spwvol wrote:
Just wanted to say thanks. Found this site on Thursday and cannot get away from it. You really do not find this information anywhere. Every credit book I have mentions nothing of this.
Well, after getting fired up about improving my credit, I wrote 2 GWL's.
1. Regency Finance Company - 2 small loans each approx 2500. Paid in full. There was a late 30 days on my report from one of the loans so I wrote a GWL to remove late payment.
Even got the Branch Manager's name at the office in Knoxville. What do you think my chances are? Should I write a 2nd letter in 15-30 days.
2. Ed South - Now, this one I am pretty confident about. They are my current student loan lender with a balance of 30000. I was late a couple of payments back in Oct 2005, but since then I have an exceptional payment history with them. What do you think my chances are?
Regards,
Sean
6/14/08: EX: 624, TU: 619, EQ: 611
I think your chances are 50/50.
I would not sent another letter in 15 days. I would wait at a very minimum of 30 days.
The older lates are, the less they hurt. After two years, single 30 day lates have almost nil effect on score.
