Reply
Valued Contributor
Posts: 1,072
Registered: ‎02-06-2013
0

Re: 6 year old deliquency. early removal?


bluj wrote:

Should I call for this goodwill deletion or email? I have emailed Great Lakes on one of mine and they did a goodwill deletion, I am not having any success with Wells Fargo on another however, and this US DEPT of EDU loan has the biggest mark on my account.


    Most prefer not the email route. When I was sending GWs to BofA they said they have to have it in writing. If I were you I would submit in writing then follow up with a phone call or second best call and follow up with it in writing. If you are truly determined then you will do what many here do and try all three and keep trying to communicate any way til you get results. Having stuff in writing creates a paper trail that companies often respond to better than anything else. With GW letters companies are not obligated to help you so be sure your tone is upbeat and friendly for the best chance of success. Same if you call. There people have to deal with difficult people all day. Better to be the friendly burst of sunshine in their otherwise drab day for the best chance for them to go out of their way to do you a special favor. Good luck.

390/14001100/13001500/15001699/2000Prepaid ,,Recent scores:FICO EX 632,EQ 635,TU 632.. If youlike this could you please give me a kudo by clicking that blue button over to the left? Thanks.Link to my Rebuild Log
Valued Contributor
Posts: 1,072
Registered: ‎02-06-2013
0

Re: 6 year old deliquency. early removal?

[ Edited ]

  You should definately dispute it. if it is truly out of the system then the CRAs will not be able to verify it and they will delete it. Either way it is old and wont affect your score that much. It is true what others are saying about it maybe having a positive affect on your AAoA however. When you are looking to get a mortgage lenders and going to look ar your score and your credit report in general. As I understand your initial question, you seem concerned that they will frown on this record and want it off your CRAs more so that possible lenders dont see it than for its numerical conseequences on your score. Either way it just isnt that big of a deal and certainly should not be a deal breaker for a mortgage. You obviously have been doing your homework and you are obviously prepared to explain it should a lender as you about it so that the most important thing.

390/14001100/13001500/15001699/2000Prepaid ,,Recent scores:FICO EX 632,EQ 635,TU 632.. If youlike this could you please give me a kudo by clicking that blue button over to the left? Thanks.Link to my Rebuild Log
New Visitor
Posts: 1
Registered: ‎02-24-2013
0

Re: 6 year old deliquency. early removal?

Hi, how do you do a GW deletion?thanks
New Member
Posts: 7
Registered: ‎06-29-2007
0

Re: 6 year old deliquency. early removal?

I seriously doubt a 30-day late from 6+ years ago is hurting you by 30 points.  I could be wrong. 

Valued Contributor
Posts: 1,072
Registered: ‎02-06-2013
0

Re: 6 year old deliquency. early removal?


palangga15 wrote:
Hi, how do you do a GW deletion?thanks

    You figure out who to write to first of all. It will be the creditor not the credit reporting agency. Then you come up with a compelling argument as to why they should delete your record and you present it to them in a positive optimistic way. A standard response will be that they don't delete accurate records from credit reports. So you go over that persons head in a polite way and explain why your situation is special and it would be really great if they could make an exception just once. It is in the creditor's power to delete a record from your credit report. It is just a matter of convincing them to do so. There are several resources on this site with examples of  successful GW letters. You can go up to the search on the top right of your screen and type GW letter to locate some or look at the section at the top of the rebuild your credit forum where there is a link to some. Good luck. If you try hard enough you are likely to successed eventually. If the company becomes convinced that the path of least resistance is to just delete it from your report then you can count on them taking the easy way out and helping you. There are also numbers and contact info for top executives here. Be creative and you will go far. Good luck.

390/14001100/13001500/15001699/2000Prepaid ,,Recent scores:FICO EX 632,EQ 635,TU 632.. If youlike this could you please give me a kudo by clicking that blue button over to the left? Thanks.Link to my Rebuild Log
New Member
Posts: 11
Registered: ‎05-12-2012
0

Re: 6 year old deliquency. early removal?

Since this late payment is over 6 years old, it has little impact on your credit score anyway.  I would not be concerned about this if your goal is only improving score.  If you have it removed, probably would only net a 2-4 point increase anyway.


Starting Score: 695
Current Score: 768
Goal Score: 775

Wallet: AAdvantage Citibank, Discover, Capital One
Take the FICO Fitness Challenge
Moderator
Posts: 22,406
Registered: ‎01-17-2008
0

Re: 6 year old deliquency. early removal?

[ Edited ]

A 90 day late is considered a major derogatory and will impact your score for almost 7 years.

 

If it was just a 30 day late it would only impact for around 2 years.

 

Each late will fall off 7 years from its occurence.  When the last one falls off the TL will again become a positive account and stay on your CR for up to 10 years from the date closed.

 

It is not like a collection and CO where the entire TL is removed after 7.5 years.

New Visitor
Posts: 1
Registered: ‎02-24-2013
0

Re: 6 year old delinquency. early removal?

I too have a few old Student loans (12 Loans 1x 90 days all on ea May 2006 on all 12)  on my credit for the last 6 years and 9 mo's that has my score shot to hell if there is away to have them removed I would like to know. I have them all paid off for the past 4 years and want to buy a new home soon my score is now  637, 633, 648. All of my CC are pd on time and have never been late on any thing .it has taken me 5 yeras to get my grand kids ER bills off my C R thank goodniss they are gone now the bills ( not the G Kids)

 

New Member
Posts: 5
Registered: ‎02-01-2013
0

Re: 6 year old deliquency. early removal?

I don't understand. What difference does e-Oscar make? If the lender has no record, they can use a Vulcan mind-meld and they still can't verify. Period. End of discussion.
Moderator
Posts: 22,406
Registered: ‎01-17-2008
0

Re: 6 year old deliquency. early removal?


Mr_FYI wrote:
I don't understand. What difference does e-Oscar make? If the lender has no record, they can use a Vulcan mind-meld and they still can't verify. Period. End of discussion.

You would think that but it isn't true.  Why do you think half of the disputes you know couldn't be verified get verified.  Because it is based on a computer verification system.

Every dispute is reduced to a 2 character code and supporting documentation is NEVER sent to the information furnisher.

 

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.

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

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com 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.