Hello all, I'm new to the forum - this is my first post in my journey to rebuilding my credit. Long story short, I was a dumb kid, and a decade later - guess what? I was still dumb. I truly didn't realize what a big deal being late on credit card payments is, and how much it impacts you for ANYTHING to go to collections. So here I am, 33 years old and wanting to buy a house and realizing I have a FICO score of 584. Ugh! Stupid stupid stupid (bang head on anything available.) After looking at my credit report, I have five negative credit cards, a negative utility, and 4 CA reports. First, all of my accounts are up to date and paid. All CA accounts have been paid for going on 3 years or more, and I'm current on all credit cards and have been for at least 12 months. Holy cow, can you imagine how bad my score was before? Since everything is all paid up to date, the only two options that I've been told I have are to pay down my credit card balances and to wait for more time to pass. Well, within the next month, I will have ZERO credit card balance, so I thought you all might find it interesting on how much it changes my score. I have about $6900 in CC debt. Then I read about Good will letters. SO - in addition, tomorrow's mail will carry away Good Will letters to: Capital One, Bank of America, Credit Bureau Data Inc, Chase/Bank One, Sears, and Wisconsin Electric/WE Energies. Wish me luck! I'll post back and let you know what happens!
Starting Score: 584 on 02/28/13
Good luck! I have a feeling something good will come out of your effort! Send, pray, and pray a little more! 
I'm preparing debt settlement/Good Will letters to all my 4 negative credit sources right now.
Did you use sample letters online or did you write them completely from scratch?
Like Jeremy, I also used samples to get an idea of what I should put in, then used my own. I saved all of them, and will post them if they happen to be winners. I tried to be concise and contrite. With the CA, I used a bit of humor - they are a local CA so I'm hoping to win them over with my charm and humility
@Aquinbean wrote:Like Jeremy, I also used samples to get an idea of what I should put in, then used my own. I saved all of them, and will post them if they happen to be winners. I tried to be concise and contrite. With the CA, I used a bit of humor - they are a local CA so I'm hoping to win them over with my charm and humility
I agree.. there is no real solid sample for a good will letter, cause every creditor and every situation is different...
-scott
Got a scorewatch update today, been on pins and needles to see how much my score might increase with just paying off some CC. I'm pretty sure the three cards I paid off all got reported together (similar billing cycles) Macy's ($900), Walmart ($500), and Discover ($1200) all paid to zero from being maxed. Saw a 20 point increase. Will continue to update - still no word on any of my GW letters. My score alert was for score only, not credit report alert, so I'm guessing if a CA gets removed or lates get removed, I'd have a report alert too...wouldn't I?
Whoah oh man, my heart was racing as I ran from the mailbox with a letter from Sears and a letter from Chase. Sears - FAIL. Chase - SUCCESS!!! Here's what the letter from Chase says:
Dear ***
We are writing in response to your inquiry about the above mentioned account that is reflecting on your credit bureaus.
Since the account noted is no longer in our system, we have requested that Equifax, Experian (TRW), and Trans Union credit bureaus remove the account information from your credit bureau report. During the interm, you may provide the appropriate party with a copy of this letter as notice of the current status of this account with our bank.
If you have any questions or we can be of further assistance, please call us at the toll-free number noted above. We're here 24 hours a day for your convienence.
Sincerely,
Chase
Yes yes yes yes yes!!! This account was by far my worst regarding lates. It had FIVE 30 day lates, TWO 60 day lates, ONE 90 day late, and ONE 120 day late! Can't wait for the Scorewatch alert!!! Now, to take me down to earth - SEARS SUCKS. Got a generic letter that says they cannot update my credit report since the information was reported correctly..blah blah blah. Below I've posted my letter to CHASE since it was a success:
Me
*** ******* St
*******, ** *****
February 28, 2013
Regarding Account #: ****
SS#: ***-**-****
CHASE/BANK ONE CARD SERV
PO BOX 15298
WILMINGTON, DE 19850
Dear Credit Services Professional,
I am writing to see whether Chase/Bank One would consider making a goodwill adjustment to the credit reporting bureaus on my closed credit card revolving account. I am humbly asking whether Chase/Bank One would remove the adverse late payments reporting from this account in reporting to the credit bureaus. It has been about five years since this account has been paid in full and closed.
I deeply apologize for the late payments during this time. I implore you to please consider my request, as I am in the process of repairing my credit to help buy a new home and the adjustment would definitely help me with my FICO score and this endeavor in home ownership.
Regardless of your decision, thank you for taking the time to read this letter,
Sincerely,
me
Guess I'll have to prowl the forums to see what I can do about good ole Sears, the cold hearted butts!
Wow!! Congratulations! Will you let me know when you get your BOA letter? Fingers crossed it works! I'm working on my letter to send to them so any good news helps!
Starting Score: EX 631 EQ 629 TU 646 1/18