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Goodwill Letter Outcome - Foley's


Want a House!
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Sorry for the long post, I need your advice please:

Sent goodwill letter to 3 top executives of Foley’s here in Houston. Received a DHL package a week later, the package was from a lady in the “Office of the Assistance to the President, Credit Service Center” department in Ohio. I opened this Foley’s account back in 1993 and I had a tough year in 2003 when I was not able to make the minimum payment due (let’s say around $300, I would only make about $25-50, and they are reporting me 150 days late for the entire year of 2003, I’m caught up now though, but still, I’m sure that is hurting my score a whole lot and I was making payments except that it was not the amount that they were requesting and therefore reported me as being late). Some excerpts from Foley’s response follow:

Dear Ms. Want a House!,

“Under the terms of your Foley’s account (copy enclosed), you agreed to pay each month the minimum monthly payment specified. Failure to pay at least the minimum, payment results in delinquency. The longer the period between payments which equal at least the minimum amount required by your credit agreement, the greater the period of delinquency. We are unable to comply with your request to remove any/all of the adverse information that is reporting to the three (3) national credit-reporting agencies. Under the Fair Credit Reporting Act, we are required to submit only accurate information”.

Needless to say I was very upset since their executive office forwarded the letter to them, I clearly stated on the letter to the executives that I needed their GOODWILL, not their VERIFICATION that I was not making the minimum payment. Oh, and this lady also sent a history of statements since 1995. I know I was making late payments but I never went 150 days without making some type of payment, I know I was not making the entire minimum payments!, they didn’t have to prove that to me. I needed their goodwill and that is the reason I sent it to an executive level. Obviously this lady doesn’t have the power to help me.

Also, on the letter to the executive I begged to get a second chance, that they remove the negative information, that I have been a customer for a very long time, that I was going thru very hard times and also that although the FCRA states that they are supposed to report accurate information, there is nothing in the FCRA that forbids an agreement between consumers and creditors, if creditors see fit to update a consumer’s account, it is perfectly acceptable.

Also, while reviewing the statements I notice that there’s a note that says:

“Your account has been closed due to non payment” but then when I caught up with the payments (about six months ago), the statement is not there anymore, you know, the account is back to a good status. So I am very confused, how can they say the account is closed but then keep charging late payment fees, charging for interest I can understand but I do not understand that if the account is supposed to be closed, and they were charging me late payment fees, it was a mess because since I was not making the minimum payment ($300.00), I would only make $25-50, and then they would turn around and charge me a late fee of $25.00, so there went half of the payment.

I hope I made myself clear and hope to hear some advice.

I definitely plan to send a second letter to the executives this week, I guess saying that the lady in their credit service center was not able to help, that I am asking for their goodwill and to not forward the letter to someone that doesn’t have the authority to correct the negative information on the file. Tell them that I was making payments, that I was trying my best and make at least a small amount of payment and that I deserve their goodwill, that I think I am paying a high price for all the accumulated late fees and interest already. You know what I mean?, that I never let it go to a collection agency (that’s what I should’ve done if I should’ve known they were going to report me late when I was trying my best and very hard to make some type of payment!!!).

I feel much better now that I let all of this frustration out.

This is the only negative information left in my credit reports after starting the repair process in late April, and even with these 150 days late payment history of last year I have been able to get a Union Plus $2k limit mastercard, a $5K limit visa from Patelco, and a 5K vacation loan from Patelco, but want to buy a house by the end of the year and want to have those late payments removed.

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since this is the only bad thing on your report do you know what your three scores are - cause if they are at 620 or above don't worry about this cause with a 620 score you will get into a good loan.

It sounds like they are right in reporting your account 150 days late - they are going off the first month you didn't make the complete min. payment. I know you tried to do the right thing and pay themwhat you could but they don't do things that way - either you pay the full payment or you are late - they only see things in black and white.

However, I would continue writing them goodwill letters you are bound to get someone different adn maybe they will fell for you and change things.

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I haven't tried planetfeedback. I will definitely look into that as well.

This is the only negative thing and FACO scores are above 620, as a matter of fact experian is at 690 FACO, that one is the highest.

I've had the account for 11 years so maybe that helps as well, the age of the account.

I will keep at it.

Thanks a lot.

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I haven't tried planetfeedback. I will definitely look into that as well.

This is the only negative thing and FACO scores are above 620, as a matter of fact experian is at 690 FACO, that one is the highest.

I've had the account for 11 years so maybe that helps as well, the age of the account.

I will keep at it.

Thanks a lot.

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