Account removed after GW letter?

[norcalive]

I recently mailed out 3 GW letters for some late payments I had back in late 2011 and early 2012. (Bank of America, Merrick Bank, Chase)

I received a response from Bank of America, standard letter saying that everything we reported is accurate etc..

I haven't received a response from Merrcik Bank

I haven't received a responce from Chase but when I checked my report today I noticed that the account is completely gone from all 3 reports. Is this normal? Will it come back, what does this mean?

[RobertEG]

If it is an account that is otherwise closed and paid, they are likely simply doing some prudent houscleaning by removing any and all future need to review the account for any updates or to be bothered by any additonal credit reporing issues sent by you.

You have obtained deletion of the derogs, but also of any possible postive affects, such as age of the account in your AAoA calculation

While unlikely that if they swept the floor they would want to reinsert the account, they could legitimately do so at any time.

[norcalive]

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@RobertEG wrote:

If it is an account that is otherwise closed and paid, they are likely simply doing some prudent houscleaning by removing any and all future need to review the account for any updates or to be bothered by any additonal credit reporing issues sent by you.

You have obtained deletion of the derogs, but also of any possible postive affects, such as age of the account in your AAoA calculation

While unlikely that if they swept the floor they would want to reinsert the account, they could legitimately do so at any time.

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Thank you for the info. The account was paid in full and has been closed in late 2013. I have two other accounts with a similar situation. Should I push to have those removed or is it better to have the derogs and a higher AAoA?

[Anonymous]

I guess it depends.  General theory around here is that 30-60 day late payments only impact your scores for 2 years or so, so if you're looking at stuff from 2011-2013 you likely won't see a score increase from getting them removed or the account deleted.  However, even if they don't impact your score potential lenders can still see them regardless.  If you are talking 90+ late day stuff, I suggest combating those with GW letters regardless of their age unless they are 6.5 years old or something and due to drop off in a few months (7 years).  AAoA I don't think should be a huge concern unless you have a super thin file.  How many accounts do you currently have (open + closed in the last 10 years) and what is your current AAoA? 

[norcalive]

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@Anonymous wrote:

I guess it depends.  General theory around here is that 30-60 day late payments only impact your scores for 2 years or so, so if you're looking at stuff from 2011-2013 you likely won't see a score increase from getting them removed or the account deleted.  However, even if they don't impact your score potential lenders can still see them regardless.  If you are talking 90+ late day stuff, I suggest combating those with GW letters regardless of their age unless they are 6.5 years old or something and due to drop off in a few months (7 years).  AAoA I don't think should be a huge concern unless you have a super thin file.  How many accounts do you currently have (open + closed in the last 10 years) and what is your current AAoA? 

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Thank you for the reply. I have a 120 day late on the B of A account, so it sounds like it would be good to have that removed. I would have 4 more years before it falls off. My current AAoA is 4.3 yrs, 4.8 yrs and 5.6 yrs. 

[Anonymous]

I don't have any experience at all with BoA with respect to GW adjustments, but I'd push for them to halve your 120+ day late to a 60 day since it's probably about 3 years old now and if they adjust it to a 60 day it wouldn't impact your score.  Eliminating it of course would "look" better, but that could be asking for a lot.

I've been trying to get a 120+ day removed since February and have gotten 3-4 denial letters so far.. through Synchrony though, not BoA.  It's tough but all you can do is keep probing away.

[norcalive]

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@Anonymous wrote:

I don't have any experience at all with BoA with respect to GW adjustments, but I'd push for them to halve your 120+ day late to a 60 day since it's probably about 3 years old now and if they adjust it to a 60 day it wouldn't impact your score.  Eliminating it of course would "look" better, but that could be asking for a lot.

I've been trying to get a 120+ day removed since February and have gotten 3-4 denial letters so far.. through Synchrony though, not BoA.  It's tough but all you can do is keep probing away.

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Very true. I will give it a shot. Thank you again for all your help!

[gdale6]

In Fico 8 there is evidence a 60 day late can still affect ones Fico over the entire time its on file. A 30 still seems to not affect after 2 years. When asking for GW you want them to remove the late in its entirety there really is no reason to ask for a 120 to go to a 60 as that would be knowingly reporting false into. When a creditor commutes a late in an account its typically done by just removing the reporting for that month in its entirety and inserting a NR or ND which means no date for the month.