cancel
Showing results for 
Search instead for 
Did you mean: 

To GW or not to GW. That is the question

tag
Anonymous
Not applicable

To GW or not to GW. That is the question

Interesting situation here and I'm not sure what would be better at this point. I have an account that is currently paid in full and closed that shows 30-120+ days late from 2007. This account is my 2nd oldest account that shows on my report currently as well as having one other account opened in the same year. If I send a GW letter and the CCC ends up deleting the account all together, will this hurt more than it will help due to the age of the account?

To put it in perspective, I have around 15 other accounts of various types showing open dates of 1998-2008, some current, some old accounts that have been closed. Aside from this one account I only have one other that shows 1 30 day late.

 

 

Message 1 of 14
1 ACCEPTED SOLUTION

Accepted Solutions
Anonymous
Not applicable

Re: To GW or not to GW. That is the question

Several have had success with a GW via e-mail, but they also owed money on the charge off.  I have tried GWing my charge off - $0 balance - but so far, no luck. 

 

I e-mailed the president of card services again yesterday explaining my situation and pleading with him to delete it.  I would contact higher ups regardless, because basic CSRs must "protect the integrity of the credit reporting system."

 

 

Message 6 of 14
13 REPLIES 13
cobaltnv
Established Contributor

Re: To GW or not to GW. That is the question

It is difficult to provide specific advice with knowing what your AAoA is and what it would be if the account was removed. However, IMO the 120 day late is hurting way more then the age helps. I would gladly sacrifice some age to get rid of a 120 day late!

TU 810: EQ 813: EX 814 (9/16/09--Loan officer pull)

Helpful Threads
Frequently Requested Threads
Understanding your Fico Score
Message 2 of 14
Anonymous
Not applicable

Re: To GW or not to GW. That is the question


@cobaltnv wrote:

It is difficult to provide specific advice with knowing what your AAoA is and what it would be if the account was removed. However, IMO the 120 day late is hurting way more then the age helps. I would gladly sacrifice some age to get rid of a 120 day late!


 

And the Congregation says "AMEN."
Message 3 of 14
RobertEG
Legendary Contributor

Re: To GW or not to GW. That is the question

JR,l I dont think anyone on this site would dispute this statement.

If you can GW away a major derog on payment history, then AAoA is just background noise in credit scoring.

Go for it!

Message 4 of 14
Anonymous
Not applicable

Re: To GW or not to GW. That is the question

Well alrighty then!  Thanks a ton for the input, it's much appriciated.  Has anyone had any luck with a Chase GW via e-mail or should I just stick with normal USPS?
Message 5 of 14
Anonymous
Not applicable

Re: To GW or not to GW. That is the question

Several have had success with a GW via e-mail, but they also owed money on the charge off.  I have tried GWing my charge off - $0 balance - but so far, no luck. 

 

I e-mailed the president of card services again yesterday explaining my situation and pleading with him to delete it.  I would contact higher ups regardless, because basic CSRs must "protect the integrity of the credit reporting system."

 

 

Message 6 of 14
Anonymous
Not applicable

Re: To GW or not to GW. That is the question

So Chase didn't respond to my emial, but it looks like they came through. The account with the 150+ days late is gone!  Interestingly enough TU increased by 8 points but EQ lost 7.  I'm pretty sure in the long run it will be for the better.  I still have one 60+ late showing, but it's from well over two years ago so I'm not even sure I want to mess with it.
Message 7 of 14
llecs
Moderator Emeritus

Re: To GW or not to GW. That is the question

Congrats! The drop could be from the loss of history (my DW lost points upon removing an unpaid CO once) and/or rebucketing if that was your last derog (other than the 60).
Message 8 of 14
Anonymous
Not applicable

Re: To GW or not to GW. That is the question

After looking a bit more, the AAoA is still the same, but I have a new account that just posted to EQ this month but was already on TU last time I pulled.  I do have a few 30 days on there from 2+years ago (total of 4 including the 60) so I'm not sure any bucket change happened but who knows. Anyhow, I have no doubt in a month or two it will creep back up again.  It just feels really good to have that eyesore off my reports!
Message 9 of 14
Anonymous
Not applicable

Re: To GW or not to GW. That is the question

Forgive my ignorance but what is a "GW"?
Message 10 of 14
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.