what are good will letters????????????

[elcarmom]

I keep seeing everyone posting about good will letters... I don't mean to sound dumb but what are they and will they improve my score.. Here is the situation we filed Chapter 7 Bk in april 2011 discharged in august 2011... I beleive for whatever reason when we filed it improved our score we are in the low 500's any suggestions???

[Guava]

Hai there! In short, goodwill letter is a letter you would send to a collection agency or whoever you have derogative account(s) with and beg them to remove that negative info from your credit reports out of sympathy 

Here's an excellent thread from the moderator llecs which has everything you would want to know about GW letters

GW letter Q&A, Examples, and GW Success Stories

Hope it helps

[beb86]

sent 5 gw letters out today myself...with gw's the worst thing that could happen is you lose $ on the stamp

[elcarmom]

great thanks I will do that starting today!!!!

[elcarmom]

Do you think the creditors will budge even though we filed bankruptcy?

[Phitor]

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@beb86 wrote:

sent 5 gw letters out today myself...with gw's the worst thing that could happen is you lose $ on the stamp

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Generally correct, but be aware that there are documented cases of a simple GW letter backfiring and throwing an account into dispute, because 1) the letter was not worded correctly or ambiguously, or 2) the letter was worded correctly, but the recipient processed the request incorrectly. So there is usually always an upside to GWing, but a potential risk to weigh as well.

[Anonymous]

A GW letter is where you ask for GW...?    It's a letter that you send to a creditor asking them to help you out by discontinuing reporting a negative.

[GoodCredBen]

yes you have to be careful not to even remotely use some words that would make them think that you are wanting to challenge them ....

Words like 

Dispute

Challence

....

I am sure there are more lol