Will sending GW letters possibly hurt me in these cases?

[KB2013]

Hi guys! First off, I'm new here. I've spent the past couple weeks reading websites and forums regarding how to improve/ rebuild your credit and I've decided to put myself into a commited relationship with this forum.

So here's my situation: I'd like to purchase my first home at the end of this year/ beginging of next year. I have two open negative accounts. One account is from TMobile that went to "enhancrcvrco" (enhanced recovery company) and has been paid but the status still shows as open. My question on this one is should I call and talk to them about correcting the status (dispute didn't work) OR send a GW letter to attempt to have it completely removed? Or both??

The second account is an Old Navy CC that I'm going to send a GW letter asking for the removal of one 30 day late. No help needed there.

The other accounts show a closed status but I want to send out a GW letter to try to get them removed...I'm just unsure if this will help or hurt me. I don't have a lengthy credit history (oldest account is just under 8 years old). The oldest was a CC from HSBC and I ended up settling the debt. I've done lots of reading on this and I keep finding different answers so my biggest question is this:

If the GW letter works, and the item is removed, could it hurt me more than help me?

I'm trying to figure out where that fine line is that could cause me to hurt myself.

(The items I'm thinking of sending the letters for are between 4 and 7 years old).

I appreciate any advice you guys can offer. I'm truly trying to educate myself, not only for now, but for the future. These things seem slightly overwhelming and I just really need advice from people who have been through the same.

[mauve]

On the first one, I don't see why a GW would hurt. However, it sounds like it's reporting inaccurately. Did you include proof with your dispute? Do you have proof? In any case, I would consider writing a GW letter that asks for a deletion, and if they don't do the deletion, to at least update it as paid, closed.

How recent is the 30 day late?

Are you planning to go conventional or some other loan program for your home purchase? If you are plannng to go conventional, your score can determine either your rate or your closing costs via points (I'm getting ready to refi with my CU and they don't up your rates for a lower score, they just charge you more points - there isn't a higher rate / lower points option). If you are not planning to go conventional, you just have to worry about having a qualifying score.

So, yes, absolutely, complete removal of any account older than your AAoA could hurt your score and complete removal of any account younger than your AAoA could help your score. How bad are the negatives on the accounts? Like, say, if you had a chargeoff on an account that was 7 years old, I would probably GW it. If it's a 7 year old 30 day late...don't even hint you'd consider asking them to remove the account.