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Established Member
Posts: 15
Registered: ‎11-12-2012
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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
 
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Established Member
Posts: 15
Registered: ‎11-12-2012
0

Re: Scorewatch Update After Goodwill Letter

Anybody?  

Moderator
Posts: 13,892
Registered: ‎04-15-2011
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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.

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Epic Contributor
Posts: 22,406
Registered: ‎01-17-2008
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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.

Valued Member
Posts: 39
Registered: ‎01-26-2013
0

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!
Regular Contributor
Posts: 164
Registered: ‎06-06-2011
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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?

Epic Contributor
Posts: 22,406
Registered: ‎01-17-2008
0

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.

Established Member
Posts: 15
Registered: ‎11-12-2012
0

Re: Scorewatch Update After Goodwill Letter

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