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New Member
Posts: 7
Registered: ‎05-30-2012
0

Good Will Letter

I have been reading the posts around but have been able to really answer my questions directly. SO here it goes

3 questions

1) I have several accounts that had delinquency from 30 alt the ways to charged off for being over 120 days.(While i was deployed)  the worst of those was 2.8 years ago. I have not missed a payment on anything after that. Those accounts have been all payed off. Is a Good Will Letter going to work/How do i word it

2) Can i word the letter request they change it to more positive (payed as aggred) standing vice remove the the account all together?

3) Does anyone have any examples they can send me that are scrubbed so i know how to word them?

Established Contributor
Posts: 1,002
Registered: ‎12-06-2011
0

Re: Good Will Letter

Can you post the names of the original creditors (OC)?

 

From experience, I have tried goodwilling Charged-Off accounts to state: Paid As Agreed - instead of having them removed but I have no been successful yet. I think they would rather delete the entire TL than change the status.


Starting Score: 486 EQ, 529 TU, 518 EX 12/6/2011 (FICOS - lender pull)
Current Score: 595 EQ SW 1/10/13 628 TU08 1/10/2013 593 EX (BoA HP) 1/5/12
Goal Score: > 620
Take the FICO Fitness Challenge! | Diamond Spade Garden Club Member: App free since 7/2012
New Member
Posts: 7
Registered: ‎05-30-2012
0

Re: Good Will Letter

Ok here they are 3 are open. i believe the goodwill letter will work with them. (Captial One, Military Star, and USAA)

the closed ones are Citi bank x2, HSBC Bank, LVNV Funding (Collection Agency), Navy Federal Credit Union

 

Member
Posts: 18
Registered: ‎10-08-2008
0

Re: Good Will Letter

Im looking to send a GW to Capital one also, but truthfully I really just want the lates removed. Seeing that Capital One has labled the account as CO, I have to pay the CA their working with, but its Capital One that is reporting it to the CRAs. My plan of action after talking to both companies today is to write a GW to remove the lates and I will PIF. I have faith the GW will work, I need to find someone with some clout to address it to though, and Im good to go!

26 years old with a 750 -- Im not talking about the car either…
Established Contributor
Posts: 1,002
Registered: ‎12-06-2011
0

Re: Good Will Letter

@zinjasub - Good luck getting HSBC to report Paid As Agreed. They're tough to deal with.


Starting Score: 486 EQ, 529 TU, 518 EX 12/6/2011 (FICOS - lender pull)
Current Score: 595 EQ SW 1/10/13 628 TU08 1/10/2013 593 EX (BoA HP) 1/5/12
Goal Score: > 620
Take the FICO Fitness Challenge! | Diamond Spade Garden Club Member: App free since 7/2012
New Member
Posts: 7
Registered: ‎05-30-2012
0

Re: Good Will Letter

Anyone know who I should address them to?
Established Contributor
Posts: 1,002
Registered: ‎12-06-2011
0

Re: Good Will Letter

You can send it to the address on your CR but add:

 

Attn: Credit Bureau Reporting

 

check your inbox!


Starting Score: 486 EQ, 529 TU, 518 EX 12/6/2011 (FICOS - lender pull)
Current Score: 595 EQ SW 1/10/13 628 TU08 1/10/2013 593 EX (BoA HP) 1/5/12
Goal Score: > 620
Take the FICO Fitness Challenge! | Diamond Spade Garden Club Member: App free since 7/2012
New Member
Posts: 3
Registered: ‎07-22-2012
0

Re: Good Will Letter

I can happily report a good outcome using the Good Will Letter approach. Having joined myFICO I read through the forums to see if there were ways to improve my overall credit scores. I only had one revolving credit account, with J Crew, that had 3 payments 30 days old (meaning 1 missed payment) 3 months in a row. That was 2 1/2 years ago. Other than that revolving credit wise I'm clean. So I said what the heck. I researched and found what I thought was a good, simple, GW letter. I researched and evaluated and determined the best approach was to write to the CEO. Not their Columbus, OH location where payments are made or to someone lower. This may not work for everyone. I sent the letter July 23rd 2012. I got a call on August 1st (yep, believe it) on my cell. It was their Columbus, OH location. They were following up on my GW letter. They didn't have the precise dates since it was so far back. I shared them with her to be consistent with my GW letter in case they were verifying. She said that was all that she needed and they would report to the 3 credit agencies and get this fixed. I checked today August 3rd 2012 and it has been cleaned off all 3 credit agencies. My Experian score went from 745 to 768 due to that one change. Not a giant change but it does show one thing can improve your score by 23 points. I don't know if everyone would have the same experience. But for the short time it took to grab a sample GW letter, down load it, modify it, look up the CEO address and spend the stamp money it was worth it.

Valued Member
Posts: 41
Registered: ‎02-05-2012
0

Re: Good Will Letter

Congratulations!! Every point is a point closer to your goal!! Could you PM me tht GW Ltr I would really appreciate it!!!!!


Starting Score: TU 517 - EQ 539
Current Score: TU 654 - EQ 657 - EX 641 FAKO
Goal Score: 750


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