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GW letter - please critique

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gymbo731
Regular Contributor

GW letter - please critique

Please help me with this GW letter I am writing. If anything needs to be changed/added/removed, please let me know. The accounts I have are paid charge-off's. I am just looking for a deletion. 

 

 

To Whom It May Concern:

 

The purpose of this correspondence is to see if you would be willing to make a "goodwill" adjustment on the reporting of these accounts to the three credit agencies.  

 

I received my 'company' credit cards in April of 2004 as a college student. I was so thrilled that I now had the freedom to make purchases without having the cash on hand. Unfortunately, I didn't realize that the freedom to buy things on credit came along with the responsibility to faithfully pay my credit obligations with 'company' on time. Both accounts were ultimately “charged-off” and what began with happiness, ended in misery.  

 

Please consider what was happening in my life at the time when I was not able to pay my debts. Back in 2006 through 2008 I was laid off, and therefore I was not able to make payments to my account. I hated not being able to pay, and life was very stressful for me. In addition to not being employed, I was also having family problems. I don’t want to get into it much, but my brother was very depressed and he had even tried to commit suicide. I do feel terrible about not paying and I realize that even with my life so stressed, I still should have tried to somehow make my payments. I should have been more responsible regarding the accounts and I take full responsibility for my actions. The year 2009 has been “wake-up” call for me. I have realized my mistakes, and I am taking steps to get my life back on track.  I am hoping that you understand the situation I was in and give me a second chance for a positive credit rating.

 

My life is now starting to look positive for the first time in a long time. My brother is getting the help he needs in a psychiatric center, and I have a secured job. I've been working very hard to make financially responsible decisions and get better control of my money. I have learned from my mistakes in the past, and will not make the same mistakes again. 

 

I am trying to move on with my life, but my terrible past is still haunting me. I am looking into buying my first home, but I am having difficulty in receiving a mortgage approval due to the negative listings on my credit report. I am asking if you would please give me a second chance for a positive credit rating and understandingly remove these negative accounts from my credit report as a gesture of goodwill.  

 

 I am simply asking 'company' for a courtesy gesture of goodwill in having the credit bureaus remove these accounts from my report. Please consider that the Fair Credit Reporting Act does not demand that all accounts be reported, only that any account that is reported must be reported accurately. Therefore, a company does have legal discretion and permission to remove any account it chooses from credit reports. I'm hoping that you will do that in my case for these accounts. This may not be 'company's' normal policy, but I beg you to please make an exception for my case.  Your kind gesture would be deeply appreciated.
 

Thank you for taking the time to read this. I would appreciate a response at your earliest convenience.


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Current Score: 744
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Message 1 of 4
3 REPLIES 3
gymbo731
Regular Contributor

Re: GW letter - please critique

Why is everyone looking at it, but not responding??? A good job is nice to see.

 

Please people - write your opinion


Starting Score: 640
Current Score: 744
Goal Score: 800


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Message 2 of 4
llecs
Moderator Emeritus

Re: GW letter - please critique

GW letters aren't an exact science. You can send a dozen differently worded GW letters and if read by the same person, get a dozen of the same response. IMO, it's all up to the company or the person reading the letter. With that being said, it really doesn't matter what it says. I look at it this way: people don't care about me and they hate to read. IMO, the letters should be very short and to the point.

 

There's nothing wrong with your letter. Try sending it. If it doesn't work, try shortening it, changing it around, etc. I have one OC that won't budge for the world. Lately some of my letters included inspirational quote, poetry, humorous prose, etc. All it takes is one yes.

 

Make sure you indicate in your letter that you paid off the account.

Message 3 of 4
RobertEG
Legendary Contributor

Re: GW letter - please critique

As llecs has said, how they perceive it is not a science, it is an art.

In my personal opinion, for what it is worth, I would approach any GW letter, not on the basis of sympathy for you, but more on the basis of what granting of the GW will do for them.

Creditors are capitalists.  They would most probably, in my opinion, grant GW if it is to their benefit, and not yours. They are not humantarian social workers.  They are capitalists.

The more you say about things such as I lost my job,,the wife left me, the roof is a'leakin, the dawg just died, etc., etc, the more it tells them of instability.  That, in my opinion, paints a picture of risk, not future security.

Sure, you have to give them a small dose of the "my dawg just died" stuff, or you have no goodwill emotion in your letter.

But I would put much more emphasis on their benefit to wanting to keep you as a customer.  Such postitives as you now have an excellent job, have made all payments on time since the last default, and hopefully, the 'dawg recovered!

Just my read on GW letters.....

 

Message 4 of 4
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