some of the late fees.  I completely understand if this is not possible.

Since I will be sending this letter to all my creditors, I would hope that you could accept a $25 a month payment.

I sincerely thank you for reading my letter and considering my request.  I hope that at some point in the future, we will be able to do business again.

Now,  I have a few questions. 

• The different credit bureaus are reporting 2 different addresses on my credit report.  Which one do I send the letter to?  Both?
• I have an old auto loan from the end of 2003 that is paid.  The acct. status is showing 30 and 60 days late.  Do I need to write a letter to the creditor or dispute this through the credit bureaus?  Is this affecting my FICO. 
• If I write the letters to the original creditors and they accept payment arrangements, will the calls from the CA stop?
• Should I hand write the letters or print out from the computer?

Thank you in advance for reading my post and for helping me out.  My Equifax FICO is 515.  I am trying to get it up to 600 within the next 6 months or less so I can try and buy a condo.  I am hoping the letters will help.

Sherri

[haulingthescoreup]

Hi, Sherri, welcome to the forums! Sorry to hear that you've been going through tough times, and I'm glad they're starting to turn around.

What you wrote is not exactly a GW letter, but it's also not exactly a PFD (pay for delete) letter either, as you are trying to get them to accept a payment plan. So we're going to need to get some input from others regarding asking for a payment plan.

In the meantime, I would remove references to your exact diagnosis, and substitute a statement that you were dealing with a difficult medical condition (which you were), fell behind on your bills, but are now recovering and anxious to get back into good standing with your creditors. It's no one else's business other than yours and your healthcare providers what is going on with you medically, and unfortunately, there are still a lot of people out there who are pretty judgmental about mental health problems.

Finally, I would ask that you start this identical post as a new thread here on the same forum (General Credit Issues.) Since it is asking about something different than GW, it really needs its own post. All you have to do is click on your post, copy it, click "New Thread" at the top of the board, and paste it there. Be sure to add a subject that specifically describes what you're trying to do, like Trying to set up payment plan, or something similar.

If you have any trouble, please pm me by clicking the envelope up at the top right of your screen.

[looking_forward]

Hi and thank you for answering my post and your suggestions.  However, I have not recieved any feedback on the letter itself. 

http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&thread.id=78925

Any suggestions on what I need to do or say for advice?  I think I will also post a link to this thread and see if that gets something going.

Thanks again.

[AJW]

Hopefully, someone can help me on this.

I have 3 negative reportings on my credit report; a charge-off from Dell, a medical collection, and a paid closed credit card account with past late payments (120 days).  Each item happened while I was in college (around 4 years ago).  I had very little to no funds, and jumped at the chance of getting something "on credit".  At the time, I didn't know anything about cherishing and protecting my credit.  However, now I'm in the "real world", and realize how my past decisions have come to bite me in the behind.

I'm trying to get these three things off my credit report, but don't know where to start.  I called the people that handled my Dell account and my medical collection, and they both stated that they have stop reporting this info to the credit agencies.  They also stated that I need to dispute this with the credit agency.

I see there are goodwill letters addressed to creditors but credit reporting agencies.  How can I get those items off my credit report without paying alot of money?  I want to buy a house real soon.

Any help is appreciated.  Thanks.

AJW

Message Edited by AJW on 03-04-2008 06:10 PM

[shantini]

Hope somebody can help me with this; I have a circuit city card that we opened in Michigan. We moved to California and a couple of years ago, bought a laptop from circuit city during a promo. circuit city did not update my old address with the new one (my mistake i guess), as a result we never got a single statement. we let it pass off thinking that it was a promo and no payment was required for one whole year. anyway, few months later we got a letter from a CA. We pulled our credit and realized that we had a 90 day late after which circuit city sold our account to the CA. we paid the full settlement amount immediately. my credit report shows this as a circuit city account as a paid chargeoff/account closed by credit grantor. My question is whom should I write the goodwill letter to have this removed: my original creditor - circuit city or the collection agency whom I paid the whole amount to. I would really like to get started on this and would appreciate it if someone can let me know.

[OZ]

Hello all,

I posted a question under a tread titled 7yrs.

Basically I'm trying to figure out if I can send  GW letters to Pay day loan companies that I used back in 2002-2004. I took maybe 18 different small loans out over the 2yr period. However I was never late on a payment and I paid all loans off in full.

Here's my dilemma, with all these paid off accounts and adding my current credit cards, auto loan and mortgage. I have way to many accounts combined (open & closed)

Having all these loans on my credit report shows lenders that I could potentially be a credit risk. Which I'm not anymore. Just a bad decision I made at that time in my life and it compounded.

How can I try to get these accounts off my CR prior to them falling off after the 10yr period. Will a GW letter work or is there something else I can try?

Thanks!

[M-2008]

Should I send a GW letter for a Citi card settled in 2004? 

Most recent review of credit report shows it will be listed unitl Sept 2008.  It currently lists as "bad debt/collection."  Should I just wait it out 6 more months or send the letter?

[HappyDays]

Because it will drop in 6 months   I would file a dispute with all CRAs that are reporting....you might get lucky & it will delete

[grneydangl]

Strange Question:

Has anyone ever sent out GW letters for removing lates and the company did it but didn't send anything about it to you?