Would it be wise to send a GW letter on a Citifinancial loan that has been paid and closed since 2003...had 3 lates in 2003 and one late in 2002? How bad do these lates hurt my score being that they were 4-5 years ago??? Also, if sending the letter, do I address it to someone's specific attention or just to Citifinancial???
Also, I paid a medical collection account back in May 2006, but was never updated as paid to Equifax, so I disputed......they have now updated my report but now it has a Status date of 06/2007, but does show that it was paid in May 2006. Does that status date hurt me at all, or should I send a GW letter to them???
Thanks guys....this site is a true lifesaver/eye opener!!!!!
If it is reporting as current and paid as agreed, there is probably not too much effect on your score from 4-5 years ago, however, a good will letter can not hurt. The worst that can happen is they do nothing and obviously the best is that the lates will be deleted. I am not 100% positive, but I believe that it is lates in the last 24 months that are the most damaging to your score..
I have to agree with Dazedandconfused, I can't see how it worth hurt. And it would not be unwise to send it. So go ahead, if they say no, you're right where you are at now. And after 4-5 years, the effect on your score is minimal. Best case, you get a couple points, worst case you stay right where you are right now.