GW Letters

[johnosonc]

Here's my situation 4 settled for less than full balance charge offs and a paid collection all pretty recent in the last year.  Killing my scores.  I 've heard about good will letters, but want to know exactly what to expect.  I plan to write good will letters to the creditors monthly but what will they respond like.  The companies are Jefferson Capital, 1FBUSA, Citibank, and Chase.  Should I dispute through the credit bureaus themselves?  If so, what would be a good reason?  What chance do I have at getting any of these things removed?

[MarineVietVet]

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@johnosonc wrote:
Here's my situation 4 settled for less than full balance charge offs and a paid collection all pretty recent in the last year.  Killing my scores.  I 've heard about good will letters, but want to know exactly what to expect.  I plan to write good will letters to the creditors monthly but what will they respond like.  The companies are Jefferson Capital, 1FBUSA, Citibank, and Chase.  Should I dispute through the credit bureaus themselves?  If so, what would be a good reason?  What chance do I have at getting any of these things removed?

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There is no way to know what to expect from GW's. I suggest doing a search for "GW letters" on this site and read the experiences others have had with this process. No company has to respond to any GW letter. They are under no legal obligation to do so.

Only GW the creditors themselves. The CB's only report what the creditors send them. 

Good luck to you.

From a BK years ago to:
7/09 TU-742 EQ- 779
8/09 TU-765 EQ- 783
9/09 EX pulled by lender 802

You can do the same thing with hard work.

[TugChris]

Just send out some GW letters to the OCs and see where the dust settles. I have sent out about 4 rounds and have found that I get about a 50% success rate every round. Persistance is key and eventually they will most likely give in..

Message Edited by TugChris on 01-31-2010 06:31 PM

[dcw0405]

I mailed out three GW letters on Thursday to the following creditors:  Capital One (to remove late pmts from 2005 & 2007), CFNC (to remove late pmts from Aug 2008), and American Eagle (CS reps refuse to do it over the phone, removal of a late from Dec 2009).  I've never done GW letters before.  I actually plan on mailing THREE more out to the same ones tomorrow, just to be persistent.  I'm not sure how long they usually take to get back to you though.  Anyone have insight on this?  I am aware that I may never hear a response..

[Anonymous]

Also try looking up each of your creditors with the search terms gw, pfd, delete, success etc.  You can usually find people who have certain contacts within each company who may be able to help you accomplish your goals.

[Anonymous]

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@johnosonc wrote:
Here's my situation 4 settled for less than full balance charge offs and a paid collection all pretty recent in the last year.  Killing my scores.  I 've heard about good will letters, but want to know exactly what to expect.  I plan to write good will letters to the creditors monthly but what will they respond like.  The companies are Jefferson Capital, 1FBUSA, Citibank, and Chase.  Should I dispute through the credit bureaus themselves?  If so, what would be a good reason?  What chance do I have at getting any of these things removed?

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Hi John,

I wouldn't dispute these unless there's a valid reason.  If there isn't a valid reason, GWing is the only option.  I just started GWing two weeks ago.  I sent seeeeveral letters since my report is in the dumps.  One week later, I had two negatives disappear.  They were both very small and old infractions, but I still saw a 10 point jump.  I have a second round headed out tomorrow.  I expect the process to take a year, though I have no doubt it's different for everyone. 

There's no way to know what your chances are, but many people have had a lot of success.  It can take a long time, too.  But, like so many other's here have said before, it only costs a stamp.

Good luck!

My Credit Saga;

[johnosonc]

Has anyone noticed that when you dispute the date of last activity is updated and it makes your FICO go down because it looks like you were derogatory more recently than if you had not disputed at all.  Is there anything you can do about this?

[fused]

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johnosonc wrote:
Has anyone noticed that when you dispute the date of last activity is updated and it makes your FICO go down because it looks like you were derogatory more recently than if you had not disputed at all.  Is there anything you can do about this?

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Nope, there isn't a thing you can do about it. Its one of the pitfalls of disputing with the CRAs.

[johnosonc]

So it does hurt your score and it will do as long as you dispute?  Do you suggest I keep disputing or only do goodwills from here forward?

[Cotton_Britches]

Can you GW an OC if the account has been charged off but not yet paid off?