Chase GW letter

[jchem99]

I have seen a number of threads on myfico regarding successful acceptance of GW letters sent to Chase to remove CO's. They seem to be heads above other CC carriers in forgiveness and many are reporting this describing how easy it was to get them to agree. However, comparing this site with some others it sounds like its really a matter of getting a hold of the correct contact, office, etc. "and" there seems to be some relationship to the amount settled and date of settlement (more recent being worse). Larger sums settled in past 3 or 4 years seem to have less success.

I had a very large settlement with Chase in 2009 for 16K on a 30k balance.  It was my only settlement,three other cards have always been paid on time and are in good standing but this settlement destroyed my credit score which Im trying to quickly rebuild for a land purchase which needs to be 680 or greater. My Equifax FICO is 615 (havent checked other two). Im also carrying 2 high balances on my other cards (approx 90%) which I know is contributing but Im currently paying them down. So Im in great need of some feedback on two items related to this post.

#1- how damaging is this CO to my credit report. I've read it will have much less impact over time but does that mean past a 7 year time frame? And how much would my score improve should Chase agree to remove it?

#2-  Does anyone have a reliable contact or address at Chase to send this letter to? I saw one thread where everyone seemed to be having great success with a particular contact but I couldn't seem to get a response from the original poster?

Thank you in advance

[kjb1314]

I need to sen a GW letter to chase CC.  I have never been late or missed a payment but would like to get interest rate lowered.  Always paid in full, but last year had medical situation requiring me to max out card.  Would appreciate information on email address to send GW request.

[sunshine24]

Google the address for the Office of the Secretary in NYC and send a letter. Make sure you include your phone number. I made on-time payments on a settlement and sent a GW letter. They called me upon receipt of my letter and have agreed to delete the entire account when paid in full (next month!). Nobody can tell you exactly how much your score will improve if deleted. I would say that the 90% utilization is negatively affecting your score too. Try to pay down your balances as much as you can. I've been working on paying mine down and my score has greatly improved.

[kjb1314]

Thank you for the response, I attempted several Google inquiries but was unable to find any email address.  Do you have any suggestions?

[sunshine24]

I sent my letter via postal mail. Look for the postal mailing address.