Re: GW Example Letters
05-06-2008 08:45 PM
I sent a GW letter to my credit card company and received a call today stating that it would be illegal for them to make an adjustment to my credit report. They suggest I send a "statement" to be placed on my report. as anyone else received this kind of answer? TH
I've been telling some that I was told by a TransUnion representative to send the letter. Quite a few people have been told by a CRA Rep that they could get them removed with GW letters, so it has happened. If you want this statement on your letter to actually be true, you can call as ask specifically about GW letters. The CSR I talked to said that it was a good idea, so to me that's as good an endorsement as I'm likely to get haha.
Has anyone tried sending a GW letter to a lender for student loans? I was 30 days late with a payment last fall from when my father was going through some major health issues. I had the ability to pay, but I lost track of it amidst everything else. The fun part is, since I haven't consolidated them, it counted as 4 individual 30-day lates even though I pay them with one check to the same place. Other than that one month, everything's been paid above the minimum and on time.
For comparison, my EQ score (which does have the student loans and the late payments) is 674 while my TV score which doesn't have the accounts at all is 773. Pretty big difference and I'm sure most of it is due to the accounts on one report and not the other.
Is this worth giving a shot for a GW?
Sometimes it really is the little things that can trip you up when you're dealing with major family situations. It's definitely worth a shot, especially since you were only late once. I understand about the "same loan/really four loans" thing, my Sallie Mae loan was considered two loans by Sallie Mae (sub and unsub loans) so even though it was the same promissory note and the same bill every month, every little change effects both.
Since it's basically the difference between four delinquent accounts and four perfect accounts, I'd try really hard to convince them to remove just the lates. Let them know about your situation and remind them that you paid perfectly before and after that month. Even if it costs you a letter a week it's still saving you money long-term to try a GW letter.