Sent 2 letters out-how long should I wait?

Anonymous · ‎01-17-2008

Okay so I sent in a letter to a creditor that I owe $1540.00. I also sent them a check for 25.00 to show dh and my willingness to take care of the matter. (due to my pregnancy, I'm unable to work and I won't be able to make large payments to them until I return to work-looking around mid-april) I sent the letter on the 5th. I haven't received anything back from them but they have cashed the checked. Should I give it a few more days and send another letter or just wait it out?

Next, I was denied by Chase for a cc due to the library collections,(it was showing up not paid at the time of app) too many inquiries, and high balances-I wanted the chase card to help lower my util until I'm able to pay it down... so I sent in a recon letter. Also on the 5th and still no response. Should I resend it? the same letter or try a different approach?

thanks!
Alisha

Anonymous · ‎01-18-2008

bump

llecs · ‎01-18-2008

AlishaR wrote:
Okay so I sent in a letter to a creditor that I owe $1540.00. I also sent them a check for 25.00 to show dh and my willingness to take care of the matter. (due to my pregnancy, I'm unable to work and I won't be able to make large payments to them until I return to work-looking around mid-april) I sent the letter on the 5th. I haven't received anything back from them but they have cashed the checked. Should I give it a few more days and send another letter or just wait it out?

Next, I was denied by Chase for a cc due to the library collections,(it was showing up not paid at the time of app) too many inquiries, and high balances-I wanted the chase card to help lower my util until I'm able to pay it down... so I sent in a recon letter. Also on the 5th and still no response. Should I resend it? the same letter or try a different approach?

thanks!
Alisha

What kind of letter did you send? What did you ask them to do or what have you received from them in writing in exchange for the payment? If I mid-read this, please forgive me. Ideally, you don't want to send anything to the creditor that could be used against you in the future (i.e. an acknowledgement). Based on what you wrote, they don't have to respond to anything. It is not too late to send a PFD asking them to agree to your payments terms in writing in exchange for payment(s).

As per Chase, you should order your reports via MyFICO for all 3 CRAs and see where you are score-wise. Compare Chase's reasons and make sure they jive with what it says in your reports. Also, compare your scores with others who appd for Chase (there's a couple of good sites out there for that; links abound in this forum). You probably want to have scores in the upper 600's with no recent CAs or charge-offs, judgements, etc. Having too many inquiries is an issue but can be offset with a high score and paying down your CC balances to less than 10% would help your scores.