03-16-2013 07:28 AM
So before I began my rebuilding journey and before I knew about PFD's, I decided to pay Capital One after they had charged off the account. Currently, the account is showing empty (no late payments, 0 balance) but still showing "Payment after Charge Off" and its a negative indicator. Would it be worth it to try and send GW letter to them. Keep in mind, I have no existing accounts with them.
Just want to know the best route to go on this one.
03-16-2013 07:36 AM
03-16-2013 11:34 AM - edited 03-16-2013 11:34 AM
In order to do a charge-off, and thus shift the debt from a receivable asset to a business loss, the owner must make the determination that they consider the consumer is not going to pay the debt. It has become "uncollectible," usually based on passage of time over 120 days.
The significance in requesting good-will deletion of a charge-off, even if the debt is paid, is that their past dealing with you resulted in that determination.
Not usually a good entry point for requesting their favor.
Thus, I would include some explantion in your GW request that provides a reason why you delayed in payment until after the point where every indication to them was that you were not going to pay. Extenuating circumstances?