INCREASING MY FICO SCORE

[Anonymous]

Wow that was good. I have an issue with chase that shows a paid charge off of $27 back in 12/05 I know I still feel the effects of this a little and want it removed they keep saying they don't handle this type of account it was a club account I had in Germany which charged it's yearly dues to it. I never even used it. I moved in 2005 didn't get any letters of collection and they charged it off in less than 60 days. I have tried to talk to them no progress. I think the letter you and your wife used almost made me write you a check!

Thanks! 

[girlie]

bravo! 

i am inspired to try the same thing.  i had two charge offs with chase almost 2 years ago.  I was offered a settlement amount  through the collection agency, but chose to pay the full amount.

i hope it works

[Anonymous]

I think Noah illustrates a significant point by showing us his goodwill letter. At the end of the day, an actual human being is at the other end of your correspondence. And just like in real life, how you approach someone is key. If I walk into my bank kicking and screaming because they put a hold on my deposit, the likelihood of being helped is slim to none because I've already put the person behind the counter on the defensive. However if I politely explain to them "I realize there's a 5 day hold on large deposits and I understand why the bank has this policy, but I have checks coming through and I really need access to these funds. Is there any way you can do a manual verification for me?" True story, by the way. If you come across genuine you might luck out and catch someone on a good day, or someone who has been in your shoes and can relate. They may cut you some slack and bend the rules a little. As a side note, this only applies to a goodwill letter. When it comes to disputes, you may have to resort to kicking and screaming.

[Anonymous]

Yes, I now believe I actually have a chance. Anything is possible when you add the human element. I'll let you guys know how it turns out.

[Anonymous]

Noah,

Did you send this letter to the Original Creditor or the Collection Agency?? I would love to give this a try and see if i have any luck as I settled a few cards (that were in collections) for less in 2006.

[Anonymous]

Irvin,

GW the OC, not the CA. Always GW the OC, not the CA. CAs have no scruples, no morals and no reflection.

If the account is a Paid Collection, GW is worth a shot but know that the odds ain't good. Only 39 cents to try. Not much to lose and plenty to gain.

Be sure NOT to copy a GW letter verbatim. Read every GW letter you can find. Study them, get a feel for it. There's both an art and a science to it.

And, don't send a GW letter CMRRR.

[Anonymous]

So  the GW letter is more or less sent on faith since you aren't tracking it? How do you know if you have the right address? Do you call ahead and ask where such correspondence be sent?

[Anonymous]

Exactly correct. GW letters are a leap of faith that a human being on the receiving end will take pity on you. I used the address listed on my CRs. Began the letter Dear Madam or Sir.

However, there is growing opinion over on CIC that GW letters work better when sent to executives, and even Email. I tried it with Target after two GW letters yielded not a word in response. No luck yet. And no luck with GW from AMEX either, but that TL went to collection.

But the risk is nil, rewards are high, and the odds are better than Vega$.

GW is best for lates, particularly old lates, but use it for any lates--whether the account is open or closed.

I have yet to hear of anyone getting a paid collection or paid chargeoff deleted via GW, but it's probably happened.

If you still owe the OC money, GW may or may not work. One of my Chase GW deletes was on an account that was settled for less than the full amount. I guess my advice would be if you've paid the OC most of what you owed, then give GW a try. IIRC, the Chase account was for about $1700 and was settled for around $1200.