I am really trying to get my credit in line as i am in the military as i stated in other post. My wife over drew an account and did not inform me until a day before i was to be charged off and sent to collection. I could not make it to the bank in time that day but made it the next day and paid it off. They failed to report that i paid it off and not only that they ended up owing me money. As far as getting this off my credit report will a GW letter be good for this? They are a military focused bank and they understand how important it is for military personnel to maintain a good credit history. I plan on sending in a GW letter and calling as well as going up to the branch and talking to someone. Over the past few months i have managed to get one item removed as well as the late payments and they shot my score up from 476 to 541.
Starting Score: 643 Current Score: 657 Goal Score: 700
Jenkins... first, from all of us, thank you for your service to our country.
Second, the bank can actually reverse your "charge-off" status immediately if you find the right person to work with. Be diligent, do some research, and find out the name of the president of that bank. Then find a way to call him/her and that's where it could get tricky. If it's a large bank they'll likely have layers and layers of people in place to try and KEEP you from reaching the bank president, but you can still do it.
If it's a small bank, you'll probably have greater luck. And when you DO reach this person, be courteous and explain your situation, and furthermore, explain that you need the charge-off status reversed. It's fairly plain to see that there was simply a time lapse and that you had every intention of paying this debt, which you did in fact pay.
You should be just fine. Now about your wife overdrawing that account...