Does Ford Credit Accept GW

[Anonymous]

Just wondering if Ford will GW .....I have been working so hard on my account for the last 7 months with them....and I was late last month....my fault....did not read the online payment processing. I called one guy and he said that they can't change anything...but from what I have read on here....companies GW all the time. Any thoughts or suggestions? This hit my fico score pretty hard!

[Anonymous]

I didn't waste my time trying with them because I didn't read any success stories. Everyone who has sent GW letters has been denied.

Curious, do they report to all 3 reports on you? They only report to my EQ and EX.

[Anonymous]

So far it's only been EQ....ugggghhhh......it says it caused a 40 decrease....does that seem right? Watching my score is like watching the stock market!

[Anonymous]

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molly73 wrote:
So far it's only been EQ....ugggghhhh......it says it caused a 40 decrease....does that seem right? Watching my score is like watching the stock market!

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Being as recent as last month, yes it seems accurate.

[Anonymous]

ohhh man!

so how long does it usually take to make up that 40 points?

so bummed!

[tcham54687]

I've tried everything with Ford/Mazda credit and so far nothing has worked. I received 2 letters from them yesterday refusing to GW. The letter to the Board of Directors was forwarded back to the credit branch for response, which seemed to make them even more angry. They are now saying they won't respond again...We'll see.

The next letter will be to the Board of Directors and will include business cards of the Ford employees whose time was wasted trying to sell me a new truck, a new car for my daughter and a new SUV for my wife. We'll see if that gets a response.

[Anonymous]

My experience with FMC was through a lease on a Range Rover with a payment in the 900 per month range. OUCH! (And now I have to buy fuel for it, too!) The car was stolen and missing for several months. Duly reported to police and my insurance company. The insurance company supplied me with a car to drive and advised me to NOT make payments on the lease until we either recovered the car or they decided it wasn't going to be found and paid off the lease. I have DOUBLE GAP coverage. Once on my auto policy and once again on the FMC Lease itself. So there was no negative possible on a payoff.

FMC reported me as LATE for 90 days (91 days actually) and then the car was written off by my insurance company and a check was issued to FMC for the full balance due on the lease plus the residual on the car.

It took the threat of a lawsuit delivered by my lawyers in the form of an "intent to sue" letter sent to their corporate counsel to get any action. They were absolutely uncooperative and hard nosed as hell. Inhuman ***holes in my opinion. Finally in the face of adverse publicity and a lawsuit they relented and removed the late payments. The lease is now reported "closed by consumer - paid as agreed" for the full 24 month term. Yes. You read this correctly. They wanted me to pay for the use of a car that was stolen and reported me as late for not doing so! BTW: if you're going to ever lease another car - go to anyone else. I don't think any other company would be this much of a jerk. But I could be wrong. Maybe this is Standard Operating Procedure in this industry? These people were beyond stubborn to deal with. They were VILE in my opinion.

This was the experience I had with them. I hope you fare much better if you must deal with them. They also seem to be unable to adjust to the current reality that most consumers are on thin ice financially today. FICO scores are dropping across the nation. Most of us are having some problem meeting obligations due to the current economic meltdown. Most companies are willing to work with consumers. NOT FMC! But as the reality hits them and they start laying off their leasing department and customer service people (fewer leases, fewer cars sold, means they will be able to downsize those areas) then these same jerks are going to be getting a healthy dose of their own evil medicine. Not a moment too soon, in my opinion. Not a moment too soon...

[Anonymous]

FMC will not GW has been my experience. I had a vehicle with FMC and refinanaced it in 8/2006, paid them off and now I have a 30 day late with them I have been trying to get removed for 8 months. Never was late but they are saying I was and now just stuck.

I agree, I will not even look at a ford anymore.

[Anonymous]

BTW, they do report to all 3 CRAs