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Can a GW be honored then revoked?

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Regular Contributor

Can a GW be honored then revoked?

Could a GW removal of a derog be honored removed from your reports and then added back at a later date if an investigation of the derog resulted in inssuficent evidence? I only ask because I recently had a GW removal of a derog honored by Capital One and in the confirmation letter it stated that the GW removal was being honored however no evidence of the conversation I had with customer service from over two years ago could be found as stated in my correspondence letter. I remember my conversation I had with the CSR woman but they are saying they have no audio recordings of the call on file. Since the removal has already taken place could they reinstate the 30 day late that was removed from the closed account on the grounds that they think the call was made up. I dont understand if they are stating as their reasoning for accepting the GW removal or if they are trying to insinuate I'm lying. Just an interesting thought going through my head as this is my first and hopefully last GW removal I will ever need.
Cards I currently have and their CL.
Cap1 Quicksilver $2,100 | Amex BCE $15,000 | Discover It $14,000 | Discover It Chrome $6,000 | Chase Freedom $1,500 | Citi DC $1,000 | PenFed PCR $6,000 | NFCU $13,500 | NFCU(CLOC) $15,000 | PenFed(PLOC) $2,000 | DCU Platinum $10,000 | VS $1,250 | Marvel Mastercard $2,000 | Citizens Bank $2,300 | Lowes $20,000 | Home Depot $1,250 | Gamestop $500 | Target $800 | PayPal Extras $5,000 | PayPal Credit $3,000
Scores as of 4/24/19
(FICO 8)
TU: 727 INQ: 11

EQ: 696 INQ: 17

EX: 696 INQ: 15


AoOA 4yr 2mo
AAoA 1 yr
Gardening until Sept 1st 2019
Business Credit
Amex Amazon Prime Business $20,000
Message 1 of 5
4 REPLIES 4
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Valued Contributor

Re: Can a GW be honored then revoked?

If it is now removed due to good will, I would relax and be happy.

 

I'm highly doubtful it will be readded, if Cap One (much as I hate them lol) did the GW deletion, it should be permanent. 

 

Good for you!! 




Message 2 of 5
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Legendary Contributor

Re: Can a GW be honored then revoked?

They could revoke a good will deletion if it was a purely voluntary deletion on their part, meaning it was made without having received anything of value from the consumer in exchange for the deletion.  Agreements that dont involve an exchange of something of value are not binding contracts.

 

If the GW deletion were, for example, part of a pay-for-deletion agreement, then both parties are exchanging something of value.

The creditor or debt collector gets $, and the consumer gets the agreed deletion.

However, if the GW deletion is simply a voluntary "agreement" by the creditor/debt collector to delete, then it is not a binding legal contract and the consumer would not be able to sue for breach of contract should the information later be reinserted.

 Can a GW be revoked?  Yes, if not part of a PFD agreeement.

Will it?  Not likely, since it is a lack of good faith or a poor business practice that might result in a headache on their part, such as answering a BBB complaint that asserts a poor business practice.

 

Message 3 of 5
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Regular Contributor

Re: Can a GW be honored then revoked?

Thank you both for your insight. I have been pondering this since I received the confirmation letter and you have clarified it for me.
Cards I currently have and their CL.
Cap1 Quicksilver $2,100 | Amex BCE $15,000 | Discover It $14,000 | Discover It Chrome $6,000 | Chase Freedom $1,500 | Citi DC $1,000 | PenFed PCR $6,000 | NFCU $13,500 | NFCU(CLOC) $15,000 | PenFed(PLOC) $2,000 | DCU Platinum $10,000 | VS $1,250 | Marvel Mastercard $2,000 | Citizens Bank $2,300 | Lowes $20,000 | Home Depot $1,250 | Gamestop $500 | Target $800 | PayPal Extras $5,000 | PayPal Credit $3,000
Scores as of 4/24/19
(FICO 8)
TU: 727 INQ: 11

EQ: 696 INQ: 17

EX: 696 INQ: 15


AoOA 4yr 2mo
AAoA 1 yr
Gardening until Sept 1st 2019
Business Credit
Amex Amazon Prime Business $20,000
Message 4 of 5
Highlighted
Super Contributor

Re: Can a GW be honored then revoked?

I think it's always a best practice to get any agreement to make a GW adjustment in writing from any lender.  This way if it ever does pop back up on your credit report, you have the documentation to state that it shouldn't be there.  GW approval letters normally don't mention anything regarding an actual GW adjustment.  They usually just state something very simple like "...we are submitting a request to the credit reporting agencies for your account to read paid as agreed for the months of Jan-Mar 2015..."  So, if something down the line pops back up from Jan-Mar 2015, you have a piece of paper stating that it shouldn't be there.  If you were to submit a complaint to the BBB and/or CFPB and upload said letter, I have very little doubt that it would be rectified very quickly.

Message 5 of 5
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