My wife and I are applying for a home loan soon and I would like to know how to possibly get rid of these lates on my CR. I have 5 accounts from Sallie Mae similliar to the one below and ALL of these have the exact same late payment dates roughly 3 years ago. Should I try a GW letter for each of the accounts?
|$3,464||Paid or paying as agreed|
Seven year payment history [?]
|3 times (Jul 2009, Jun 2009, Jan 2009)|
Recent payment history [?]
Worst Delinquency [?]
|120 days past due|
|The Worst Delinquency reports the worst missed payment status that has been documented on this account. Your FICO® score evaluates how recently that missed payment occurred and in general, the more recent, the more impact it has on your score. However, the fact that it occurred is still predictive of future payment risk and could be considered by your FICO® score.|
I would send one letter mentioning each account number. If the lates are on the same date, chances are you were making one payment to Sallie Mae at that time, and it was late. Explain that you only missed one payment, but it's hurting you 5 times, how you haven't done it again, and maybe what the late is holding you back from, etc.
You may have to send the letter multiple times, and it may never get the results you want. Some folks here might have some contact info for you if they've had success, but Sallie Mae doesn't often do GW adjustments.