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New Member
mebe17
Posts: 1
Registered: ‎09-05-2012
0

Chase Goodwill Adjustment

Hey Everybody!

 

I'm new to these forums and I have read that some people have had some luck getting a goodwill adjustment from Chase.  I am just starting to repair my credit and any help/advice about getting Chase to delete late payments from credit report would be so helpful.  

Valued Member
algorithmslave
Posts: 68
Registered: ‎09-10-2012
0

Re: Chase Goodwill Adjustment

I need help with the same bank as well. I have an unpaid charge off that I have offered to pay many times but specifically told me they would not attempt collection efforts no more. So the other day I called the number provided on my CR and spoke with a customer service agent who said she was going to send me a letter in the mail stating they will no longer try to collect and the account is closed. She also stated she will have collections stop hitting my credit with the 180 days past due each month. If I recieve the letter, my plan is to go directly for a complete deletion through the CB. Although, I am not sure if this will work or will be the best option as well. 

You can wrap me in your flag, make me say a praise to your creator and make me spend your currency, but remember this, I am a loyal servant to Justice and a Patriot to none. I am free...
Moderator
Shogun
Posts: 12,952
Registered: ‎04-15-2011
0

Re: Chase Goodwill Adjustment

How old is the account?   Have they assigned or sold to a CA?   There is the chance that they will put this as a CO and a CA could pop up anytime.


Starting Score: 504

July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+

Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
Valued Member
algorithmslave
Posts: 68
Registered: ‎09-10-2012
0

Re: Chase Goodwill Adjustment

[ Edited ]

if you are referring to mine, it has almost reached the state statute of limitations on revolving debt which I believe is 3 years. they have not sold to a third party collections but have sent it to thier own in house collections and listed it as a Charge off bad debt. I am not sure if they will sell to a third party or if they can still but everyone I talk too says not to pay them becuase it will start the 7 year over for reporting to my report. Not sure what to do with this thing? 

You can wrap me in your flag, make me say a praise to your creator and make me spend your currency, but remember this, I am a loyal servant to Justice and a Patriot to none. I am free...
Moderator
Shogun
Posts: 12,952
Registered: ‎04-15-2011
0

Re: Chase Goodwill Adjustment


algorithmslave wrote:

if you are referring to mine, it has almost reached the state statute of limitations on revolving debt which I believe is 3 years. they have not sold to a third party collections but have sent it to thier own in house collections and listed it as a Charge off bad debt. I am not sure if they will sell to a third party or if they can still but everyone I talk too says not to pay them becuase it will start the 7 year over for reporting to my report. Not sure what to do with this thing? 


They can keep it internal, assign it or sell it to a CA at any time.  Paying them will not start the 7 year of the DOFD.  If you enter into an agreement or sometimes acknowledge the debt is yours then this can reset it in some cases.  With it being outside of SOL only means there is no legal recourse of them coming after you using the courts by getting a judgement.  It does not however release you from the debt.  It will remain until paid. There is a CRTP of 7 years + 180 days that it can remain on your CR.  

 

Options you can do.

 

1.  Pay it outright.  Removes the debt but does nothing to improve your CR.

2.  Request a PFD, you pay, they delete.  Also, make sure you don't agree the account is yours.  You're just paying to get rid of it.

3.  Wait the time period of 7 years for it to fall off naturally.  You may get hit with nasty CAs calling and sending letters.

 

 


Starting Score: 504

July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+

Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
Valued Member
algorithmslave
Posts: 68
Registered: ‎09-10-2012
0

Re: Chase Goodwill Adjustment

@Shogun

 

thank you for the info....first I am not sure how to highlight, like you did, in a post what the person your speaking too says. Perhaps I will figure that out in do time. 

 

Second,

 

I have asked them before for a PFD and was denied. This was on the phone. In addition, my understanding is, once you pay your report it will show that date in the "date of last activity" spot, which I was told will reset the clock. In addition, right now it shows 28 times as 90+ days past due, meaning they are hitting me each month. In addition, it is effecting my debt to credit ratio. Meaning it is counting against my utilization on my revolving credit. I have asked them to verify the account and they sent me billing statements but no other info. The account was originally a Sharebuilder credit card sold to FirstUSA and then Chase. I am wondering if a all out dispute might work better once the three year SOL is up in Jan 2013?

You can wrap me in your flag, make me say a praise to your creator and make me spend your currency, but remember this, I am a loyal servant to Justice and a Patriot to none. I am free...
Moderator
Shogun
Posts: 12,952
Registered: ‎04-15-2011
0

Re: Chase Goodwill Adjustment


algorithmslave wrote:

@Shogun

 

thank you for the info....first I am not sure how to highlight, like you did, in a post what the person your speaking too says. Perhaps I will figure that out in do time. 

 

Second,

 

I have asked them before for a PFD and was denied. This was on the phone. In addition, my understanding is, once you pay your report it will show that date in the "date of last activity" spot, which I was told will reset the clock. In addition, right now it shows 28 times as 90+ days past due, meaning they are hitting me each month. In addition, it is effecting my debt to credit ratio. Meaning it is counting against my utilization on my revolving credit. I have asked them to verify the account and they sent me billing statements but no other info. The account was originally a Sharebuilder credit card sold to FirstUSA and then Chase. I am wondering if a all out dispute might work better once the three year SOL is up in Jan 2013?


The DOLA does not affect the clock of the CRTP.   Only the DOFD.   Yes those lates are killing you.  What makes it a little better with the SOL is you can sometimes strong arm a negotiation out of them.  This usually works with the CAs better though.  Saying, well if you won't work with me, then I'll just sit and wait it out until it falls off in 2 years.  That will sometimes change their mind.


Starting Score: 504

July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+

Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
Valued Member
algorithmslave
Posts: 68
Registered: ‎09-10-2012
0

Re: Chase Goodwill Adjustment

@shogun

 

Not sure if this is good or bad but I just recieved a push notification from my EQ account telling me Chase has changed the account status of my charged off account as described above in past post. Now it does not reflect 180 days passed due each month instead they went back 2 and half years and now changed the report to reflect a "CO" in the month spot where it used to say 180 days. I am not sure how this will effect the FICO score. I did pull another score from EQ after the notification and the score did not change, yet. I have not heard from FICO yet. I hope this helps me atleast a little? 

You can wrap me in your flag, make me say a praise to your creator and make me spend your currency, but remember this, I am a loyal servant to Justice and a Patriot to none. I am free...
Valued Member
algorithmslave
Posts: 68
Registered: ‎09-10-2012
0

Re: Chase Goodwill Adjustment

Just recieved the score watch alert from FICO.....no change in the score although the email said there was positive changes made to the account.....I wonder if this is a hurry up and wait game? 

You can wrap me in your flag, make me say a praise to your creator and make me spend your currency, but remember this, I am a loyal servant to Justice and a Patriot to none. I am free...
Moderator
LIGHTNIN
Posts: 4,081
Registered: ‎03-24-2008
0

Re: Chase Goodwill Adjustment


algorithmslave wrote:

@Shogun

 

thank you for the info....first I am not sure how to highlight, like you did, in a post what the person your speaking too says. Perhaps I will figure that out in do time. 

 

Second,

 

I have asked them before for a PFD and was denied. This was on the phone. In addition, my understanding is, once you pay your report it will show that date in the "date of last activity" spot, which I was told will reset the clock. In addition, right now it shows 28 times as 90+ days past due, meaning they are hitting me each month. In addition, it is effecting my debt to credit ratio. Meaning it is counting against my utilization on my revolving credit. I have asked them to verify the account and they sent me billing statements but no other info. The account was originally a Sharebuilder credit card sold to FirstUSA and then Chase. I am wondering if a all out dispute might work better once the three year SOL is up in Jan 2013?


The post you want to show up in your message, click on "reply" at the (bottom of that post). Then click on "Quote" (found at top of the post).

 If you need any help with techy things, there's a board called .....myFICO® Forums Technical Help:smileywink: Hope this helps.

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