Goodwill It or Leave It?

Anonymous · ‎09-27-2016

I have a baddie from May, 2011 and I'm not sure if I should attempt to goodwill it or just leave it? I plan to app for a mortgage in the May, 2017 timeframe so this will not fall off in time. This was a personal installment loan that appears on my report as 2 separate items. I believe the loan was sold from Beneficial to Springleaf.

Springleaf and Beneficial are reporting the same loan as outlined below. Do I just leave this as right now Transunion is not even reporting this? If it's better to goodwill do I contact Beneficial, Springleaf, or both? As an FYI my TransUnion FICO Mortgage score is 40-50 points higher than EX or EQ. There are a couple minor differences in my 3 reports but this one seems to be a glaring one that may be bringing my EX and EQ scores down?

Springleaf

EQUIFAX - Nothing negative reported

TRANSUNION - Nothing negative reported

EXPERIAN - Reporting as 180 days delinquent

Beneficial

EQUIFAX - 120 days past due

TRANSUNION - No data reported

EXPERIAN - No data reported

Anonymous · ‎09-27-2016

You could try GW, although if the debt is unpaid to date that might become a negotiation where you have to pay someone for the deletion.

If you've already paid the debt, then GW might work. Maybe. After a bunch of letters and emails.

At this point, if you're looking to enter the mortgage market next spring, it might be easier to just wait until right after the first of the year and start asking the CRAs for early exclusion instead. That is generally a much easier process than asking for GW deletion from the reporting entities (since you'd have to get two of them to agree in order to have it removed entirely from all reports).

Anonymous · ‎09-27-2016

I would send out GW letters personally, as those 120's will impact you for the full 7 years. It's a small investment of 30-45 minutes of your time to type up, print some copies and stuff some envelopes and the cost of stamps to potentially yield a favorable result.

Anonymous · ‎09-27-2016

@Anonymous wrote:
If it's better to goodwill do I contact Beneficial, Springleaf, or both?

Both are reporting so both are who you'd need to contact.

RobertEG · ‎09-28-2016

A GW request on a delinquent debt is generally done by way of what is called a pay for deletion request.

Creditors are not likely to show good-will when you have an unpaid, delinquent debt with them.

A special form of attempting good-will deletion is to offer to pay the debt in exchange for their deletion of negative reporting.

Yes, I would recommend a GW, provided it is accompanied by an offer to pay the delinqent debt.

A PFD would be sent to the reporting party who currently owns the debt, as only they can accept payment.

Anonymous · ‎09-28-2016

I still find it ironic that a "worse" offense of not paying a debt at all is easier to erase than a lesser offense of paying your debt, just late. I started a thread about this months ago in this forum... that PFD's are actually easier to achieve than GW adjustments to current or already PIF accounts.

Anonymous · ‎09-28-2016

The account has was actually PIF in 2011. I guess a GW attempt can't hurt.

@Anonymous wrote:
I still find it ironic that a "worse" offense of not paying a debt at all is easier to erase than a lesser offense of paying your debt, just late. I started a thread about this months ago in this forum... that PFD's are actually easier to achieve than GW adjustments to current or already PIF accounts.

Anonymous · ‎09-28-2016

@Anonymous wrote:
The account has was actually PIF in 2011. I guess a GW attempt can't hurt.
@Anonymous wrote:
I still find it ironic that a "worse" offense of not paying a debt at all is easier to erase than a lesser offense of paying your debt, just late. I started a thread about this months ago in this forum... that PFD's are actually easier to achieve than GW adjustments to current or already PIF accounts.

If it was never charged off, and was paid in full, have the inididual late months been excluded already? Is the late status just showing in the comments?

Anonymous · ‎09-28-2016

@Anonymous wrote:
@Anonymous wrote:
The account has was actually PIF in 2011. I guess a GW attempt can't hurt.
@Anonymous wrote:
I still find it ironic that a "worse" offense of not paying a debt at all is easier to erase than a lesser offense of paying your debt, just late. I started a thread about this months ago in this forum... that PFD's are actually easier to achieve than GW adjustments to current or already PIF accounts.

If it was never charged off, and was paid in full, have the inididual late months been excluded already? Is the late status just showing in the comments?

I guess I'm not sure what you are asking? I'm looking at the 3B report from myFico. When I look at the History section of the report TU doesn't show any lates and says no reported delinquency. However EX and EQ shows 120 days late.

It looks like TU isn't even really reporting on this anymore.

Anonymous · ‎09-28-2016

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
The account has was actually PIF in 2011. I guess a GW attempt can't hurt.
@Anonymous wrote:
I still find it ironic that a "worse" offense of not paying a debt at all is easier to erase than a lesser offense of paying your debt, just late. I started a thread about this months ago in this forum... that PFD's are actually easier to achieve than GW adjustments to current or already PIF accounts.

If it was never charged off, and was paid in full, have the inididual late months been excluded already? Is the late status just showing in the comments?
I guess I'm not sure what you are asking? I'm looking at the 3B report from myFico. When I look at the History section of the report TU doesn't show any lates and says no reported delinquency. However EX and EQ shows 120 days late.

It looks like TU isn't even really reporting on this anymore.

Do you have a raw EQ/EX report from annualcreditreport.com?