Credit Cards Center Credit cards from our partners
Reply
Mega Contributor
Posts: 15,453
Registered: ‎04-09-2011
0

Example letter for Paid collection removal??

Anyone have a letter like this?? Would be very much appreciated.




EQ FICO 548 3/3/16
Senior Contributor
Posts: 4,189
Registered: ‎03-24-2008
0

Re: Example letter for Paid collection removal??

You would use a  G W letter.  Something short, sweet and to the point. Keep it simple.Smiley Wink

 

FICO's May 2015 EQ764 ~~Live below your means and always keep an emergency fund -Love Everybody ~ Big Kenny ~ Big and Rich ~~~~~Credit Scoring 101 - Common Abbreviations - Freq Req Threads - Free Credit Reports - What Steps Do I Take?DV? PFD?
Community Leader
Epic Contributor
Posts: 27,018
Registered: ‎03-19-2007
0

Re: Example letter for Paid collection removal??

I would keep in mind that a request for deletion of reporting based on payment of the debt is asking them to take an action that is directly contrary to their credit reporting agreement with the CRA, which states that a furnisher of information is not to delete reporting based on payment of the debt.

So dont get into the issue, such as by even raising its legality.  Let that dawg sleep.  Sometimes ommission is the better course.

Senior Contributor
Posts: 3,889
Registered: ‎05-24-2011
0

Re: Example letter for Paid collection removal??


RobertEG wrote:

I would keep in mind that a request for deletion of reporting based on payment of the debt is asking them to take an action that is directly contrary to their credit reporting agreement with the CRA, which states that a furnisher of information is not to delete reporting based on payment of the debt.

So dont get into the issue, such as by even raising its legality.  Let that dawg sleep.  Sometimes ommission is the better course.



yes but the agreement doesn't state they are required to report anything, only that what they report must be accurate.  Not sure why you are bashing the GW letter since the MYFICO forum promotes the GW letter.  ??

STARTING: 11/24/10 EQ-584 EXP-648 TU04-595
CLOSED FIRST HOME 8/19/11 EQ-630 EXP-691 TU04-653
CURRENT: EQ-701 EXP-??? TU08-720
Senior Contributor
Posts: 4,189
Registered: ‎03-24-2008
0

Re: Example letter for Paid collection removal??


Booner72 wrote:

RobertEG wrote:

I would keep in mind that a request for deletion of reporting based on payment of the debt is asking them to take an action that is directly contrary to their credit reporting agreement with the CRA, which states that a furnisher of information is not to delete reporting based on payment of the debt.

So dont get into the issue, such as by even raising its legality.  Let that dawg sleep.  Sometimes ommission is the better course.



yes but the agreement doesn't state they are required to report anything, only that what they report must be accurate.  Not sure why you are bashing the GW letter since the MYFICO forum promotes the GW letter.  ??


Booner, I dont think roberteg is bashing anything. He was just letting the OP know, what I forgot to mention in my post...

That by sending a GW letter there's no guarantee for a delete, because the CRA's and the CA's have an agreement to not delete because of payment.

 

So the bottom line is....sometimes GW letters work and sometimes they don't. But always worth a try.Smiley Wink

FICO's May 2015 EQ764 ~~Live below your means and always keep an emergency fund -Love Everybody ~ Big Kenny ~ Big and Rich ~~~~~Credit Scoring 101 - Common Abbreviations - Freq Req Threads - Free Credit Reports - What Steps Do I Take?DV? PFD?

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.