GW letters - denied

[Anonymous]

I've been working to repair my credit, and have gotten some good results (but not good enough - I'm, still in the low 600-655 ). I sent GW letters to Citibank (I had two accounts, one closed/charge off/paid, and another reopened but with lates), and it worked for the closed account. They didn't really address my request for the open account - the late payments were over two years ago (maybe three).

Ford (whom I have had three accounts. Two prior accounts have late payments. I have my current car, with no late payments at all since July 2005) and  WWFN (Express, Victoria's Secret, The Limited) denied my request.

I'm sure that this has been addressed on the forum, but I can't find it. I want to know whether it is worth it to resend these good will letters to Ford and Citibank.

Last time I sent a good will letter to WWFN, they decided to again report the debt to the bureaus, which resulted in them starting to report these accounts again (they were not reporting for a long time) and an initial drop in my credit score by 50 points because one of the accounts was not paid off ( I since paid it, and got my score back up). I don't think I should go back into this landmine.

[Anonymous]

A GW letter is merely a request to have a baddie removed, based on you being a good person, and are displaying sound credit & paying practices(now).

As it is only a request, they have the right to deny that request.

I too had a Ford Credit account, with 4 baddies over the life of the loan. While I had the loan, I always paid more than the stated amount. Most times I would make twice the statement amount.

I paid the loan off(in advance)in August and tried to GW them in early Oct......request denied.

Some lenders are more approachable to GW'ing, and some aren't.

To me, it's always hit or miss, but ALWAYS worth the try.

[Anonymous]

Thanks. I wasn't sure if it was worth it to send another letter. Based on Ford's credit situation, you'd think they would be more amenable to these requests