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Member
Workmanp
Posts: 11
Registered: ‎07-19-2013
0

Debt Frogiveness?

So I have finally gotten to a point where I have paid down all my debt, owe no money to cards, and am ready to start slowly building credit back up.  However, in 2010 I had a reposession.  the vehichle was like 2 payments away from being paid off (kicking my self in the ass), and went to auction which paid the balance, so I dont owe anything on it.  My question is, do you think the company I financed would be willing to forgive the debt so I can get it off my report?  I was stationed in Japan and going through some pretty tough times, does that stuff matter to lenders?  If I can just get that thing off my credit then nothing but clear skies and smooth sails.  Has anyone here every asked for debt forgivness and had it turn out well for them?  Thank you.

Moderator
Shogun
Posts: 12,952
Registered: ‎04-15-2011
0

Re: Debt Frogiveness?

You mean a Goodwill?  Yes, they work.  Send one.


Starting Score: 504

July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
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Member
Workmanp
Posts: 11
Registered: ‎07-19-2013
0

Re: Debt Frogiveness?

any specific way to write one, or just kinda be straight forward with it?

Senior Contributor
DaBears
Posts: 3,930
Registered: ‎10-26-2012
0

Re: Debt Frogiveness?

GW letters are personal.  So be straight to the point and explain the situation you were in. 

Moderator
Shogun
Posts: 12,952
Registered: ‎04-15-2011
0

Re: Debt Frogiveness?

Absolutely.  There is a sticky up top that has some examples.  Don't cookie cutter one out to them.  Make it personal.


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!

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