10-08-2010 07:52 AM
Hi, I just pulled my monthly 3-bureau from Truecredit and saw something alarming. When I paid Dell for a delinquent account this past spring, they updated the DOLA on the account to March 2010. In reading the boards I now know this was probably not the smartest move on my behalf.
Anyways, I'm looking to GW them. Hopefully they'll work with me. Anyone have a GW experience and/or contact to share??
10-08-2010 01:26 PM
IMO, ignore the DOLA. Whenever you dispute something, sometimes send a letter (e.g. PFD or GW), or even make a payment, the DOLA will automatically be updated. And that's OK. DOLA refers to the last update to the TL (date of last activity) and should always update with a payment. The only time DOLA can impact your score is if the baddie had not updated prior to that in a very long time.
If you have any lates, I'd certainly consider a GW (assuming it wasn't my oldest TL).
10-11-2010 09:28 AM
Okay thanks for the clarification. My situation is your last scenario - where the bad account had not been updated ina very long time. When I settled the account, my score tanked because the derog looked "new" again. So, I'm trying to sweet-talk my way into having them delete the TL.
But get this - I sent an email to a Dell exec. I received a reply via email the same day from a business analyst that said she would like to speak to me in person. Ok, fine, no biggie. This happened last Friday.
On Saturday, I get a credit alert - Dell did a hard inquiry on my EX!!!!! Is this even permissible? It's a closed/settled account. i didn't apply for credit with them, all I did was send a GW. They pulled my credit.
This seems fishy to me. I looked up the FCRA, s. 604, permissible purpose. I couldn't find any language that would allow them to pull a CR based on a goodwill letter.... Am I off base??
10-11-2010 01:49 PM - edited 10-11-2010 01:50 PM
IMO, they do not have PP. I'd respond back or even try to dispute the inquiry (note: that can cause a fraud alert which can be a hassle to remove). I personally would write them and would probaby see it as a good thing. I'd raise heck and use their reported inquiry as leverage to get the TL removed. "You're giving me grief with this inquiry. The least you can do is to delete the TL".
ETA...also know that the financing arm for Dell changed hands a few times. I don't know if you dealt with CIT Bank back in the day but I think they use someone else now. It would be that financing company that would be doing the report I would assume.
10-11-2010 02:29 PM
Thanks for the advice. Yes they are now owned by Webbank, some outfit based in Utah. It looks like they fund a number of different portfolios.
I have been communicating (via email) with a BA from the exec office, and we have a call scheduled for tomrorow at 9am to talk about my account. I did not bring up the inquiry issue yet. But good idea to use that as leverage.
The whole issue with this Dell account goes back to when I did CCCS. Dell (CIT at that time) was not participating in any CCCS programs (ie, they would not lower interest or discontinue charging fees). So they were excluded from my repayments from the beginning and I was told I had to deal with them on my own. I was a bit miffed with them for not working with me, and since my credit was already trashed, I simply refused to pay them anything. Not saying this is good or bad, but that's how it went down.
Years later, I had a change of heart and called to settle. It tanked my credit, and now they dinged me with an inquiry for no reason! Yeesh. We'll see how far I get tomorrow but I have to agree that the unauthorized inquiry is definitely a good barganing tool, lol.
10-12-2010 10:04 AM
I got the "we can't remove this from your credit report because we're bound by the FCRA" response from Dell. Here's my response:
Thanks for the response; I do appreciate you looking into this for me. However, I do believe we will still need to arrange a time to discuss a more serious issue that has been brought to my attention.
On Saturday 10/9/2010, I received an email from my credit monitoring service, alerting me that a new inquiry has been made on my Experian credit profile. Further research revealed that this inquiry was initiated by "Dell Fin Svcs LP/Web Bank" , on Friday October 8, 2010, for the purposes of an installment loan.
I did not apply for credit at , nor did Dell Financial Services request permission from me to procure a credit report. Further, I do not have any active business relationship, or outstanding obligations, with Dell Financial Services which would legally entitle your company to review my credit bureau report from Experian.
You mention the FCRA in your response below - §604 of this same legislation provides the circumstances under which a can be accessed. I do not believe that Dell Financial Services has met any of the conditions described in these provisions. Can you please explain to me why my credit report was accessed, and under which “permissible purpose” (as outlined in the FCRA) this falls under?
As you are probably already aware, credit inquiries have a negative impact on your overall credit health and FICO credit score. This gives lenders and underwriters the impression that the applicant is “shopping” for new credit and therefore a greater risk. This, in addition to the recent negative update Dell has placed on my credit bureau report, has put me in a precarious position from a credit/risk standpoint.
Please contact me at your earliest convenience to discuss this matter in further detail.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.