One last baddie proving impossible to deal with!

[Anonymous]

I had a personal loan through WesBanco, I ended up paying the loan off in full after two years. The only problem is through the two years I had 5 late payments, resulting from being laid off in December 2014. They refused to work with me at all during that time, so I pretty much just let it go, then once I had a job I paid it off in one lump. The account is closed showing 120 days late.

Fast forward I have sent 5 GW letters asking for 1-3 lates or any lates to be removed, numerous phone calls to try as well. Everytime I get this answer " Since the account is closed, we can't change anything on a closed account". I know its BS, out of the 5 GW letters I sent I have recieved zero in return, nor any phone calls. 

This is the only baddie I have left, and I know its holding my score down by at least 150 points. Any chance of just disputing it with the CRA's, and the bank not responding and them removing the lates? 

Then on TU, there showing 2 extra lates in May and June when the loan was paid in full in April? They won't budge on that either since its "closed". 

I think maybe this bank is just unforgiving perhaps? The only reason I wanted these took care of is because a loan officer told me these were stopping me from getting my car refinanced from 18.9% down to at least 12%. He said if they wouldn't work for me, no car lender would work with me with 5 lates until they fall off in 7 years. 

Any ideas?

[gdale6]

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@Anonymous wrote:

I had a personal loan through WesBanco, I ended up paying the loan off in full after two years. The only problem is through the two years I had 5 late payments, resulting from being laid off in December 2014. They refused to work with me at all during that time, so I pretty much just let it go, then once I had a job I paid it off in one lump. The account is closed showing 120 days late.

Fast forward I have sent 5 GW letters asking for 1-3 lates or any lates to be removed, numerous phone calls to try as well. Everytime I get this answer " Since the account is closed, we can't change anything on a closed account". I know its BS, out of the 5 GW letters I sent I have recieved zero in return, nor any phone calls. 

This is the only baddie I have left, and I know its holding my score down by at least 150 points. Any chance of just disputing it with the CRA's, and the bank not responding and them removing the lates? We cannot advocate the disputing of valid credit information on My Fico, for the valid lates you would have to get a goodwill adjustment from the creditor.

Then on TU, there showing 2 extra lates in May and June when the loan was paid in full in April? They won't budge on that either since its "closed".  This would be disputable since there cannot be late payments if the loan is paid in full prior. I would use a Section 623 dispute. I will also caution you that disputing may evaporate any goodwill they may have its always possible they are on the fence.

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Direct-dispute/td-p/2309095

I think maybe this bank is just unforgiving perhaps? The only reason I wanted these took care of is because a loan officer told me these were stopping me from getting my car refinanced from 18.9% down to at least 12%. He said if they wouldn't work for me, no car lender would work with me with 5 lates until they fall off in 7 years. Im not sure I buy this line of thinking, they may be reluctant for a few years but as it ages there is less of an impact.

Any ideas?

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[Anonymous]

Thanks, gdale6, I thought the same about what the loan officer said. I understand it will hurt my chances, but from what he was saying, my credit will never go up over 550 with 5 lates on an account. I don't see why. There are lots of people here with probably worse histories with high 600's? 

I think I will dispute it with TU, after 5 letters and numerous phone calls, they won't budge on removing them, so I might as well fire up the disputes. At least that will make them look and respond to the CRA, and if they don't a TU rep said they would just remove it completely if they don't respond in 30 days. The TU rep said it was actually quite common for that to happen...I just really love TU they are always so nice and helpful to me.

[Anonymous]

I doubt 5 lates are going to hold a score under 550 for 7 years, I had 4 lates (2 student loans reporting one 60 and one 90 each) that just recently dropped off. My scores prior to the drop off hit 780+. It takes awhile and they will hold your score down for a long time, but after awhile the damage is lessened. My score comments always stated that the delinquencies were the number one factor, however when they dropped off my scores did not move noticeably and I have a new number one factor (loan balance as I just refinanced a car and boat loan and they are at 75% or so). So by 6+ years they had no noticeable effect on my scores, although I always had to explain the situation on manual reviews for loans.

[Anonymous]

Hopefully when it comes time to refi, or buy a new one, I can find a lender to accept my explanation and hopefully work with me, I think this bank just wasn't interested in less than stellar credit. Even tho I told them I was just looking to do it in the next year where my scores would hopefully be 620+, but the loan officer was convinced my score would stay the same as it is now and not move.

So it is possible to achieve 650+ with 4-5 lates afterall...I figured as much, but was just upset at the moment with the response I got from a person that should know how this works...

[Anonymous]

I have 5 lates with TransUnion there are 120 days late, 2 are Capital one, now i have 3 capital one credit card, Hope they accept my GW letters and remove them. 

my score its 626 TransUnion  Expirian was my lowest , they remove two of the lates gained 28 , only have two Baddie and 2 collection and one public record . Making payments on time with credit card does make a diference no late payments for 1yr 4 months. I maxed out two of my credit card lost 10 points , pay it off on 3 months gave me 35 points. 

Yes you can go over 550 with 5 lates , I did by just making payments ontime with  secure Capital one $500 card.     Took me 6 months to go from 568 to 641 Expirian. Now I have 3 more unsercured cards . Payment history was fair now its Good, Removing all lates will help to make it very Good.

[taxi818]

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@Anonymous wrote:

I doubt 5 lates are going to hold a score under 550 for 7 years, I had 4 lates (2 student loans reporting one 60 and one 90 each) that just recently dropped off. My scores prior to the drop off hit 780+. It takes awhile and they will hold your score down for a long time, but after awhile the damage is lessened. My score comments always stated that the delinquencies were the number one factor, however when they dropped off my scores did not move noticeably and I have a new number one factor (loan balance as I just refinanced a car and boat loan and they are at 75% or so). So by 6+ years they had no noticeable effect on my scores, although I always had to explain the situation on manual reviews for loans.

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totally agree. after some time. they barely effect score. but i can't imagine lates holding you down 150 points. ok. maybe 80 points. but in any case would be nice to get them to delete.  you can't force them. as it is their right. i was in same situation. with a cable bill. 5 years old. only negative. no matter what they would not delete. somehow met the COO. explained all to him and within 3 days was deleted. after fighting over a year in vain. good luck. and keep fighting.

[Anonymous]

Yeah, them utilitiy bills are insaine to get off as well, or to even settle with for less than owed... Feel your pain there. But yes, I won't let this get me down, I opened up a dispute with TU, thank GOD it was TU and not EU, as they are a total PITA to deal with...