When a GW doesn't work

[jrrsmith18]

Just a question, when you write a goodwill to a creditor and they deny it but updates the date last reported to current date is this bad? Or is it when they are adding continued late payments is it bad? I have been trying to GW my last 3 charge offs with Cap One and U.S. Bank but every time it's a no go. However they are always updating the date last reported. Case in point, I paid Cap One charge offs last year around March yet on my reports they say date last reported as March 2015, my last GW letter. They don't add anymore late payments or anything, the only thing that changes is that date. Just wondering if I should keep up with the letters or leave them alone and let them age.

[Anonymous]

GW letters can either help or hurt, usually updated an old CO can hurt your score...

[jrrsmith18]

So with stubborn, un-GW friendly creditors it's best to just let them age?

[Anonymous]

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@jrrsmith18 wrote:
So with stubborn, un-GW friendly creditors it's best to just let them age?

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NO! Never give up.  Some say rebuilding is a marathon, but i like to think of it as a never ending war.  Us credit rebuilders must be Patient, Persistant, & a Pain in the Ass.  Keep sending GW letters, send them more frequently & search for different email addresses and phone numbers to contact. 

[jrrsmith18]

But wouldn't I see gains sooner than by just not sending letters? Like instead of having them keep denying my GWs and keep updating these charge offs which keeps my score depressed, I should leave them alone so they age in the eyes of fico right? Cap One and U.S. Bank are some of the hardest to accept from what I've read on here, so should I just take the small bumps from letting them age or keep sending hoping for that bigger bump from them getting removed? Oh and for your pain in the rear comment, I think I'm already there with Cap One. My last GW to them they replied with an 8x11 folder with all their previous denial responses lol.

[Anonymous]

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@jrrsmith18 wrote:
.... My last GW to them they replied with an 8x11 folder with all their previous denial responses lol.....

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That is hysterical ! I would send it back to them along with a note on how bad it is to waste paper and to be more eco-conscious just cross out the dates and initial moving forward . Try for the humor approach.

[Anonymous]

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@jrrsmith18 wrote:
But wouldn't I see gains sooner than by just not sending letters? Like instead of having them keep denying my GWs and keep updating these charge offs which keeps my score depressed, I should leave them alone so they age in the eyes of fico right? Cap One and U.S. Bank are some of the hardest to accept from what I've read on here, so should I just take the small bumps from letting them age or keep sending hoping for that bigger bump from them getting removed? Oh and for your pain in the rear comment, I think I'm already there with Cap One. My last GW to them they replied with an 8x11 folder with all their previous denial responses lol.

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Maybe, it all depends on what else is on your reports.  If you dont have any other negs, than yes.  If you have multiple collections than i doubt it. 

small bumps or waiting for a large bump is all up to you, i just hate seeing someone give up.  Especially when Cap1 is sending your GW's back to you. 

[Schoolbuskid]

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@jrrsmith18 wrote:
But wouldn't I see gains sooner than by just not sending letters? Like instead of having them keep denying my GWs and keep updating these charge offs which keeps my score depressed, I should leave them alone so they age in the eyes of fico right? Cap One and U.S. Bank are some of the hardest to accept from what I've read on here, so should I just take the small bumps from letting them age or keep sending hoping for that bigger bump from them getting removed? Oh and for your pain in the rear comment, I think I'm already there with Cap One. My last GW to them they replied with an 8x11 folder with all their previous denial responses lol.

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Your FICO is already suffering so you really aren't doing any more harm by sending the constant GW letters. You need to google for contacts. I've had success with Cap 1 by calling to have lates removed, so they will work with you, but it took several phone calls. 

Don't ever stop until you've been satisified. "nothing is really over, until the moment you stop trying" 

[jrrsmith18]

True while I'm not doing more harm, I'm also not getting any improvement. Meh.... I mean I have gotten some pretty good approvals with these recent charge offs still on my reports so I guess I have nothing to loose by keep sending letters. I'll keep up the letters for a while longer and I'll see what happens. Don't really have any credit plans for at least another 18 months. And when I send Cap One another GW I'm eager to see what their response will be this time lol maybe I'm on their breaking point and one more GW is all it'd take 😁

[gdale6]

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@jrrsmith18 wrote:
Just a question, when you write a goodwill to a creditor and they deny it but updates the date last reported to current date is this bad? Or is it when they are adding continued late payments is it bad? I have been trying to GW my last 3 charge offs with Cap One and U.S. Bank but every time it's a no go. However they are always updating the date last reported. Case in point, I paid Cap One charge offs last year around March yet on my reports they say date last reported as March 2015, my last GW letter. They don't add anymore late payments or anything, the only thing that changes is that date. Just wondering if I should keep up with the letters or leave them alone and let them age.

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I would ask them to stop reporting it monthly, per the CRA manual they are to stop updating once its been paid. There is no federal/state law that stops them though. Its spite that they continue to update after you have paid or settled with them. Updating that TL your Fico cannot recover. You can ask for that in your next GW letter as well as an outright removal.