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Established Member
Posts: 13
Registered: ‎07-17-2012
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Creditor Lying to me about Goodwill Letter?

I had a loan a few years ago on which I had only one late payment (by two days) and had a 30 day late reported to TransUnion as a result.  The loan was through a "loan shark" place with insane interest rates and who will serve you with a lawsuit if you are 30 seconds late on a payment. 

 

At any rate, I disputed the late report because I honestly thought it was wrong.  It was denied by TransUnion. So I called the manager of the loan shark place.  After talking to the manager, who was very nice, he confirmed I was in fact two days late on a payment due 8-30-08 and it was not received until September 1st.  I guess it just didn't make it through snail mail on time.  He then proceeded to tell me I was probably the best customer he ever had.  So I decided to try and capitalize on that comment by asking him if he would have the 30 day late removed if I sent him a Good Will Letter because I would be applying for a mortgage in the next few months.  He told me it was illegal to have it removed from my credit report and he would go to jail if he did it.  What??  I did not have all my research in front of me so I did not know how to respond, but I told him this was contradictory to everything I had heard and researched.  He insisted that it was illegal and said any creditor removing lates was breaking the law.  But he would be happy to tell any mortgage lender that I was a great customer.  Gee, thanks.

 

Has anyone else received this kind of response or have any knowledge that he is correct in any way?  Maybe I am just using the wrong words as far asking for it to be  "removed" it from my CR for him to respond that way?  I have examples of GW's I plan to use but did not have them with me so I could not quote the Fair Reporting Act or anything.  Should I send him the letter anyway and see if he reconsiders since he is obviously wrong?  Thanks in advance.

Epic Contributor
Posts: 20,313
Registered: ‎03-19-2007
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Re: Creditor Lying to me about Goodwill Letter?

Based on the facts provided, you apparently did not even have a reportable 30-late, so its reporting appears factually improper. 

A reportable 30-late does not come about until 30 days has expired from the billing due date, not the billing date.

 

You dont need their good-will to get it deleted.  It was inaccurate reporting.

Send a dispute to the CRA, providiing evidence of the billing date, the billing due date, and the date of payment.

The CRA reporting manual/requirements clearly state that a 30-late is based on billing due date, not billing date.

They can delete based on their own reinvestigation of its accuracy.

Frequent Contributor
Posts: 382
Registered: ‎06-26-2012
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Re: Creditor Lying to me about Goodwill Letter?


RobertEG wrote:

Based on the facts provided, you apparently did not even have a reportable 30-late, so its reporting appears factually improper. 

A reportable 30-late does not come about until 30 days has expired from the billing due date, not the billing date.

 

You dont need their good-will to get it deleted.  It was inaccurate reporting.

Send a dispute to the CRA, providiing evidence of the billing date, the billing due date, and the date of payment.

The CRA reporting manual/requirements clearly state that a 30-late is based on billing due date, not billing date.

They can delete based on their own reinvestigation of its accuracy.


 

+1 on this

 

30 days late means just that - it was 30 days late.

 

I never heard of a 2 days late ding on a CR :smileyhappy:

 

If you have a copy of the bill and a copy of the returned check it should be VERY easy to get it rectified. You could also call them and say "your inacurately reporting, I have proof I was only 2 days late which means yes I can have additional fees added to my account, however you BY LAW can not put on a 30 day late if I'm not 30 days late." he might just change it on his own since he claims he'll go to jail for putting the wrong info.

 



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New Contributor
Posts: 69
Registered: ‎08-28-2012
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Re: Creditor Lying to me about Goodwill Letter?

I read it as he was due for the 8/1/12 payment, but didn't pay it until 9/2/12.  The 8/30 date he through out there would be because of the 30 day late he was trying to avoid had it not been for delayed snail mail.

 

I could be wrong on that.

 

As far as the creditor lying.  It's a fine line, they have to report it accurately, so if they received a payment late, they have to report it as such.  I believe most GW letters are asking for the reporting for that month to be removed, not corrected.  Correcting it would entail saying it was received on time, which, in this case, it doesn't sound like it was.  Deleteing it would not be lying because creditors, from what I understand, have no obligation to report at all.

 

I believe it shows up as ND (no data) for months that are not reported, on your credit report, but does not count as a baddie.  I could be wrong.

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Frequent Contributor
Posts: 382
Registered: ‎06-26-2012
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Re: Creditor Lying to me about Goodwill Letter?


Trons wrote:

I read it as he was due for the 8/1/12 payment, but didn't pay it until 9/2/12.  The 8/30 date he through out there would be because of the 30 day late he was trying to avoid had it not been for delayed snail mail.

 

I could be wrong on that.

 

As far as the creditor lying.  It's a fine line, they have to report it accurately, so if they received a payment late, they have to report it as such.  I believe most GW letters are asking for the reporting for that month to be removed, not corrected.  Correcting it would entail saying it was received on time, which, in this case, it doesn't sound like it was.  Deleteing it would not be lying because creditors, from what I understand, have no obligation to report at all.

 

I believe it shows up as ND (no data) for months that are not reported, on your credit report, but does not count as a baddie.  I could be wrong.


copied and pasted from OP: "After talking to the manager, who was very nice, he confirmed I was in fact two days late on a payment due 8-30-08 and it was not received until September 1st.

 

 

Payment due date was 8/30/08 and payment was recieved 9/31/08.  Thats 2 days, not 32 days.  OP is correct in thinking the 30 days late is not being reported correctly.

 

As far as the good will stuff - yes they would have to delete the line, or delete the month and just retract all info for that month - otherwise its lying.



Current: Eq- 624 Ex - 631 (lender pulled) TU - 661 (lender pulled)
Goal 700+ across all three
New Contributor
Posts: 69
Registered: ‎08-28-2012
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Re: Creditor Lying to me about Goodwill Letter?

I know, and knew, what the OP said.  But, since that didn't make sense, I extrapolated.  I'm fairly used to people not saying what they mean.  That may not be giving people enough credit, but it saves me a lot of frustration and arguements.

Starting: EQ 590 (LP 8/12) TU 589 (LP 8/12) EX 612 (LP 8/12)
Current: EQ 650(LP 9/12/12) TU 667 (LP 9/12/12) EX 676 (LP 9/12/12)
Goal: 620 (for VA Mortgage)
Goal Reached. Pre-qualified for VA loan, 9/12/12

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Moderator
Posts: 13,761
Registered: ‎04-15-2011
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Re: Creditor Lying to me about Goodwill Letter?

Of course he wouldn't go to jail for that.  First off, it's currently reporting wrong if it was only 2 days late.  2nd, the TL could be removed.  Nothing compels a creditor to post to a TL, only to report accurately.



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Established Member
Posts: 13
Registered: ‎07-17-2012
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Re: Creditor Lying to me about Goodwill Letter?

I'm still trying to fight this.  Does anyone know any LAW I can quote to this creditor proving that he should not have reported me 30 days late after 2 days being late?  I cannot find anything in the Fair Reporting Act.  The only thing I have found so far is from the 2011 Credit Reporting Resource Guide (copyright 2011 by the Consumer Data Industry Association) which states "The "clock" for a 30-day delinquency starts 30 days after the due date, as opposed to the billing date."

Epic Contributor
Posts: 20,313
Registered: ‎03-19-2007
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Re: Creditor Lying to me about Goodwill Letter?

Reporting of delinquencies is not specifically covered by statute, but as you correctly point out, is clearly defined in the Credit Reporting Resource Guide (the standard reporting manual used by each of the big-3 CRAs) as being 30 days past the billing due date, NOT the billing date.  That is stated over and over, with examples, in their manual, and is not a subjective issue.

 

I would send a dispute to the CRAs, referencing the clear reporting requiements in their manual.  They have, via their reinvestigation authority, the right to delete as inaccurate.  They certainly know the requirements of their own manual.

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Registered: ‎08-04-2007
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Re: Creditor Lying to me about Goodwill Letter?

OP, I wouldn't do anything. The removal of the 30 won't help FICO any. I don't know how old the TL is in relation to AAoA, but I would fear a deletion of the entire TL. Nw if younger than AAoA and/or if reporting as a CFL then I wouldn't care if my score dipped (assuming they'd opt to delete).

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