Fifty point drop in EX after sending GW letter ... Creditor reported as new "KD"

[Anonymous]

I have been reading these forums, but have never participated. I had an account from 2003 that was a charge off. I believed that it was paid, so I sent a GW letter asking them to remove it. Unfortunately, it wasn't paid (i was in law school - trying financial times) instead of removing it, the creditor decided to begin reporting it to the credit bureaus as a current derogatory item, which dropped my score 50 points! Is this normal? Has anyone else had a similar experience? I panicked - and paid it - hoping that the score will rebound. Any thoughts on whether it will? Fingers crossed... Thanks!

[Anonymous]

those "Key Derogatory" KD's really beat your score down.

Sounds like you woke sleeping giant -

I suggest another GW letter (now that it is paid) and disputing the lates.

Message Edited by Timothy on 10-17-2007 09:53 AM

[Anonymous]

Thanks. I will try another good will letter - but I had two other paid charge-offs with this creditor (I know, very bad) and they refused to take it off, so I don't have high hopes. I am hoping that when it's paid, it will help... and my scores will recover!