Goodwill for CO

[Anonymous]

I have been working on credit rebuilding and I have a paid/CO for a CapOne card from 2 years ago.  I'm guessing the only way to take care of it would be a goodwill letter and I was curious if I stood a chance of success?  

Also a Comcast collection which I just paid Comcast in full.  So the collection agency said they will mark that as paid but if they do I should be able to dispute it on my report since I settled with Comcast and not them.  If not at least it will show as paid.  It really hurts because I paid my balance turned in my equipment and closed the account.  Moved away and wasn't aware of this until I got the collection letter.  Apparently there was some charges they were about to generate a bill for right as I closed my account.

I have been working hard to improve my credit these past few weeks and waiting for my score to change.  Opened a Chase Amazon for 3k because I had no revolving accounts which was hurting my score.  Got added as a AU for on my wife's Discover card with 15 year history.  Waiting for these things to show up on my reports.

[gdale6]

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@Anonymous wrote:

I have been working on credit rebuilding and I have a paid/CO for a CapOne card from 2 years ago.  I'm guessing the only way to take care of it would be a goodwill letter and I was curious if I stood a chance of success?  

Also a Comcast collection which I just paid Comcast in full.  So the collection agency said they will mark that as paid but if they do I should be able to dispute it on my report since I settled with Comcast and not them.  If not at least it will show as paid.  It really hurts because I paid my balance turned in my equipment and closed the account.  Moved away and wasn't aware of this until I got the collection letter.  Apparently there was some charges they were about to generate a bill for right as I closed my account.

I have been working hard to improve my credit these past few weeks and waiting for my score to change.  Opened a Chase Amazon for 3k because I had no revolving accounts which was hurting my score.  Got added as a AU for on my wife's Discover card with 15 year history.  Waiting for these things to show up on my reports.

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On the Cap-1 you would use GW letters, the older the CO is the better the chance of obtaining the goodwill, best time is in year 6 of the CO. If Comcast didnt recall the collector its going to update to a paid collection and you would have begin a campaign of GW letters to them asking for it to be removed.

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/GW-letter-Q-amp-A-Examples-and-GW-Success-Stories/td-p/1573680

Best thing you can do for yourself is to open at minimum 2 more cards in your name.

[RobertEG]

REporting of a charge-off is, in essence, the creditor placing of record in the consumer's credit file the statement that the debt has reached the state of delinquency such that the consumer is not expected to pay the debt.  In accounting terminology, the debt is considered to have become uncollectible.

If the consumer then pays the debt, it demonsrates that the earlier observation/prediction that the consumer was not going to pay the debt proved not to in fact be the case.

While that does not alter the fact of their earlier accounting measure, and thus does not mandate deletion of the CO, it nonetheless shows that your intenetion was to pay the debt, but you were expieriencing hard times.  When able, you met your obligation.

Thus, the argument to the creditor to delete the charge-off is that you are a consumer who does meet your debt oblitation, and thus deletion of the reported statement that you are a consumer who is not expected to pay their debt would more accurately reflect upon you as a consumer.

An assertion that deltion of the CO would more accurately describe you to others..........

[Anonymous]

Well thats a good argument.  Yes I did pay it in full to the collection agency.  I took the other person's advice and added another card which ended up being a Cap1 QuicksilverOne Card for $1000.  Once I get my card I'll be a loyal customer in good standing so maybe they will grant me some goodwill.  Barclay turned me down so I'll stick with Chase Amazon $3000 and the Cap1 card to help improve my credit.  I also have a mortgage for 4 years with no lates as well as a 1 year car loan with no lates. 

[RobertEG]

A problem arises if the creditor sold he debt to the debt collector, and you then paid the debt collector.

In that situation, the OC recieved only pennies on the dollar when they sold the debt, and then did not receive any additional $ when you paid the debt collector.

Very different that if you paid while the OC still owned the debt, and thus the credtior reaped the benefit of your payment in full.

The amount of their loss may affect the amount of their good-will.

[Anonymous]

Talked to Comcast again and finally got someone who was helpful after many hours over the past few days of being on hold, hung up on, and transfered around.  But she said they will get it removed from my credit report.  Yay!  7-10 days to tell the collection agency and probably mid June before it comes off.  Gave me a case number thats posted on my account to get this removed from my report.

Discover AU showed up on my report so that raised my score by about 28 points. EX 631 now.

No luck so far on my Goodwill emails.  If it doesn't work thats okay because once my new credit cards start showing up on my report that will raise it  about 30 points so I'll be around 690 or more by mid June. With a 30 point increase from opening a revolving credit account which I had none open until recently and now I have two.  

As things age a bit my score should be around 750 or higher by next year.  

Really just want a Amex PRG but I'll at least have to wait until next month when my Comcast collections comes off and my new cards start reporting to get my score to 690s before applying for it.  

Currently just got

Chase Amazon 3k - Cap1 Quicksilver1 1K - Discover AU 6500k

I seem to be hearing you need three revolving accounts but I want to wait until I can apply for cards I really want.  I believe this should be enough to get me into the 700s to get a Barclay's Ring.  And hopefully this summer a Amex PRG. 

[gdale6]

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@Anonymous wrote:

Talked to Comcast again and finally got someone who was helpful after many hours over the past few days of being on hold, hung up on, and transfered around.  But she said they will get it removed from my credit report.  Yay!  7-10 days to tell the collection agency and probably mid June before it comes off.  Gave me a case number thats posted on my account to get this removed from my report.

Discover AU showed up on my report so that raised my score by about 28 points. EX 631 now.

No luck so far on my Goodwill emails.  If it doesn't work thats okay because once my new credit cards start showing up on my report that will raise it  about 30 points so I'll be around 690 or more by mid June. With a 30 point increase from opening a revolving credit account which I had none open until recently and now I have two.  

As things age a bit my score should be around 750 or higher by next year.  

Really just want a Amex PRG but I'll at least have to wait until next month when my Comcast collections comes off and my new cards start reporting to get my score to 690s before applying for it.  

Currently just got

Chase Amazon 3k - Cap1 Quicksilver1 1K - Discover AU 6500k

I seem to be hearing you need three revolving accounts but I want to wait until I can apply for cards I really want.  I believe this should be enough to get me into the 700s to get a Barclay's Ring.  And hopefully this summer a Amex PRG. 

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Ill give you a tip, dont be sending emails for goodwill. You need to send a written letter one a month until you get what you want, sometimes it takes years my longest was 3. email is impersonal, make them feel your pain in the written letter..

[Anonymous]

Email is so much easier...  But yes that is a good tip.  I may create some letters and mail them out soon.  Just seeing if I would get anywhere with emails because it was easier.  

But I'm happy I got somewhere on my Comcast collection and a good chance to get that Amex PRG this summer.

[Anonymous]

My email Goodwill worked with Chase to remove a account that had some lates on it.  Including a 120 late from last year.  Score is now 647.  Also Comcast just called me and said their collection will be gone anytime now depending on the bureaus.  I don't know how much of a increase that will give me but at least 20 points.  I think some people have gotten 30 or more increases.  Can't wait to apply for that Amex PRG.  May have to wait for my new Chase and Cap1 cards to show on my report.  Currently not showing any revolving accounts.  Don't know if anyone was approved without having a revolving account on their report.

Chance of having excellent credit from starting at fair credit in a month and a half.

I should have started paying attention to my credit and working on it years ago.  At least you can always come back and I hadn't done so much damage it would have taken years to fix.  

Still have that paid/CO from Cap1 from 5 years ago which I may have to wait out.

[Anonymous]

FICO EX 676.  My Chase card just started reporting so that increase my score by a good bit.  Still waiting for the Comcast collections to come off which may get me to or near 700.  After it does I'll apply for the Amex PRG then garden for a while.  I may come out of garden to get the Barclay's Ring if I get my score up high enough then I'm completely done for a long time.  I will have all the credit cards I want and wait for the Paid/CO to age off.

April 28th - FICO EX 603

May 16th - FICO EX 676