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Established Member
Posts: 27
Registered: ‎05-07-2012
0

Do I use a gw letter for past due's?

Can I get past dues erased using a gw letter without them deleting my entire account? Has anyone had success with this? I need something to establish history, and I hate to have it completely deleted. Thank you!
Moderator Emeritus
Posts: 32,869
Registered: ‎08-04-2007
0

Re: Do I use a gw letter for past due's?

Did you mean lates (or late payments)? GWs are for paid or current accounts only. There is a risk that an OC could delete if you send them a GW and that risk is elevated if the account is closed or old. You have to weigh the potential loss in AAoA/length of history over the impact of the lates reporting.

Established Member
Posts: 27
Registered: ‎05-07-2012
0

Re: Do I use a gw letter for past due's?

I have 30 and 60 day late pmts on a few open and a few closed accounts.  Should I handle them differently?

 

Thank you

Moderator Emeritus
Posts: 32,869
Registered: ‎08-04-2007
0

Re: Do I use a gw letter for past due's?

GWing lates on open accounts isn't that bad. The risk is very, very low they'd delete. However, the odds go considerably up when the account is closed. If the account is among your oldest or older than your AAoA, you can possibly experience a FICO decrease as they are removed. You have to weigh how recent those baddies are in relation to the age of the account.

Epic Contributor
Posts: 20,543
Registered: ‎03-19-2007
0

Re: Do I use a gw letter for past due's?

+1

If the account is closed and paid, I would suspect a lot might depend on how a GW is worded. 

If contentious, they may simply decide to delete the entire account, in anticipation of any issues of a possible dispute.  Deletion means no information in your credit file, ergo, no basis for any future disputes of anything under the account.  Would your GW assert any possible errors on their part, or would it be a simple plea?

Established Member
Posts: 27
Registered: ‎05-07-2012
0

Re: Do I use a gw letter for past due's?

These are just pleas to help me as I am getting out of an abusive marriage and will need to provide a house for my little ones.  Nothing on their part.

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