GW letters

[Anonymous]

Hello All!!   My first post,..... how exciting!!

This may have been answered in another thread if so I apologize, lots of discussions on here.

Im in the process of writing up GW letters to send out. Can you please explain to me how these work in regards to can this negatively affect my FICO score? Will each pull my report to look at it causing a hard hit? or do they just review their records and adjust (if they choose to) the report that way?

Thank you for your time.

~Attagirl

[Anonymous]

I GWd two old credit cards asking to remove one 30 day late, each. Basically you just state who you are, what you're asking for, give a little sob story, and plead for their help.

They will not pull your report.

If they agree to the GW, they will make the change in their system. This does not mean that they'll immediately send something to the CRAs, they may just wait for their system to update CRAs as they would regularly each month.

On the other hand, they may just ignore your request completely or send you back something denying your request.

OR they may discover something else that isn't reporting, and report that. That would negatively affect your scores.

It rarely hurts to GW, espcially if you know there's nothing else out there that the creditor can do to your report to make it worse.

Good luck!

[Anonymous]

Thank you Shnapple for your reply!!

  I have another question.

 I have/had two CC accounts thru citibank which both got closed with payments arranged to payoff within 12 mo's for one card and 36 month's on the second card. I do not get finance or interest charges with the monthly balances. The payoff of the first card was completed last october but am continueing to pay off the 2nd card, about $3000 left to go.  I am contemplating paying that off within 3 months but would like to send GW's out for these accounts as well. (account 1 has (1) 30 day and (1) 60 day, account 2 goes up to 120 days, both happened during the same time frame.) Since both accounts go to Citibank should I wait for the 2nd account to be paid off before sending any GW's to them?

~~AttaGirl

   'Sometimes I feel like Im playing a game, just not sure which one... Life, ...Risk,...Sorry??'