Help with lates and closed account

[Anonymous]

He always paid bills on time with no lates or derogs; all of his scores were in the mid / high 700s prior to this - He had recently opened a Jared Jewelry account and made 2 payments. Since the big misunderstanding, and he taught me the importance of good credit (and he was preparing to purchase a house); I picked up the slack and paid all other bills with the exception of the Jared account (because the payments were much higher than a normal CC) - I did phone Jared and tell them his situation and asked them to close the account b/c he would not be available to pay - They took the info and said that the manager would look into it and possibly close the account after researching the issue.  They didn't close it until after the 3rd missed payment -

Now 3 months has gone by and his account had not been paid since then. I did a balance transfer to a MasterCard to clear the account and have lower payment options with the MasterCard - So, Jared is now PAID IN FULL.

Does anyone have any suggestions on how to approach Jared with a goodwill to remove the lates; or remove the account from his file or even re-open the account (since his credit scores has always been high - but I doubt they'll do this)?  Can this be salvaged at this time / from this point? 

Thanks in advance

Message Edited by FHRhea on 11-05-2007 07:24 AM

[SmartCookie]

hi FHRhea

I would start with what would be most beneficial... and I am guessing that would be re-opening the account, then GWing the lates at a later date as Jared will probably care more regarding a current customer.

I am not sure what you told them... and I understand that your brother might need your help in preparing this letter... but I would suggest he do is to state his good prior history, unfortunate and serious 'life event', his responsibility in seeing that Jared did not go unpaid, and desire to have that account reactivated as he is a loyal Jared customer who wishes to continue purchases.

If you do this, leave out all GW requests related to the lates, that should come later. 

Sometimes it is impossible to reactivate an account with a particular company, they just do not do it.  Other times, they tell you they can't... but with enough calls and letters to the 'right' mysterious department... they will.

Good luck! 

[Anonymous]

Hi,  

Smart Cookie, let me start by saying THANK YOU for answering my post.  I was hoping that someone would answer and give me some direction because all of this is a bit overwhelming - especially not knowing the proper course of action.

I will definitely get on this A.S.A.P. and attack the situation as you stated. I didn't want to leave it "as is" with the lates and all (although paid off) because I know how one mishap as such can drastically change things.

Thanks again, I appreciate your help / suggestions.

[SmartCookie]

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FHRhea wrote:

Hi,  

Smart Cookie, let me start by saying THANK YOU for answering my post.  I was hoping that someone would answer and give me some direction because all of this is a bit overwhelming - especially not knowing the proper course of action.

I will definitely get on this A.S.A.P. and attack the situation as you stated. I didn't want to leave it "as is" with the lates and all (although paid off) because I know how one mishap as such can drastically change things.

Thanks again, I appreciate your help / suggestions.

---

Welcome! 

Definitely start preparing a letter for him ASAP, but I urge that it not be sent until 24 hours after you think it is 'perfect' in case something hits you that you want to change.  Keep it just to a few paragraphs and again state how this was 'rectified' as soon as possible as he takes he is very responsible with his credit and takes his Jared account seriously etc. 

I just thought of something, adding that his sister thought that closing the account would be a good idea, and how he appreciates them doing so at her request, but this was not his desire or intention... only that it be noted that he was undergoing a personal situation and that he would appreciate their understanding in her advising them of such and that the account would be paid ASAP. 

[Anonymous]

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SmartCookie wrote:

Welcome! 

Definitely start preparing a letter for him ASAP, but I urge that it not be sent until 24 hours after you think it is 'perfect' in case something hits you that you want to change.  Keep it just to a few paragraphs and again state how this was 'rectified' as soon as possible as he takes he is very responsible with his credit and takes his Jared account seriously etc. 

I just thought of something, adding that his sister thought that closing the account would be a good idea, and how he appreciates them doing so at her request, but this was not his desire or intention... only that it be noted that he was undergoing a personal situation and that he would appreciate their understanding in her advising them of such and that the account would be paid ASAP. 

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I will because I know that there is a possibility for this to be worked out and because of the possibility, I will do my best at staying on it. I will take your advice and keep you posted.

If you should think of anything else, feel free to share your thoughts. 

Thanks for the welcome.