Credit Card Center Advertiser Disclosure

Valued Member
Posts: 46
Registered: ‎08-29-2007
0 Kudos

First Post and First GW Letter

I am so glad I found this website and forum. I have made steady progress over the past two years in paying off over $11k in credit card debt and, as of last month, I now have a $0 balance with all three of my old cards!

My main issue now is with my Wells Fargo school loans. I make one payment per month, but it goes to 10 different loans. Each loan reports late payments seperately, so I have a HIGH number of late payments on my CR. I typed up a GW letter tonight that I will send out in the mail today.

Thank you to the original author of this GW form letter. I modified it for my needs. Wish me luck!

August 31, 2007

Wells Fargo Education Financial Services
301 E. 58th St. N
Sioux Falls, SD 57104

Re: Account #

Dear Sir/Ma’am:

I have had educational loans with Wells Fargo Education Financial Services since 1997. During that time, I have been greatly impressed with the ease of the loan application process, the friendliness of the telephone-based customer service, and the wide variety and simplicity of the online Wells Fargo account services. I also wish to thank Wells Fargo for assisting me with the deferment process that I have had to utilize a few times in the past ten years. I am writing to see if you would be willing to make a "goodwill" adjustment to your reporting to the three credit agencies. I have ten Wells Fargo education loans, on the above referenced account, that date back to 1997. The current account balance is $xxxxx.

Because of my exceptional payment history over the last year, I would like you to consider removing the negative payments from my credit report. All loan payments have been paid electronically, via Electronic Funds Transfer (EFT), since late 2006. I set up the EFT payments to ensure that all future payments would be made in a prompt, efficient manner. While I continue to make a single monthly payment that encompasses all ten loans, each of the prior late payments is counted individually for each loan. Essentially, the late payments are multiplied by a factor of ten. This has resulted in an extremely high number of late payments being reported to the three credit agencies. At the time of the most recent late payments, I was in the process of finishing my degree and beginning my professional career. I say that not to justify why the payments were late, but rather to show that the late payments are not a good indicator of my actual credit worthiness. I genuinely hope that Wells Fargo Education Financial Services is willing to work with me on erasing these marks from my credit reports.

I have been a very happy customer in the past and will continue a long relationship with Wells Fargo Education Financial Services for the distant future. With today’s credit industry being so competitive, I know how important it is to maintain good relationships with customers. I am in the very initial stages of purchasing my first home and know that good credit scores, as reported by the three credit agencies, are vital to receiving a fair mortgage rate. As a Minnesota native, I would prefer to utilize a local bank for the mortgage process and would consider contacting Wells Fargo Home Mortgage for this important financial transaction. Wells Fargo Education Financial Services has been exceptional in my opinion so far and I highly recommend you to everyone I know that is applying for educational loans. I hope that you will deeply consider my request and prove, once again, why Wells Fargo stands alone at the top of the loan industry. I look forward to your reply.


Posts: 8
Registered: ‎07-16-2007
0 Kudos

Re: First Post and First GW Letter

Good Luck!  Maybe this will give you some hope..............My situation is almost identicle to yours.
I too have a WF Educational Loan, although only one loan.  I had a history of frequent late payments as well however, 3 years ago I signed up for automatic payments; of course everything has been paid on time since then.  I wrote WF a GW letter two months ago, they responded within 2 weeks and they have kindly removed all late payment history from all 3 CRAs. 
I hope you are as fortunate -  they seem to be a pretty fair company.
Nicely composed letter by the way!
Valued Member
Posts: 46
Registered: ‎08-29-2007
0 Kudos

Re: First Post and First GW Letter

Thanks for the reply. It gives me a lot of hope!
Valued Member
Posts: 46
Registered: ‎08-29-2007
0 Kudos

Re: First Post and First GW Letter

[ Edited ]
Well, I got my reply from Wells Fargo...

"Wells Fargo Education Financial Services recently received the correspondence you sent to us disputing negative reporting to one of the national credit reporting agencies. We have reviewed your account information and verified what we sent to the credit reporting agencies was accurate."

The problem is I know all the negative information was valid. I didn't send them a dispute letter, I sent a GW. Looks like I'll be sending another one, ensuring that I mention I am not disputing the negative information.

Does anyone have a name of someone at Wells Fargo Education Financial Serives? The GW I sent was just sent to the address in my CR.

Thanks in advance!

Message Edited by newFICOwatcher on 09-15-2007 11:09 PM

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
‡ Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.