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Regular Contributor
Reighn9
Posts: 112
Registered: ‎01-26-2013
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GW to whom when OC bought by different banks over years.

I have several old paid accounts plaguing me with delinquencies & 30-90 day late payments.  The delinquencies are approaching/achieved 7 years, yet "serious delinquencies & missed payments" is listed as the #1 factor lowering my score. Anyway, I had made payment arrangements when I had a family emergency & lost my income, then had it severely lowered, with the original creditors:  JC Penney, McCoys,Lowes, Walmart.  Then they were all bought by GE Money & many of the payment arrangements were changed or disregarded.  My Penney's account was to remain open while I caught up & they weren't reporting the delinquency.  GEMB closed the account, reported al the late payments, which are still reported, and closed the account while I was paying.  This account did not go to collection.  They changed their name at least twice & now are GEMCRB or something.  To whom do do I write ?  This was a very old account.  McCoys was similar but wasn't delinquent until GEMB bought the account.  They lowered my credit limit 50%-75% causing my account to be over limit.  The payment went up to something I couldn't afford. This was still during the time my income was messed up. The store worked with me but I still had a couple of late payments and GEMB closed the account for being over limit while I was making payments. This account is still showing 60 day late in the status. Same question as with JCP.  I didn't get into a problem with Lowes, even though GEMB lowered my credit limit by 50%.  I didn't owe them anything at that time.  Walmart, on the other hand, my credit limit was lowered by 90% & I had previously been paying down to make a major purchase & found out when I tried to check out.  I only found out about GW letters a little over a year ago.  I tried disputing these with the CRA & got nowhere. I have 2 more, Citi/Shell reporting 60 day late in status only on 1 CRA from 2006 current open account, & Citgo reporting a Collection or Charge-Off only on 1 CRA & paid in full on the other 2.  The Citgo account was paid, never a collection, I disputed but no change.  Do I write a GW letter?  None of these items are getting better with age.  They are all accounts opened in the late 1990s with good payment records until I lost my income so I don't want them deleted.  They keep haunting me, what do I do?

Valued Contributor
Burned2manybridgesB4
Posts: 2,302
Registered: ‎03-15-2012
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Re: GW to whom when OC bought by different banks over years.

I'll start you out...

 

1st- make a list of the cards/creditors-banks/worst lates/number of lates total (then repost it). Not too many are good at decipering a very long paragraph with fine details (me especially).

 

2nd- the 30 day lates, after several years, aren't doing anything to your score, but the 60's (maybe), and the 90+'s definitely..

 

Research on google/whatever search engine to determine the original OC's current status/ownership. GE is pretty cut, and dry...whatever corp email/address you can dig up.

 

RIP: AxHH (11-25-14)

Regular Contributor
Reighn9
Posts: 112
Registered: ‎01-26-2013
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Re: GW to whom when OC bought by different banks over years.

OK  Here's a list   1.  JC  Penney  original creditor-still operating under same name-GEMoney acquired credit accounts 2006-7-changed name or bank to GEMoney Bank about 2009-changed again 2010 to GEMCRB I think-can't keep track of them.

        1A    150 days late 2005-listed as such in status until 2012 when changed 30 days late several times.

        1B     Made payment arrangements with JCP credit managers.  GEMoney didn't honor arrangements & closed account

        1C     Account has been paid in full since 2006 or 2007.  Never went to collection.  

        1D     Negative status only listed on one CRA.  

 

        2        McCoys  original creditor Greentree Financial-GEMoney acquired credit accounts 2006-7-changed name or bank to GEMoney Bank about 2009-changed again 2010 to GEMCRB I think-can't keep track of them.

        2A      Was not late or delinquent until GEMoney acquired the account.  They lowered the credit limit 50%-75% causing account to be over-limit.

        2B      Payments were raised beyond what I could afford and I was late 2-3 times but the store credit manager worked with me while I was making payments but GEMoney closed the account for being over-limit.

        2C      60 day late still showing in status on one CRA.   Account has been paid in full since 2007.  Never went to collection.

 

        3        Citi/Shell -not sure of original creditor, was before Citibank though,  current account

        3A      60 days late in 2006 when lost income, called company and made arrangements.  Said wouldn't report.

        3B      Never late since & always pay more than minimum payment.

        3C      Was 60 days late-shows in status on one CRA.

 

         4       Citgo-not sure of original creditor-now Citibnk or Citicorp

         4A     Reported as charge-off on one CRA, paid or paid in full on other two.

         4B     Account was always paid on time, never late.  Never received collection or late notice.

         4C     Card was still active when last gas station in town went out of business about 2007maybe earlier.

         4D     Have disputed-no results.

 

Do I write a GW letter?  None of these items are really getting better with age. since "serious delinquencies & missed payments" is listed as the #1 factor lowering my scredit core These are all accounts opened in the late 1990s with good payment records until I lost my income so I don't want them deleted.  They keep haunting me, what do I do?

Regular Contributor
Reighn9
Posts: 112
Registered: ‎01-26-2013
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Re: GW to whom when OC bought by different banks over years.

Ok, I made a list as you suggested with all the specific information on each account to make it easier to read, yet you haven't replied, nor has anyone else.

Contributor
Hopelives2
Posts: 199
Registered: ‎04-30-2011
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Re: GW to whom when OC bought by different banks over years.

[ Edited ]

Reighn9 wrote:

1.  JC  Penney  original creditor-still operating under same name-GEMoney acquired credit accounts 2006-7-changed name or bank to GEMoney Bank about 2009-changed again 2010 to GEMCRB I think-can't keep track of them.

 

2        McCoys  original creditor Greentree Financial-GEMoney acquired credit accounts 2006-7-changed name or bank to GEMoney Bank about 2009-changed again 2010 to GEMCRB I think-can't keep track of them.

        

3        Citi/Shell -not sure of original creditor, was before Citibank though,  current account

       

4       Citgo-not sure of original creditor-now Citibnk or Citicorp

 

-------------------------------------------------------------------------------------------------------        

 

 

Patience, young Padawan :smileyhappy:  this is a forum where people help each other, not demand.  

 

For all of these, make sure you include WHY you were late and missed payments.  Remember, you are begging them to remove these from your CR, not demanding. 

 

1. What is actual last date of activity for GEMB?  If it was 2006, where in the 7 years are you?  They cannot update your lates in 2012 and make that date your last date - it's against the FCRA.  

 

Write to GE Money Bank a very nice, very polite letter requesting they remove the derogatory remarks.

 

2.  Same as #1 - write them, separately, about Goodwilling the account.

 

3.  I might try to dispute in writing to the three CRAs about the 60-day late depending on when it will age to greater than 7 years.  I would NOT use the online form for the CRAs as they are generic, etc etc etc.    

 

If that comes back and they have not removed your 60 day late, then GW it.  Again, don't demand, be polite, nice, considerate, warm.

 

4.  I'm not sure what you're saying here.  You had a charge card, that you always paid, on time; never late and they sent it to collection?  If that is the case, it sounds like the creditor has mixed up some data with the card listed in #3.

 

In that case, I'd write to Citi and ask them to correct their mistake.  If they refuse, then dispute in writing to the CRAs.  If that still doesn't update the record, contact the AG office of your state and the FTC copying Citi on the letters.  And last, if those don't work, then contact an attorney if it is that critical to you.

 

Make sure you do everything in writing and use NO online forms for submission.  You need to have a paper trail to show each subsequent step if not rectified in the first place.

 

Good luck!

Regular Contributor
Reighn9
Posts: 112
Registered: ‎01-26-2013
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Re: GW to whom when OC bought by different banks over years.

1-GE Money Bank is now GECRB. Not sure how they are still related. 

2- And with #1 & #2 at the time & Shell knew why the payments were late because I had either called or made arrangements with the credit maganger, but the terms were not honored when GE Money took over. 

3-the lates were just updated in January 2013 for JC Penney

4-I never use the online form.  I always send my disputes in writing.  I have disputed these accounts, and all I got was a note on the CR "customer disputes this information"

5-One CRA reports the account as collection/charge-off.  The other 2 report paid as agreed & paid in full.  I always paid on time and paind in full when the station left town.  I never received any collection notices from anyone.  I disputed this (in writing) with the CRA and there were no changes made.  I have filed a report with the AG & the FTC but they never answer you.

6-I'm very good at paper trails. I've been fighting with these same accounts for several years.  There were 2 more I finally got rid of.  These are really hurting me. The #1 negative reason listed for my credit score is you have a serious delinquency & missed payments. I only have 1 other negative reason listed and I can fix that much more easily.

Thanks for your advice.  I'll try the GW leters, I've tried about everything else you've suggested, already, several times over.

 

Valued Contributor
Burned2manybridgesB4
Posts: 2,302
Registered: ‎03-15-2012
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Re: GW to whom when OC bought by different banks over years.

I'm back. Real "off the computer" life got in the way..lol. Doing the quick read, it seems your gw tactics will be most beneficial. If you're near the seven year mark on the lates, they'll fall off soon enough. Be careful doing jack attacks, since they might come back to bite you. Balance chasing back then was common, and a lot of people hurt from the banks doing so. Mention that in your gw targeted for that specific card.
RIP: AxHH (11-25-14)

Valued Contributor
Burned2manybridgesB4
Posts: 2,302
Registered: ‎03-15-2012
0

Re: GW to whom when OC bought by different banks over years.

OK  Here's a list   1.  JC  Penney  original creditor-still operating under same name-GEMoney acquired credit accounts 2006-7-changed name or bank to GEMoney Bank about 2009-changed again 2010 to GEMCRB I think-can't keep track of them.

        1A    150 days late 2005-listed as such in status until 2012 when changed 30 days late several times.(these will exclude themselves 7yrs from date of occurance. Disputing with CRA's will not be beneficial, as they'll see it as accurate reporting by OC)

        1B     Made payment arrangements with JCP credit managers.  GEMoney didn't honor arrangements & closed account(how did they not "honor it"? details....)

        1C     Account has been paid in full since 2006 or 2007.  Never went to collection.  (good thing...stays on your report as a positive TL for up to ten years)

        1D     Negative status only listed on one CRA.(Flagged on account listings?)

 

        2        McCoys  original creditor Greentree Financial-GEMoney acquired credit accounts 2006-7-changed name or bank to GEMoney Bank about 2009-changed again 2010 to GEMCRB I think-can't keep track of them.

        2A      Was not late or delinquent until GEMoney acquired the account.  They lowered the credit limit 50%-75% causing account to be over-limit.(This is what you need to mention in your goodwill, begging/pleading for help from them...honey gets results)

        2B      Payments were raised beyond what I could afford and I was late 2-3 times but the store credit manager worked with me while I was making payments but GEMoney closed the account for being over-limit.

        2C      60 day late still showing in status on one CRA.   Account has been paid in full since 2007.  Never went to collection.(60 day nearing 7yr mark?)

 

        3        Citi/Shell -not sure of original creditor, was before Citibank though,  current account

        3A      60 days late in 2006 when lost income, called company and made arrangements.  Said wouldn't report.(7yr mark?)

        3B      Never late since & always pay more than minimum payment.

        3C      Was 60 days late-shows in status on one CRA.

 

         4       Citgo-not sure of original creditor-now Citibnk or Citicorp

         4A     Reported as charge-off on one CRA, paid or paid in full on other two. (Showing paid with $0 balance?...typical of how CO's show up when sold to a CA)

         4B     Account was always paid on time, never late.  Never received collection or late notice.

         4C     Card was still active when last gas station in town went out of business about 2007maybe earlier.

         4D     Have disputed-no results. (Disputed with whom? CRA's?)

 

Do I write a GW letter?  None of these items are really getting better with age. since "serious delinquencies & missed payments" is listed as the #1 factor lowering my scredit core These are all accounts opened in the late 1990s with good payment records until I lost my income so I don't want them deleted.  They keep haunting me, what do I do?

RIP: AxHH (11-25-14)

Regular Contributor
Reighn9
Posts: 112
Registered: ‎01-26-2013
0

Re: GW to whom when OC bought by different banks over years.

Thanks for the response,  Here are some answers to your questions/statements.

 

OK  Here's a list   1.  JC  Penney  original creditor-still operating under same name-GEMoney acquired credit accounts 2006-7-changed name or bank to GEMoney Bank about 2009-changed again 2010 to GEMCRB I think-can't keep track of them.

        1A    150 days late 2005-listed as such in status until 2012 when changed 30 days late several times.(these will exclude themselves 7yrs from date of occurance. Disputing with CRA's will not be beneficial, as they'll see it as accurate reporting by OC)

        1B     Made payment arrangements with JCP credit managers.  GEMoney didn't honor arrangements & closed account(how did they not "honor it"? details....)  The arrangements were that if I made any kind of payment (minimum payment not required) the lates would not be reported. I was only 60 days late when I started paayments, but when GE Money took over the lates were reported and and expanded to 90 days, 120 days, etc while I was making payments if I did not pay the minimum.  The arrangement also included not closing my account as long as I was not charging anything to the account and trying in good faith to make payments.  GE Money closed the account without giving any reason.

        1C     Account has been paid in full since 2006 or 2007.  Never went to collection.  (good thing...stays on your report as a positive TL for up to ten years)

        1D     Negative status only listed on one CRA.(Flagged on account listings?)  Yes, on the main account listing where all of the information is entered on the line "staus". Says how many days late.  For this CRA only, payment history below is blank.

 

 

        2        McCoys  original creditor Greentree Financial-GEMoney acquired credit accounts 2006-7-changed name or bank to GEMoney Bank about 2009-changed again 2010 to GEMCRB I think-can't keep track of them.

        2A      Was not late or delinquent until GEMoney acquired the account.  They lowered the credit limit 50%-75% causing account to be over-limit.(This is what you need to mention in your goodwill, begging/pleading for help from them...honey gets results)

        2B      Payments were raised beyond what I could afford and I was late 2-3 times but the store credit manager worked with me while I was making payments but GEMoney closed the account for being over-limit.

        2C      60 day late still showing in status on one CRA.   Account has been paid in full since 2007.  Never went to collection.(60 day nearing 7yr mark?) Should be, but I don't know when it occured.  It was after GE Money raised the minimum payments and closed the account.

 

        3        Citi/Shell -not sure of original creditor, was before Citibank though,  current account

        3A      60 days late in 2006 when lost income, called company and made arrangements.  Said wouldn't report.(7yr mark?) Should be real close but I haven't been able to get that information.

        3B      Never late since & always pay more than minimum payment.

        3C      Was 60 days late-shows in status on one CRA.

 

         4       Citgo-not sure of original creditor-now Citibnk or Citicorp

         4A     Reported as charge-off on one CRA, paid or paid in full on other two. (Showing paid with $0 balance?...typical of how CO's show up when sold to a CA)

         4B     Account was always paid on time, never late.  Never received collection or late notice.

         4C     Card was still active when last gas station in town went out of business about 2007maybe earlier.

         4D     Have disputed-no results. (Disputed with whom? CRA's?)  Yes, only with the one reporting the collection/charge-off.  They claim the information is accurate, but I can't even find where this account went to collection in payment history.  CRA put "customer disputes" but no explantion.

 

I hope this information helps,  I've been tring to fix some of this information for several years.

 

Valued Contributor
Burned2manybridgesB4
Posts: 2,302
Registered: ‎03-15-2012
0

Re: GW to whom when OC bought by different banks over years.

If all your credit reports are fairly equal, as far as items reporting, use this to pull your equifax, and you'll be able to see your DOFD's on these accounts. Then you'll be able to gauge the FCRA compliance date (drop off's).

 

https://aa.econsumer.equifax.com/aad/landing.ehtml

RIP: AxHH (11-25-14)


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