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Good Will Letters - has anyone had an success


meebones
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I've sent a few and have found that they work less than 50% of the time, but they have worked. If they don't the first time keep them going about every 30-45 days.

On the ones that have worked I had a "closed by credit grantor" account reactivated and some interest rates lowered. Removing lates seems to be a bit more difficult, but you just have to find the right person in the right mood.

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I have had some luck with goodwill letters. I think it depends on a combination of how you approach them and what mood they are in at the time.

I learned a valuable lesson one time with a situation with a customer's credit. The lates they were reporting were wrong, but they wouldn't remove them. I wrote a goodwill letter to the normal customer service address and got some form back that they were not going to change their reporting. While I was in the midst of trying to get them to remove the erroneous lates, she really was late.

What made this particularly bad was that she has ten student loans that she pays with one check and then the lender divvies up the money amongst the ten accounts. So they were reporting her late on 10 accounts, which thoroughly destroyed her scores. Then when she really was late, she had 20 recent 30-days lates being reported which completed the screwing.

I went on the lender's website and poked around in the Investor Relations section (when you go on the consumer part of the website, they don't want to tell you who anyone is, but if you go in the Investor Relations section, they tell you who EVERYONE is), found out who the president was and sent her a combination please forgive me/you screwed up letter. She TOed it to someone else to take care of and they removed all 20 lates. They made it clear that this is a one-time-only deal, but it works for me.

The point is that if you can get closer to the top of the food chain, you have a better shot at getting what you want. Some higher up mucky muck doesn't want to deal with this kind of stuff and they usually hand it to someone else and say, "Fix this."

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