To GW or Not to GW?

[Neblett]

That is the question.

I have a HFC signature loan that I opened in Jan. 2000, and closed (paid) in September 2001.  During that period it reported:

90 days late as of Aug '01

60 days late as of Jul '01

30 days late as of June '01, March '01

This account is on my EX and EQ reports (but not TU).  On the EQ report, it reports as "Paid as Agreed" with no late payments, but on the EX report, the above notations are posted.  Should I send a GW letter to see if they will remove it?

I am concerned that they will say no, and send an update to EQ, which could bring down my score, but if they say yes, it will remove a major derogatory from my Experian file and help that score.

It is scheduled to drop off in 2008 anyway.  Should I just let sleeping dogs lie?

Has anyone had luck with HFC in this kind of situation?

[chartley3]

To be honest with you I would do a GW letter and see what happens. Since the TL will fall off your report in Aug of 08 its not really hurting your score as much now. All you have to lose is about 15 mins of your time to write it and .41 stamp to mail it

[Tuscani]

I would also try GW.

[SmartCookie]

The tribe has spoken   

[Neblett]

I think I was gun-shy because I received a snippy phone call from a CA today refusing to honor my GW request I sent them.

Grr.

[Tuscani]

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Neblett wrote:

I think I was gun-shy because I received a snippy phone call from a CA today refusing to honor my GW request I sent them.

Grr.

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Don't let it get you down.

Be persistent!

[Anonymous]

I have sent out a first round of goodwill letters.

What I HAVE noticed is that even though most of the replies indicate that "we're sorry, the information is accurate, there is nothing we can do," subtle changes ARE taking place in those items. I have received a number of alerts stating that the status of some of those same accounts has improved (even though I can't tell why when I read the explanation). My myFICO score has gone up 26 points in the past five weeks.

Apparently this is an incremental process. I've even sent out letters thanking them for turning down my request for goodwill and looking forward to doing business in the future.

How long should I wait before I send out a new round of letters?

Thanks!

[Anonymous]

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Jeanniee wrote:
I have sent out a first round of goodwill letters.

What I HAVE noticed is that even though most of the replies indicate that "we're sorry, the information is accurate, there is nothing we can do," subtle changes ARE taking place in those items. I have received a number of alerts stating that the status of some of those same accounts has improved (even though I can't tell why when I read the explanation). My myFICO score has gone up 26 points in the past five weeks.

Apparently this is an incremental process. I've even sent out letters thanking them for turning down my request for goodwill and looking forward to doing business in the future.

How long should I wait before I send out a new round of letters?

Thanks!

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LOL.........way to make em feel bad.  Good on ya! 

Wait a few months and then go again. 

I think of Tim Robbins in 'The Shawshank Redemption', how many letters did he send asking for books for the library??  In the end he got books, money and the promise of more, as long as he never wrote them another letter..........that's my inspiration me

[Anonymous]

What exactly is a GW? I think I have an idea. I have a paid collections from sprint ($25) that I would like to get removed. Any suggestions on what to do? I only recieved one letter from them saying my account was in collections. I thought it was a bit odd because they made no effort to contact me and let me know that I owed any money--until i recieved the letter