When to send a GW letter....

Anonymous · ‎08-05-2008

Hi All....Should I send a GW letter to accounts that have been closed and charged off? I am worried that if I send a GW letter to the ones that are closed and charged off that have a balance, this will draw a red flag to me and they would start coming after me for payment. I feel the same way about two I have that shows paid, but I never paid them. Do credit card companies usually remove the balance owed like that when they charge off and close your account? It has been a year since they have contacted me. They are negatively bringing my score down...Please help....Thanks!

Anonymous · ‎08-05-2008

can you post the information from these accounts so we can see?

Anonymous · ‎08-05-2008

Applied Card Bank

Current Status: Charge-Off

High Credit: $0

Credit Limit: $600

Balance: $1,845

Amount Past Due: $1,845

Date of Last Activity: 02/2005

Date Opened: 06/2001

Date Reported: 09/2007

Date of Last Payment: 01/2006

Revolving account, closed at consumers request, charged off account

First Nat'l Bank of Marin

Current Status: Charge-Off

High Credit: $0

Credit Limit: $250

Balance: $0

Amount Past Due: $964

Date of Last Activity: 07/2006

Date Opened:05/2006

These are the basics and the other three are similiar to these two. I have 5 altogether, 2 with no balance, and 3 with a balance...

llecs · ‎08-05-2008

jerseygurl4 wrote:
Hi All....Should I send a GW letter to accounts that have been closed and charged off? I am worried that if I send a GW letter to the ones that are closed and charged off that have a balance, this will draw a red flag to me and they would start coming after me for payment. I feel the same way about two I have that shows paid, but I never paid them. Do credit card companies usually remove the balance owed like that when they charge off and close your account? It has been a year since they have contacted me. They are negatively bringing my score down...Please help....Thanks!

A GW is the only route you can go. If showing as paid, and you did not pay it, then it is very likely the account was sold. That OC reporting the $0 won't come after you, however, they could and may send it along to the associated CA and that could cause problems.

llecs · ‎08-05-2008

jerseygurl4 wrote:
Applied Card Bank

Current Status: Charge-Off
High Credit: $0
Credit Limit: $600
Balance: $1,845
Amount Past Due: $1,845
Date of Last Activity: 02/2005
Date Opened: 06/2001
Date Reported: 09/2007
Date of Last Payment: 01/2006
Revolving account, closed at consumers request, charged off account

First Nat'l Bank of Marin

Current Status: Charge-Off
High Credit: $0
Credit Limit: $250
Balance: $0
Amount Past Due: $964
Date of Last Activity: 07/2006
Date Opened:05/2006

These are the basics and the other three are similiar to these two. I have 5 altogether, 2 with no balance, and 3 with a balance...

Don't send a GW to Applied. They are still showing you owe them. The balance is $1845, not $0. The only option with them is a PFD, but only do so if you have the $$$ saved to PIF.

The other is at $0 and I would offer a GW if you had means to pay if the CA comes after you.

Anonymous · ‎08-05-2008

Thank you guys for all your help...