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Contributor
Posts: 81
Registered: ‎06-27-2013
0

GW For Paid Charge-Offs

Has anyone had sucesss with a GW for a paid charge-off? I have one from citi (2009), one from first premier (2009), and one from GEMB (Paypal, paid 2013). I emailed off my citi letter to a bunch of people to no avail - I actually got a letter in the mail stating NO, more or less, across 4 paragraphs of explanation pretty much telling me what a bad client I was. I read about GW sucesses, but most seem to be with CAs or one or two 30 day lates. Any tips to get these off? I remain hopeful for gemb and citi, but from what I read first premier will be a total waste of ink.

Current Fico08 TU:654 EX:641 EQ:650 (01/31/2015)
Current Fico04 TU:??? EX:695 EQ:675 (01/31/2015)
03/2013 - TU:567 EX:490 EQ:540
Valued Member
Posts: 41
Registered: ‎12-13-2012
0

Re: GW For Paid Charge-Offs

I sent a GW to Citi over about my Sears account that was a paid CO.  They replied with adding a dispute statement to my TL even though there was no mention of disputing the account information in the letter. That said, I have only attempted once with them and now I'm working on getting the dispute comment removed so I can try again. I have seen some other post in the past where some people have had some success with Citi but mostly for a few late payments here and there. The only thing I would say is keep trying. Maybe one day they will get tired of opening the letters and replying so they may just grant your request. Good luck.

EQ: 678 (Lender Pull 2/28/14) | EX: 669 (Lender Pull 2/28/14) | TU: 664(Lender Pull 2/28/14) 651 (Discover TU 08 3/13/14) 693 (MyFICO TU 98)
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Mega Contributor
Posts: 19,519
Registered: ‎03-19-2007
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Re: GW For Paid Charge-Offs

I would suggest the following approach for a paid charge-off.....

 

Reporting of their having charged-off the debt is, in essence, their posting to your credit report of their prior determination that you were not going to pay the debt.

The impact is suggesting to others that you are a consumer who may not pay their obligated debt.

 

By paying the debt, you showed that your intention was never to stiff the debt, but merely that you were going through temporary hard times, and once overcome, you fulfilled your obligation.

 

Thus, the plea that continued showing on your credit report of a charge-off suggests to others than you are a consumer who may stiff them, which your actions have shown do not accurately reflect on you as a consumer.  You do pay your obligated debt.

Contributor
Posts: 81
Registered: ‎06-27-2013
0

Re: GW For Paid Charge-Offs

Yes - I like this. I'll rewrite my letter and see what happens.

Current Fico08 TU:654 EX:641 EQ:650 (01/31/2015)
Current Fico04 TU:??? EX:695 EQ:675 (01/31/2015)
03/2013 - TU:567 EX:490 EQ:540

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