GW letter question

[Anonymous]

I'm preparing a GW letter for the credit union where we have a car loan and I have a question. We have 9 late payments between Aug 2015 and May 2018. The majority were from 2017 when my DH was laid off briefly. Should I ask for the removal of ALL the 30 days to be removed or is that too much?

Thanks again everyone!

[SouthJamaica]

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@Anonymous wrote:
I'm preparing a GW letter for the credit union where we have a car loan and I have a question. We have 9 late payments between Aug 2015 and May 2018. The majority were from 2017 when my DH was laid off briefly. Should I ask for the removal of ALL the 30 days to be removed or is that too much?

Thanks again everyone!

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No harm in asking.

[Anonymous]

I've sent the letter out today asking for all 30 days late to be adjusted. I'm crossing my fingers! Thanks for your help!

[EW800]

I agree that it cannot hurt to ask, however unfortunately it might be a stretch, given that you said the majority are as recent as 2017.  Hopefully your letter will fall into the right hands at the right time!  

Let us know what you hear!  

[Anonymous]

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@EW800 wrote:

.... it might be a stretch, given that you said the majority are as recent as 2017.

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And indeed some of them are as recent as a month ago. 

[Anonymous]

Not that it matters but I was mistaken, the last 30 day late was March not May. I'm basically shooting in the dark and praying because the late payments from when my husband was laid off are what's killing us. Thank you again!

[SouthJamaica]

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@Anonymous wrote:
Not that it matters but I was mistaken, the last 30 day late was March not May. I'm basically shooting in the dark and praying because the late payments from when my husband was laid off are what's killing us. Thank you again!

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Good luck with it.

[Anonymous]

You may have to "chip away" at the removal of those late payments with multiple Rounds of letters.

I have 7 late payments with one lender and they were removed over a period of months in groups of 3, 2 and 2.  Sometimes getting the first removal(s) is most difficult, as the account looks the worst at that time.  If you do get an adjustment, though, the next time you ask for one the account will be cleaner, possibly making subsequent removal requests a touch easier.

[moosemoney]

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@Anonymous wrote:

You may have to "chip away" at the removal of those late payments with multiple Rounds of letters.

I have 7 late payments with one lender and they were removed over a period of months in groups of 3, 2 and 2.  Sometimes getting the first removal(s) is most difficult, as the account looks the worst at that time.  If you do get an adjustment, though, the next time you ask for one the account will be cleaner, possibly making subsequent removal requests a touch easier.

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That's good advice.

I recently sent a GW letter to my mortgage company. I bought in December 2007 right before the housing market crashed, so up until January of 2017, I have multiple (by multiple I mean an embarrassing amount) of lates. Second half of 2016 I almost lost my home to foreclosure due to my income being cut in half (temporary separation from my spouse). I was able to work with the mortgage retention team at my lender and they helped set me up on a repayment plan to save my home. Since then I've been on time every month. Late last month I sent them a GW letter asking for some leniency on my late payments. I explained everything very honestly - I accepted poor advise when buying (I was a first-time homeowner), we were hit hard by the recession and market collapse, and then my personal struggles and income drop. I thanked them profusely for working with me during my darkest time, and explained how since that time my financial situation has improved tenfold, and made sure to note that I have made every single payment (18 of them) since then on time. I was not specific in asking for a certain number of lates to be revised. I didn't mention anything in specific, actually.

A week after sending that letter I got a call (mailed on Friday May 25, got my first call Thursday May 31st). It was a very nice woman who explained that they got my letter and they would work on it and call me back in 7-10 days. Yesterday (Thursday June 7th) I got a second call saying they are still working on it, and that my request had been approved at the first step and now was going on to the supervisors for their approval, and that again, she will call me in a week. I have high hopes based on our conversations her her overall tone. I think the fact that I didn't ask for specifics helped me. Of course, YMMV

[Anonymous]

Hey Moosemoney! Thank you for your reply! Would you mind too much to C&P your letter here?? Your situation is somewhat similar to mine. My husband and I were setting out to buy a house in 2015 and we refinanced our vehicle with our credit union. My husband was laid off then had hours cut back between June 2016 and December 2017 - eight 30 days to be exact. Those late payments are what's killing my husband's score and we desperately need some relief with at least a few of the more recent lates.

His score right now is like 530 and we're praying to raise it high enough for a FHA home loan by August or September.