Rebuilding Credit - GW letter

[mrs_madnhain]

Ok, I have been given some really great idea about rebuilding with a secure credit card and some have even suggested Lexington law because most items on credit report are paid off..

So can someone give me ideas on how to get paid items off my credit to bring up my score. I have heard much through the forums about good will letters, can anyone tell me what their success rate was for having paid items removed from credit early and they type of letter or sample letter of of such a request.

Thanks for all your help

[p-]

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@mrs_madnhain wrote:

Ok, I have been given some really great idea about rebuilding with a secure credit card and some have even suggested Lexington law because most items on credit report are paid off..

So can someone give me ideas on how to get paid items off my credit to bring up my score. I have heard much through the forums about good will letters, can anyone tell me what their success rate was for having paid items removed from credit early and they type of letter or sample letter of of such a request.

Thanks for all your help

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Here is a link to Frequently Requested Treads.

That page includes a link to the GW example letters.  I personally haven't had a lot of luck with GW on paid items, but some have and it's worth a try.  Also if any of the information is not exactly correct you should dispute with the CB's.  You might find that some will just go away.

I reccomend making a spreadsheed showing the DOFD of each, and calculating when it will age off of your report.  Start by working on the most recent or unpaid items as they will have the greatest effect on your score.  And always try for a PFD before you pay.  By the time you're done with those, some of the older ones may age off.

Good luck!

[breeo]

Where do you find the dofd ? Thank you !

[llecs]

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@breeo wrote:
Where do you find the dofd ? Thank you !

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DOFD is the date you first went late and never recovered. If you pull your full reports from annualcreditreport (or directly from the CRAs), you'll find that EQ will list the DOFD. TU and EX do not, but they usually will list the drop off dates. You can get a rough estimate of the DOFD by subtracting 7 years from the drop off date. Another method is to look at the OC account if reporting. YOu'll usually see a 30 day, a 60, 90, and so on. Assuming it wasn't brought current, the DOFD would be at that first 30 day.

[mrs_madnhain]

Ok All I have sent GW letters to everyone on my credit report.

In Summary this is what was sent.

1 letter requesting that negative collection be deleted if payment was made in full > Response: Letter stated collection attempts would stop but said nothing about deleting from credit report.

1 letter requesting forgiveness on late payments from 2010 (Mortgage during refinance) > Response: They will not forgive or change everything reported is accurate.

Several letters & I mean several on accounts that are paid in full, and they state paid in full closed on credit report , however asked if they could delete because they were paid and closed accounts. > Response: They do not delete from the credit reports and everything is correct.

So now what, I need to get my score up up up, and I am not sure how else to go about it. Most closed / paid collections don't fall off until 2013 or later.

Any more ideas?

[kjm79]

Type in the name of the collection agency you are dealing with and gw or goodwill to find specific details on how people dealt with that company.  If you do a search for specific companies, for example "chase gw success" you will find people who had, success in sending Chase a GW letter, where they sent it, what they said, what kind of success they had.  The general answer toy our "now what" question is, keep sending the letters.  You want specific, you've got to list specifics or do a search. 

[mrs_madnhain]

Unfortunately there were not listings for the specific agencies that are on my credit report.

Does anyone have other suggestions on how to remove paid collections from my report or do I have to wait until they fall off?

[llecs]

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@mrs_madnhain wrote:

Does anyone have other suggestions on how to remove paid collections from my report or do I have to wait until they fall off?

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Keep sending GWs. Sending these letters is a numbers game and rarely are you successful on the first few tries.