@Anonymous wrote:Hi, my first post here. I hope someone can help me with some information.
I recently ran a credit report to find that one card has been closed by grantor's request. This card still has a balance. The account was 60 days past due. This is my oldest credit card by 3 years. The report still shows the original credit limit.
I have read about 'goodwill' letters, but that seems to be for negative incidents that happened in the past, correct? Is this too recent?
The rest of my credit report is good - I'm never late on the payments I make on any of my other credit cards or my mortgage or student loan, and my report reflects that.
This card has been held by a family member in my name. This situation will end ASAP.
But in the meantime, what can I do to mitigate the worst of this?(Other than the obvious - take over the card and pay the late payments due and continue making monthly payments after that. I don't have the money to pay in full.)
Thanks!
Get it now! Get it caught up and to date. Keep making those payments and pay it off. It's been closed so if you don't get this done quick it will end up with a CA and you will have another problem. Once it's paid off, send a GW to them. Good Luck!
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Let me ask this - is the person that has the card and who was supposed to be making payments an authorized user or are you just a cosigner.
Either way, bring it up to current - pay what is past due plus all the interest and fees as quickly as you can. Then as long as your making the minimum montly payments they will never turn it over to a collection agency because they are getting their full share.
I'd suggest paying more than the minimum whenverver possible because other wise interest will bury you even further.
After its been brought up to current you could send a GW letter asking them to remove those months since you've been paying on time for quite longer than when you weren't. Might get lucky.
if not keep paying it down and then once it gets to the point where you've been able to save up a chunk of change offer them a pay for delete with a large lump sum...
again you may or may not get lucky and at the very least they say no and you pay it anyways and then GW them again saying "I made a large payment, please return the kind favor"
@Anonymous wrote:(I apologize, I don't know how to quote here.)
Neither, I'm afraid. The card is wholly in my name, and is, of course, my responsibility. My mother has been making payments on this card because there are items on there from a long time ago that she was responsible for paying, and to my knowledge, it has not had purchase charged to it in over five years. Obviously, it was a risk for me, and a bad one. I ran a credit report and found this negative information on there late last week.
How much of a chunk of change would be good to offer for pay for delete, do you think? I will definitely do as you suggest. When I ask for a pay for delete, that means the entire account is erased from my report, right? This was my first credit card. (Meaning, I have several others, all in good standing, but this will shorten my history?)
to quote, make sure you hit reply to the comment you want to quote. Then when the reply screen comes up, on the upper right of the reply box is a push button that says quote - that should automatically quote what you were responding