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Almost out of debt=wanting to buy a home.

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mamahearts
Frequent Contributor

Re: Almost out of debt=wanting to buy a home.

Thanks so much! It's been a long road but we really didn't have any other choice.  I worked out our budget last night for the rest of the year and we should have the last of the medical bills paid off by November.  I'm going to celebrate when we get the rest paid off! Smiley Happy  When I first started paying this collection agency we owed thousands and they were so rude and treated me like a deadbeat.  So I was really determined to pay this off.    I called yesterday to find out how much remains and it's $80.  She said wow! That made me happy.

 

 

myFICO starting TU 683 8/26/11
myFICO starting EQ 645 8/26/11
myFICO EQ 652 9/26
Message 11 of 18
mamahearts
Frequent Contributor

Re: Almost out of debt=wanting to buy a home.

Since you've had success with this, would you critique my GW letter to the CA?  Thanks!

I would appreciate anyone else's input as well! Thanks!!!

 

 

CA
Regarding: Account No.

 

In 2004 I had an unexpected medical emergency which led to surgery, that in turn led to thousands of dollars in medical bills that we were not prepared to pay. I had attempted to work with the Hospital business office but they couldn't accept the $50 biweekly payments I offered. After fruitless negotiations, they turned the debt over to you.

 

We set up a payment plan with CA to make monthly debits from our checking account and we've gradually repaid our debt. Now that our account is paid in full, this account is in good standing, we would like to pursue a mortgage in the near future. As we've diligently repaid these and other debts, we've learned from this experience and we appreciate the time and reasonable payment arrangements you've given us to fulfill our obligations.

 

As there were multiple bills from Clinic and Hospital, there are multiple records on our credit report. We are asking if you would, in a gesture of good will, remove duplicate items from our credit reports with Transunion, Equifax and Experian as each trade line negatively impacts our FICO score.


Thank you for your time and consideration.

myFICO starting TU 683 8/26/11
myFICO starting EQ 645 8/26/11
myFICO EQ 652 9/26
Message 12 of 18
Anonymous
Not applicable

Re: Almost out of debt=wanting to buy a home.

That's a great letter!  I've written three similiar letters and they worked for me.  

If you can, try to address it to the name of an accounts manager or whomever signed your paid in full letter.

Message 13 of 18
mamahearts
Frequent Contributor

Re: Almost out of debt=wanting to buy a home.

Thanks so much, I'm happy to see that you've been successful writing similar letters.  Would you mind sharing the verbiage you've used? Thanks!  

 


MHCali wrote:

 

That's a great letter!  I've written three similiar letters and they worked for me.  

If you can, try to address it to the name of an accounts manager or whomever signed your paid in full letter.


 

myFICO starting TU 683 8/26/11
myFICO starting EQ 645 8/26/11
myFICO EQ 652 9/26
Message 14 of 18
Anonymous
Not applicable

Re: Almost out of debt=wanting to buy a home.

 

I had actually got this letter somewhere on the web and just inserted my story.  It seems cheesy but it's true and sincere.  Sorry about the spacing, bad cutter and paster.

 

XXXX
 XXXX,XX XXXX

4/23/11

 

XXXX

 969 Mica Dr. 

Carson City, NV 89705

 

Regarding Account #XXXX

 

Dear XXXX: 

 

My purpose for writing this letter today is twofold; one is to thank you for giving me the opportunity to take care of my balance from long ago and the second is a humble request to have my account information removed with regards to the negative listing.

 

I had visited St. Rose Hospital back in 2006 due to a pulled muscle in my back.  Was it not for my wife having constant medical problems at that time(Addison’s disease diagnoses and gastro paresis) being quite a distraction to my responsibilities, I’d have a spotless payment history.  I was constantly making sure that her procedures were covered and mine took a backseat.  I understand my obligation to pay my hospital bills and have worked diligently to amend my relationship with my creditors since that time-I have gone over two years without a late payment on any account.

 

Since then I believe I have learned the essential organizational and financial management principles I desperately needed. Thankfully, responsible credit management is now reflected in my credit records which, excluding the negative account from National Business Factor, are excellent. I wish to thank you for reviewing my request and hope that my payment in full will give you the confidence to give me another shot at a clean credit history, one that I am determined to keep spotless in the future. 

 

I would like to thank your staff for treating their debtors like people and with respect, and I humbly request your consideration. I appreciate your time and I respectfully hope for a favorable decision from your department soon.     Thank you again.

 

Regards,

 

me

 

Message 15 of 18
mamahearts
Frequent Contributor

Re: Almost out of debt=wanting to buy a home.

 

Thanks for sharing your example.  I think yours sounds good.   

 So now that I have an idea of what to do for the GW letters, I'm wondering about our revolving accounts.  Should we increase our util of our CC? Best to buy keep our balance low or what? 

 

Another question.  Do I need to worry about our credit mix? My husband has a credit card and student loans, I have a credit card and a store card. 

Thanks again!

 

 


 

MHCali wrote:

 

I had actually got this letter somewhere on the web and just inserted my story.  It seems cheesy but it's true and sincere.  Sorry about the spacing, bad cutter and paster.

 

XXXX
 XXXX,XX XXXX

4/23/11

 

XXXX

 969 Mica Dr. 

Carson City, NV 89705

 

Regarding Account #XXXX

 

Dear XXXX: 

 

My purpose for writing this letter today is twofold; one is to thank you for giving me the opportunity to take care of my balance from long ago and the second is a humble request to have my account information removed with regards to the negative listing.

 

I had visited St. Rose Hospital back in 2006 due to a pulled muscle in my back.  Was it not for my wife having constant medical problems at that time(Addison’s disease diagnoses and gastro paresis) being quite a distraction to my responsibilities, I’d have a spotless payment history.  I was constantly making sure that her procedures were covered and mine took a backseat.  I understand my obligation to pay my hospital bills and have worked diligently to amend my relationship with my creditors since that time-I have gone over two years without a late payment on any account.

 

Since then I believe I have learned the essential organizational and financial management principles I desperately needed. Thankfully, responsible credit management is now reflected in my credit records which, excluding the negative account from National Business Factor, are excellent. I wish to thank you for reviewing my request and hope that my payment in full will give you the confidence to give me another shot at a clean credit history, one that I am determined to keep spotless in the future. 

 

I would like to thank your staff for treating their debtors like people and with respect, and I humbly request your consideration. I appreciate your time and I respectfully hope for a favorable decision from your department soon.     Thank you again.

 

Regards,

 

me

 


 

myFICO starting TU 683 8/26/11
myFICO starting EQ 645 8/26/11
myFICO EQ 652 9/26
Message 16 of 18
Anonymous
Not applicable

Re: Almost out of debt=wanting to buy a home.

I hear to let CCC report a util. at 9%.  As far as seeking out new credit for better mix, it might depend, i'd see if someone else chimes in.

Message 17 of 18
mamahearts
Frequent Contributor

Re: Almost out of debt=wanting to buy a home.

Thanks!  Anyone else? 
@Anonymous wrote:

I hear to let CCC report a util. at 9%.  As far as seeking out new credit for better mix, it might depend, i'd see if someone else chimes in.


 

myFICO starting TU 683 8/26/11
myFICO starting EQ 645 8/26/11
myFICO EQ 652 9/26
Message 18 of 18
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