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Scorewatch Update After Goodwill Letter

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Established Member

Scorewatch Update After Goodwill Letter

I sent a goodwill letter a few weeks ago and received the below uodate on my Scorewatch today. The status went from 120+ days past due to "bad debt; placed for collections".  The description now also states charge off.  Are the changes going to hurt my credit score?  I am hoping to get a mortgage in the next few weeks!

 

Account opened: 7/2005
Description: Charge off account
Account transferred or sold
Charge
Amount in H/C column is credit limit
 Previously reportedNewly reported
Balance:$0 
Past due:$0$0
Status:At least 120 days or more than four payments past dueBad Debt; Placed for collection;
Last activity:8/1/20108/1/2010
Description:Account transferred or sold
Charge
Amount in H/C column is credit limit
Charge off account
Account transferred or sold
Charge
Amount in H/C column is credit limit
Contact: CAP1/DAMARK INTERNATIONAL INC, PO Box 5253, Carol Stream, IL, 60197   •   (800) 695-6950
 
Message 1 of 8
7 REPLIES
Established Member

Re: Scorewatch Update After Goodwill Letter

Anybody?  

Message 2 of 8
Moderator Emeritus

Re: Scorewatch Update After Goodwill Letter

Seems like it should be the same as before.  I don't see any change that should hurt you.

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
Message 3 of 8
Epic Contributor

Re: Scorewatch Update After Goodwill Letter

Actually, the new reporting is better.  The old one had the status as 120 days past due which would not be good.  The new status shows as a collection.

Message 4 of 8
Valued Member

Re: Scorewatch Update After Goodwill Letter

hey there - wondering if you saw an impact to your score - positive or negative? i just had the same thing happen in the past week actually with the exact same status changes so i'd love to get some insight.

 

thanks! 

-------------
06/2013 -- TU 690 - EX 674 - EQ 673
03/2013 -- TU 638 - EX 685 - EQ 654
01/2013 -- TU 607 - EX 573 - EQ 597

GOAL -- All Above 700... I'll get there soon enough!
Message 5 of 8
Regular Contributor

Re: Scorewatch Update After Goodwill Letter


guiness56 wrote:

Actually, the new reporting is better.  The old one had the status as 120 days past due which would not be good.  The new status shows as a collection.


does that mean that a collection is preferable to a 90 or 120 day past due?

Message 6 of 8
Epic Contributor

Re: Scorewatch Update After Goodwill Letter

No, I'm saying that a collection can't report as current status of 120 past due, it has to report as a collection.  It can report as worst delinquency was 120 past due.

Message 7 of 8
Established Member

Re: Scorewatch Update After Goodwill Letter

I've seen no impact to my score since the change was made.
Message 8 of 8