topic Re: Goodwill in General Credit Topics

Goodwill

Anonymous — Wed, 04 Aug 2021 19:23:31 GMT

I wrote a goodwill letter to one of my creditors. I was short by $2.00 didn't realize it and got reported 30 days late over the $2.00 shortage. They told me that they don^

t do goodwill as it violates FCRA. Is that true? Creditor is a credit union by the way.

Re: Goodwill

pizzadude — Wed, 04 Aug 2021 19:40:11 GMT

@Anonymous wrote:
I wrote a goodwill letter to one of my creditors. I was short by $2.00 didn't realize it and got reported 30 days late over the $2.00 shortage. They told me that they don^
t do goodwill as it violates FCRA. Is that true? Creditor is a credit union by the

That's a fairly standard response, but they're not obligated to report to the CRBs. The FCRA only mandates that reporting is accurate.

Re: Goodwill

Anonymous — Wed, 04 Aug 2021 20:14:48 GMT

So basically it doesn't violates FCRA, they just don't want to goodwill.

Re: Goodwill

pizzadude — Wed, 04 Aug 2021 20:26:21 GMT

@Anonymous wrote:
So basically it doesn't violates FCRA, they just don't want to goodwill.

Yeah that's pretty much it. You can always keep trying, sometimes you'll get a different answer from a different person

Re: Goodwill

Anonymous — Wed, 04 Aug 2021 20:31:20 GMT

I was pissed off so I filed a dispute with Experian about this past due for 2 bucks. I will write another letter to credit union higher ups as well.

Re: Goodwill

pizzadude — Wed, 04 Aug 2021 21:33:21 GMT

@Anonymous wrote:
I was pissed off so I filed a dispute with Experian about this past due for 2 bucks. I will write another letter to credit union higher ups as well.

$2 is a rounding error for most banks, not sure if this was a credit card or some type of installment loan but if it was your last scheduled payment they could have easily written it off instead of dinging you for it.

Re: Goodwill

Anonymous — Wed, 04 Aug 2021 21:27:03 GMT

@pizzadude wrote:
@Anonymous wrote:
I was pissed off so I filed a dispute with Experian about this past due for 2 bucks. I will write another letter to credit union higher ups as well.

$2 is a rounding error for most banks, not sure if this was a credit card or some type of installment loan but if it was your last scheduled payment they could have easily written if off instead of dinging you for it.

It is a credit card, paid $89 instead of $91.

Re: Goodwill

Anonymous — Fri, 06 Aug 2021 00:59:21 GMT

I think that is horrible that any bank would give you a 30 day late over a $2 honest mistake. You need to send demand letters that they remove that to the credit bureaus. I am sure they will handle it for you

Thanks

Mark

Re: Goodwill

Anonymous — Fri, 06 Aug 2021 01:15:10 GMT

@Anonymous wrote:
I think that is horrible that any bank would give you a 30 day late over a $2 honest mistake. You need to send demand letters that they remove that to the credit bureaus. I am sure they will handle it for you
Thanks
Mark

Who should I send a demand letter to? I tried that already with the CU after goodwill.

When you say "they" are you referring to the CU.

Re: Goodwill

Anonymous — Fri, 06 Aug 2021 01:50:05 GMT

I would call. Explain. Escalate where needed. Sometimes a call does the trick.

Re: Goodwill

coldfusion — Fri, 06 Aug 2021 10:46:21 GMT

@Anonymous wrote:
@Anonymous wrote:
I think that is horrible that any bank would give you a 30 day late over a $2 honest mistake. You need to send demand letters that they remove that to the credit bureaus. I am sure they will handle it for you
Thanks
Mark
Who should I send a demand letter to? I tried that already with the CU after goodwill.
When you say "they" are you referring to the CU.

While it might be arguable that the derog over $2 is a bit petty, by your own admission it's legitimate and accurate. Beware the laws of unintended consequences if you decide to send demand letters to the CRAs.

Re: Goodwill

SoCalGardener — Fri, 06 Aug 2021 22:43:26 GMT

@Anonymous wrote:
I wrote a goodwill letter to one of my creditors. I was short by $2.00 didn't realize it and got reported 30 days late over the $2.00 shortage. They told me that they don^
t do goodwill as it violates FCRA. Is that true? Creditor is a credit union by the way.

It's ludicrous to end up with a ding on your credit for an honest mistake, a silly $2 underpayment. If I were you, I'd take the advice already given in this thread: escalate it with the creditor.

Call, and immediately request a supervisor. If the CSR tries to talk to you first, be very polite and calm and just explain what happened, it was an honest mistake, you took care of it ASAP, you're a good customer, and you'd really like it taken off your CRs. If you get nowhere with him/her, then insist on a supervisor. Do it over again. Keep going up the ladder until you get a yes--that's what I'd do. I would be so upset at getting a derogatory mark on my credit because of a dumb mistake I made, I wouldn't rest until it was resolved.

Note that I'm assuming you are a good customer and do have a good record with them. If not... *shrug*

Re: Goodwill

Turbobuick — Fri, 06 Aug 2021 23:43:05 GMT

I would shred the card and then re-shred it again, then mail the bits to them with $2 monopoly money.