SUCCESS: People's United Bank

[themeggerz]

I have *one* 30 day late from 2007 on my credit report that was bothering me.  Mostly because it wasn't late, shouldnt have been late, and I had argued with Chittenden Bank (the owner of the loan) for years. They refused to do anything for me.  People's bought Chittenden Bank, so I decided to give it another shot.

I finally sent a GW letter to people's bank, and after 3 months (yes, 3 months!) they responded that they did a one time courtesy to remove the late.  yes it took over 3 months, and I had given up hope (even thrown away the certified mail slip showing it was delivered).

It was a nice surprise, especially since this really is the ONLY "late" on my credit report.  Yes, it would fall off next year. But it meant something to me.

My letter is true and honest to my situation but it may give guidance to anyone looking or searching the boards.  I did include the piece of the account number I had as a CC: as well as a copy of their entry on my credit reports.

Dear People’s Bank:

I am contacting you, not because I am disputing a debt or arguing anything.  Please do not take this letter as any such action.
 

I am writing to you today regarding my secured (car) loan which I had while I was a college student at _LOCAL STATE SCHOOL_. The purpose of my letter is to see if you would be willing to make a "goodwill" adjustment on the reporting of this account to the three credit agencies.  I opened this account with Chittenden Bank in _HOMETOWN_, _STATE_.
 

My car loan was my first car loan, and as you can see I paid automatically on the same date, every time from my Charter One bank account.  However, in April of 2007 Charter One switched owners (now is Citizens Bank) and started charging me fees for having an account with less than $5000 in it.  I could not keep that much in my account as I was a student working part time.  I ended up going to a community bank, and switching my bill pay over.  All my accounts continued to be paid regularly. I received a phone call from Chittenden Bank’s “Recovery” department that they did not receive my April payment on time. I had never been late, for over 3 years. I checked my bill pay and saw that the bill WAS sent, but apparently did not make the deadline.  I immediately paid the bill (ended up double paying since I could not cancel the already sent bill pay).  The original payment was received the day AFTER the grace period - my community bank took almost 2 weeks to send you the bill pay.  I changed my bill pay to send earlier to prevent this and never made another late payment on my car loan, until I paid it off in 2008.
 

This one negative is haunting me, and while it will “fall off” my credit report soon, it is affecting my ability to buy a home.  It isn’t a good indicator of my credit worthiness – I never made another late payment on this account and I do not have a SINGLE late payment on any of my accounts. As my husband and I look to purchase our first home, we want to make sure we are in the best position possible. We have over 20% saved, including an emergency fund.  I was told by a representative at your call center in _LOCAL BRANCH_ that I could ask for a “goodwill” adjustment to help with my credit score. I hope that People’s Bank is willing to work with me on erasing this mark from my credit reports.
 

I would like to STRESS that the information currently being reported IS accurate. I am simply asking for a courtesy gesture of goodwill in having the credit bureaus remove this account from my report. I do recognize that this request is unique and that it may not be normal policy.  Your consideration of this matter is appreciated, and if you are unable to help me, please let me know so I know where I stand.