topic Re: Good will issue with my favorite bank in General Credit Topics

Good will issue with my favorite bank

BrandonSS — Tue, 21 Sep 2010 18:48:42 GMT

Subject: I tried a GW letter to my bank and was declined.

History: I've been getting my loans through a small local bank since high school. I've had somewhere around 12 of them without looking at my report. The loan officer also graduated only a year ahead of me in high school. He is still my loan officer, but he is the Vice President of the branch now as well.

I have a few bad dings of lates on 3 accounts, 1 particularly, that are from around 2005-2007 or so. Years ago. Since then I've been in my career and stable for 4+ years and counting. No lates at all but it shows 1 in 2008 for some reason. Just got really behind and struggled to catch up after a layoff.

Here are the baddies from worst to bad:

Account #1:

30 days late - 3 times (Feb 2008, Aug 2006, Jul 2006)
60 days late - 3 times (Nov 2006, Oct 2006, Sep 2006)

Account #2:

30 days late - 1 time (Apr 2006)

Account #3:

30 days late - 1 time (Mar 2005)

I imagine the 30s arent hurting much but i bet the 60s are dingin me. I talked to the LO/VP and he said he would be able to do whatever i needed done. So I sent him a formal GW letter. He eventually replied...

I can't really get anything done on the goodwill request. It is not beyond my ability, but I really don't have a good explanation for changing it. You were late and you were late a lot. However, with it being such a long time ago it should not be effecting your credit too bad. Usually your score is more based on what has happened within the last 24 months. It sounds like you have things tracking the right direction and I have a feeling you will see a big increase within the next six months.

So that sucks... should I try someone above him at corporate? I dont want to burn a bridge though, he has been great to me. Always approving me and going out of his way to help, except for this case.

Thoughts?

Re: Good will issue with my favorite bank

haulingthescoreup — Tue, 21 Sep 2010 17:29:41 GMT

Just IMO, but I wouldn't rock the boat, since you have a personal relationship with him. It might be different if you were just trying to find different e-mail addresses, in hopes of getting lucky. You might one day want a different favor from him, one that he's more ready to help on.

He's not exactly correct about them not counting much any more, but it is true that things would be much, much worse if the lates were within the last 24 months.

It's your decision, of course.

Honestly, IMO, I'd let it go. Well, other than asking them to fix the reporting of the one showing as 2008. Is that date showing on a full report, or just on a report from a third-party monitoring service, including a myFICO report? If it's on the full reports, it's hurting you. If it's only showing on a monitoring report, it's not.

Re: Good will issue with my favorite bank

Lel — Tue, 21 Sep 2010 17:33:05 GMT

+1 to HTSU's advice. These relationships are not easy to come by. With time and good management of your finances, those lates will eventually drop off.

Re: Good will issue with my favorite bank

RobertEG — Wed, 22 Sep 2010 01:43:28 GMT

Some creditors stand rigidly, in their corporate policy, with abiding strictly by their credit reporting agreements with the CRAs.

One clear policy in the credit reporting manual published, uniformly, by all 3 CRAs is that prior, accurate reporting should not be deleted based on subsequent payment of the debt.

I would not a put corporate offficial, especially one with whom you have a personal relationship with, on the spot by asking him again to possibly deviate from bank policy,and intervene, in view of your personal relationship, espcecially when he has specifically stated that he does not see reason to delete. Eight prior derogs are a lot to ask for deletion.

Maybe just beef-up your prior GW letter a bit, send again, and let the normal underlings who deal with such matters handle it.