I'm officially a fan of goodwill letters now.

[BrassFan]

I just got off the phone with the last of the creditors I sent goodwill letters to. Let's recap my letters:

1) Local Bank Credit Line---We must report correct information to the credit bureaus.

2) CapOne--We must report correct information to the credit bureaus. However, we will waive some fees, and lower your interest rate.

3) Sears--We have determined that your account is not being reported correctly to the credit bureaus. We will update it and apologize for the inconvenience.

4) A Retail Store Credit Card--We are sorry for the problems. We will waive the late fees, and will delete all of the negative information from your credit report. We have also reopened the account for you to use again.

So, out of 4 letters, I have 2 that are updating, and one that wouldn't update, but was willing to waive $125 in fees, drop my interest rate 10 points, and waive my annual membership fee. That's a pretty good success rate in my book. (P.S. The one that wouldn't update my account didn't reply when I disputed it as "Not Charged Off--Closed By Consumer), so it now shows "Pays As Agreed-Closed by Consumer.")

[sisflomi]

Well pat yourself on the back. Great news to hear!

[Saptrus]

So what's the deal on the "Blue Man Group" guy?

[BrassFan]

<blockquote>Originally posted by Saptrus

So what's the deal on the "Blue Man Group" guy?

</blockquote>

That's me with him. The painting is a painting they make during the show.

[ADSOFT]

<blockquote>Originally posted by BrassFan

I just got off the phone with the last of the creditors I sent goodwill letters to. Let's recap my letters:

1) Local Bank Credit Line---We must report correct information to the credit bureaus.

2) CapOne--We must report correct information to the credit bureaus. However, we will waive some fees, and lower your interest rate.

3) Sears--We have determined that your account is not being reported correctly to the credit bureaus. We will update it and apologize for the inconvenience.

4) A Retail Store Credit Card--We are sorry for the problems. We will waive the late fees, and will delete all of the negative information from your credit report. We have also reopened the account for you to use again.

So, out of 4 letters, I have 2 that are updating, and one that wouldn't update, but was willing to waive $125 in fees, drop my interest rate 10 points, and waive my annual membership fee. That's a pretty good success rate in my book. (P.S. The one that wouldn't update my account didn't reply when I disputed it as "Not Charged Off--Closed By Consumer), so it now shows "Pays As Agreed-Closed by Consumer.")

</blockquote>

Well, you have to share some of these goodwill letters with us!!!

Congrats!!!!!!!

[JoeSchmoe]

<blockquote>Originally posted by BrassFan

4) A Retail Store Credit Card--We are sorry for the problems. We will waive the late fees, and will delete all of the negative information from your credit report. We have also reopened the account for you to use again.

</blockquote>

Wow, was that a charged-off account, or a recently closed one? What was the negative info?

[Edit by JoeSchmoe on Wednesday, May 28, 2003 @ 10:32 PM]

[BrassFan]

<blockquote>Originally posted by JoeSchmoe

Wow, was that a charged-off account, or a recently closed one? What was the negative info? </blockquote>

It was "Closed By Credit Grantor" in January. The negative info was 3-30day late, 1-60day late, 1-90day late. The account was opened last September.

[BrassFan]

<blockquote>Originally posted by ADSOFT

Well, you have to share some of these goodwill letters with us!!!</blockquote>

Nothing to share. I simply sat down and wrote letters explaining why I was late, that I was trying to purchase a house, and asking them to update their information. I didn't copy any of the form letters, I just wrote what felt right.

[kb9tbq]

That is great news, to have one account re-opened and to save that much money for the effort.

If the accounts with the late listings are still open - you still have hope. Try back a good will letter again in a few months. At the worse you wait out the reporting period, but maintain the account in the mean time - it will revert back to positive reporting (just will take some time).

Way to go - wonderful news.

:p