creditcardcory Posted February 25, 2005 Report Share Posted February 25, 2005 How long should this be reported for? I have 6 ranging from 10 months old to 23 months old. All for the same utility. Link to comment Share on other sites More sharing options...
Champion80 Posted February 25, 2005 Report Share Posted February 25, 2005 Are you asking how long your lates should be showing? If so, they will ovioulsy get older as the months pass, and less effect they have on the score, but they wont fall off completely for some time, I think the last 24 months of payment history are the most important for a score and to a creditor . Link to comment Share on other sites More sharing options...
tydaddy Posted March 2, 2005 Report Share Posted March 2, 2005 Can anyone here give me some successful stories on getting late payments removed from reports. I was an avid member of this site a year or so ago and did AMAZING things with my credit score by following advice from these boards. My score is now EXCELLENT but I need to help my husband clean his up.He has an account with Discover and MBNA both with SERIOUS late payments posting. We just refinanced and have $$$ to pay of these two accounts - one is for $4000 and the other for about $9000. I do not want to pay these in full unless I can get them to agree to delete all lates off his report. Does anyone have any suggestions as to the best way to approach these creditors???I would truly appreciate any advice you can send.Thank you!!!~ Heather Link to comment Share on other sites More sharing options...
Methuss Posted March 2, 2005 Report Share Posted March 2, 2005 Check your state laws to see if you can use a restricted endorsement. If you can, you do the following:Send a letter stating that you would like to pay the full balance off with the stipulation that the creditor agrees not to respond to any dispute made to the CRAs over late payment history. State in the letter that the offer is limited. Most furnishers will flatly refuse to remove derrogs because it goes against their contract with the CRAs. The CRA contract imposes a specific limitation on furnishers that they may only change derrogatory information if they certify it was supplied in error and they have to pay a fee to fix the error (nice how unbalanced that is huh?). Doing it this way gives the furnisher a way to agree without violating their CRA contract...they just ignore your dispute and the CRA has to remove the bad payment history.10 days later send them a check with another copy of the letter stating that presenting the check for consideration of funds is a legally binding agreement. Write on the front and back of the check that presentment of the document for payment is acceptance of the terms.If they cash it, you should be able to dispute it with the CRAs to have it removed. If the OC validates after you dispute it, you can get them on breach of contract. Link to comment Share on other sites More sharing options...
edubb007 Posted March 2, 2005 Report Share Posted March 2, 2005 Check your state laws to see if you can use a restricted endorsement. If you can, you do the following:Send a letter stating that you would like to pay the full balance off with the stipulation that the creditor agrees not to respond to any dispute made to the CRAs over late payment history. State in the letter that the offer is limited. Most furnishers will flatly refuse to remove derrogs because it goes against their contract with the CRAs. The CRA contract imposes a specific limitation on furnishers that they may only change derrogatory information if they certify it was supplied in error and they have to pay a fee to fix the error (nice how unbalanced that is huh?). Doing it this way gives the furnisher a way to agree without violating their CRA contract...they just ignore your dispute and the CRA has to remove the bad payment history.10 days later send them a check with another copy of the letter stating that presenting the check for consideration of funds is a legally binding agreement. Write on the front and back of the check that presentment of the document for payment is acceptance of the terms.If they cash it, you should be able to dispute it with the CRAs to have it removed. If the OC validates after you dispute it, you can get them on breach of contract.Methuss is GOOD! Dang! Link to comment Share on other sites More sharing options...
Champion80 Posted March 2, 2005 Report Share Posted March 2, 2005 Other than goodwill letters (which I have not tried yet, so do not have a success story). But I do have a success story below.Are theses accounts currently open still as CC accounts, or are they in Collections? Because you are talking about the lates I am assuming they are still good accounts, I think a really good sob story over the phone with these companies and the hint that you are going to pay off the balances would help. Just remember when you call and speak with someone, it is highly unlikely the customer service rep you talk to when you call to ask questions about your account can delete negatives off your file, you need to be talking to the right people. Tell them your true story on what happen, or make a good one up that seems real, either way remind them that you tried all you could to pay off the minimums or whatever you did when the lates were accruing, and tell them you need to buy a house. Try to get a good relationship with whomever you talk to , so whichever of the two are better at starting small talk with just anyone, have that person call. One person may tell you it is against the law to change the information, but I know for a fact they can do it. I have a very similar situation with. Heres what happen with me. I was in business with a guy, that basically scewed me over with a lot of money, at the time, my CC was almost maxed out, I payed the minimum that same month, but my annual fee put it over, so you know what happens, a few different fees so it gos higher, I only had a small amount of reserve and payments on CC could only be the minimum or I would be living in my car. So I continued to use my bill pay online paying only $25 for about 8-9 months, in Septemeber I got a call from someone in their Collections department, the account hadnt gone to Collections yet, but was about it. The reason was the balance was now $1200 on a $500 limit card, the person I talked to in their collection department told me if I made a $160 payment, the account would become up to date, because eventually a few months back when I was only making the $25 payments, the balance went up signifiicantly with the lates fees, and overlimit fees, the minimum payment was more than what I was paying, so in september, my CR showed lates of 120+ days, all in succession, once I paid that gentleman the money to bring it current, I called the customer service number and asked to speak with a supervisor. I explained my situation with her, and she genuinely was empathetic for my situation, she said if I make another payment of $160, she would take away all the late and overlimit fees, and best of all change the TL to never late, in the end after her end of the bargain was finished, my balance was $400, with no late fees on my account. Considering your balance, I do not think a letter would have such an effect as a good heart felt discussion where emotions get involved with a nice supervisor at the CC company. Dont waste you breathe on someone that cant help you, and by all means, do not give up on your first attempt. Good Luck. Just noticed your post Methuss, we must have been posting at the same time, by all means was I trying to contradict your opionion. Now if you notice Tydaddy, Methuss has over 1000 posts so he has his knowlege, and you also have my success story, I hope it works out for you. Link to comment Share on other sites More sharing options...
DocDon Posted March 2, 2005 Report Share Posted March 2, 2005 Methuss is GOOD! Dang! It was all that 'working out' with the 2x4..... Link to comment Share on other sites More sharing options...
Champion80 Posted March 2, 2005 Report Share Posted March 2, 2005 LOL, yeah his opinion maybe a little biased for someone that doesnt want to get legal with someone, hes just looking for someone to whack!! Link to comment Share on other sites More sharing options...
tydaddy Posted March 2, 2005 Report Share Posted March 2, 2005 Thanks you two! I'm in California so not quite sure what the laws are here regarding that situation. As I wrote Edubb in a different post - I feel like I am in the driver seat here since I have the $ to pay off these accounts. I just don't want to screw it up. The accounts are not in collection so I'm not sure if that makes a difference. If I call regular 800 # should I just ask to speak to Supervisor? Also if I attempt a GW letter who should I route too?Thanks guys! Link to comment Share on other sites More sharing options...
Champion80 Posted March 2, 2005 Report Share Posted March 2, 2005 You know, I am not sure who exactly to send the GW letter too, I havenet sent any yet, but as far as calling the supervisor, yes I called the orginal 800 # you call for CS, and asked for a supervisor. Just remember, if one superviser says she can't do it, there just not on the same page as you, some can do it, all you have to do is find them. I would visit their webiste and check for addresses they have and what departments they say they are, do a google search as well, see if they do not post some addresses for their own priivacy reasons. Then I would just send the letter to all the addresses you find. Putting something like ATT: payment processing, I am sure others have some good idea what department should actually recieve the letter, because if we just send a letter to a CC companies addresss and thats all it has, the $8.00 hour mail clerk is not going to bring it to the right place. I know when I worked for Providian, it was a 3 story building with about 1000 people it it. I would also do a search for successful GW letters and may post another question asking those that have had success with GW letters what department they sent their letters too. Good Luck. Link to comment Share on other sites More sharing options...
Methuss Posted March 2, 2005 Report Share Posted March 2, 2005 Rats. California.That means my method above is a bit risky. California is the only State that allows someone to nullify a restricted endorsement simply by writing "under protest" on the check before cashing it.If they don't write "under protest" on the check and cash it, they are bound by the agreement. But if they do, they don't have to follow the restrictions on the endorsement of the check.Still, most big companies run their checks through a clearing house or lock-box and never actually handle the checks themselves, so it's a good chance that it would work. Link to comment Share on other sites More sharing options...
Methuss Posted March 2, 2005 Report Share Posted March 2, 2005 LOL, yeah his opinion maybe a little biased for someone that doesnt want to get legal with someone, hes just looking for someone to whack!!Nah. I just want to make sure all bases are covered so companies can't weasel out of what they agree to. And not tolerating it if they do break their agreements. Link to comment Share on other sites More sharing options...
Champion80 Posted March 2, 2005 Report Share Posted March 2, 2005 Yeah I was just messing whith you, good point on covering the bases.Nah. I just want to make sure all bases are covered so companies can't weasel out of what they agree to. And not tolerating it if they do break their agreements. Link to comment Share on other sites More sharing options...
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