Frequent Contributor
iltph
Posts: 356
Registered: ‎02-28-2008
CU sent a response to my GW letter
[ Edited ]

Three years ago I paid off a 5 year auto loan that I had for $27,000 with my credit union, where I've had an account for almost 30 years. They are reporting six 30 day lates to all three CRAs so I sent them a GW letter. I told them one of the month's that is being reported late is because my check was deposited into my dad's account instead of mine (which is off by just one digit).

 

They sent a letter back stating the following:

 

That they have found the information that is being reported in my credit profile is correct.They do not want to endanger my credit ratingor destroy the good relationship I have maintained in the past. They have notified all three CRAs that the information that was reported is correct and no changes will need to be made.

 

Does anyone know of a good response to this that I could send to them? I don't know why they act like the information they are reporting is correct as though it would really kill them to stop reporting the 30 day lates. This is going to remain on my CR for another 7 years, since paid accounts remain on CRs for 10 years after they are paid off. Is this really hurting my FICO since the lates are over 3 years old? (as in would it really make a difference if they are there or not?)

Message Edited by iltph on 01-02-2009 10:57 PM
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April 2009: TU 768
March 2009: EQ 671
February 2009: EQ 666
January 2009: TU 667 | EQ 620 | EX 669
December 2008: TU 651 | EQ 625 | EX 649
April 2008: TU 642 | EQ 636 | EX 635
November 2007: EQ 542


November 2006: EQ 501
Moderator Emeritus
Posts: 11,562
Registered: ‎08-29-2007
Re: CU sent a response to my GW letter

Respond with a nice letter stating that you don't dispute the accuracy but ask that they not report those dates.

 

 

 

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Established Contributor
Chopbrocoli
Posts: 805
Registered: ‎05-11-2007
Re: CU sent a response to my GW letter
They probably thought you were disputing. I would send out another letter emphasizing that you have been a loyal customer, apologetic for the past, and would like them to change the late.
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New Contributor
RLL1171
Posts: 73
Registered: ‎12-09-2008
Re: CU sent a response to my GW letter

iltph wrote:

Three years ago I paid off a 5 year auto loan that I had for $27,000 with my credit union, where I've had an account for almost 30 years. They are reporting six 30 day lates to all three CRAs so I sent them a GW letter. I told them one of the month's that is being reported late is because my check was deposited into my dad's account instead of mine (which is off by just one digit).

 

They sent a letter back stating the following:

 

That they have found the information that is being reported in my credit profile is correct.They do not want to endanger my credit ratingor destroy the good relationship I have maintained in the past. They have notified all three CRAs that the information that was reported is correct and no changes will need to be made.

 

Does anyone know of a good response to this that I could send to them? I don't know why they act like the information they are reporting is correct as though it would really kill them to stop reporting the 30 day lates. This is going to remain on my CR for another 7 years, since paid accounts remain on CRs for 10 years after they are paid off. Is this really hurting my FICO since the lates are over 3 years old? (as in would it really make a difference if they are there or not?)

Message Edited by iltph on 01-02-2009 10:57 PM

Look and see when you first went delinquent on your CR. The month of the first delinquency is the date that starts the 7 years. Only paid account that were totally in good standing stay on your report for 10 years.

 

If the month of your first delinquency was 1/2002 then you paid it off in 6/2006, then it should fall off 1/2009 not 6/2016 . Hope that makes sense. It may also take up to 30 days once the expiration date comes for it to actually fall off.

FICO 12/9/08 TU 648 EFX 640 EXP 618
FICO 12/17/08 TU (?), EFX 635
FICO 12/24/08 TU (?) EFX 616
FICO 1/21/09 TU (?), EFX 623
FICO 3/3/09 TU 654, EFX 700
FICO 4/9/09 TU 655, EFX 705
Moderator Emeritus
Posts: 11,562
Registered: ‎08-29-2007
Re: CU sent a response to my GW letter

RLL1171 wrote:

 

Look and see when you first went delinquent on your CR. The month of the first delinquency is the date that starts the 7 years. Only paid account that were totally in good standing stay on your report for 10 years.

 

If the month of your first delinquency was 1/2002 then you paid it off in 6/2006, then it should fall off 1/2009 not 6/2016 . Hope that makes sense. It may also take up to 30 days once the expiration date comes for it to actually fall off.


The lates themselves remain for only 7 years. If all the lates have came off before it is time for the account to fall off, then the account can turn to a positive account remaining another 3 years.

 

 

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